India, officially the Republic of India, is geographically located in Asia, is a seventh-largest country and second-most populous country of the world.
After its economic reforms in 1991, India became one of the fastest-growing major economies and is considered a newly industrialized technologically advanced country. India has been a member of World Trade Organisation (WTO) since 1995. In 2011, India was the world’s tenth-largest importer and the nineteenth-largest exporter. India’s telecommunication industry, the world’s fastest-growing, and after the first quarter of 2013, India surpassed Japan to become the third largest smartphone market in the world. The pharmaceutical industry in India is among the significant emerging markets for global pharma industry. Its automotive industry, the world’s second fastest growing, According to a 2011 Price water house Coopers Report, India’s GDP at purchasing power parity could overtake that of the United States. During the next four decades, Indian GDP is expected to grow at an annualised average of 8%, making it potentially the world’s fastest-growing major economy until 2050.
