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INDIA BECOMES A TRILLION DOLLAR ECONOMY.
NEW DELHI, June 1 Asia Pulse - Propelled by growth in services and manufacturing sectors, coupled with an appreciating rupee, India's economy has swelled to US$1 trillion, making it only the 12th nation to reach this milestone.
According to government data released Thursday, the country's economy at market prices stood at Rs 41257.24 million at the end of fiscal 2006-07 -- which equals nearly US$1,010 billion at the current foreign exchange rate of the rupee.
The rupee was trading at 40.72 to a dollar on Wednesday, up from Wednesday close of 40.86/87.
However, the rupee's level at the end of last fiscal was near 43 against the greenback, which puts the GDP in dollar terms at US$957 billion.
While at factor cost the economy expanded by 9.4 per cent to Rs 37434.72 billion market prices the growth translated to over 15 per ...
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Source: HighBeam Research, INDIA BECOMES A TRILLION DOLLAR ECONOMY.