ECONOMIC ANALYSIS OF INDIAThe Indian economy is the tenth largest in the world by nominal gross domestic product and the third largest in terms of PPP.India has had a growth of over 9% in 2005 -2008 fell to 6.7% in 2008-2009 due to the global financial crisis of the fiscal and monetary space, but with time the economy recovered with 8.4% growth in 2010-11. Again the slowdown in the Indian economy began in 2011-2012 when the growth rate fell to 6.70% from a level of 8%. The growth is between 5.30 and 5.50% in 2012-2013. The slowdown is not just limited to India but there has been a general overall slowdown in the entire global economy. Effects on the world The growth rate of developed economies fell from 3.0% in 2010 to 1.3% in 2012. Emerging economies slowed down during this particular period due to the slowdown in foreign markets as well. China's growth fell from 10.4% in 2010 to 7.8% in 2012. Brazil's growth fell from 7.5% in 2010 to 1.5% in 2012.(http://businesstoday. intoday.in/bt500/sector-wise-analysis.jsp )Economic survey for the year 2014Gross domestic product will grow up to 6.7% in 2014 and with the warning about inflation and a high current account deficit will be concerns 'year. The study states that the positive impact on the recovery of the world economy and many government policies includes measures for opening up foreign investment in various sectors such as retail and pharmaceuticals and including others as well. This study states that India is on track to achieve its fiscal deficit target of 5.3% of gross domestic product and to reduce it to 4.8% of gross domestic product in the next year i.e. 2015. This study recommends a further reduction in imports, mainly of gold. and to contain India's current account deficit, which stood at 4.2% of GDP in 2013 and is expected to be at a similar level in 2014. More foreign direct investment will be permitted in retail and other sectors , which could help the sectors through the introduction of new technologies and better infrastructure in the country. Gross Domestic Product In 2012, India's gross domestic product stood at US$ 1,841.70 billion. India's GDP accounts for 2.97% of the world economy. India's gross domestic product averaged about $485.65 billion from 1970 to 2012, consistently peaking at 1872.