<P> The economy of India is a developing mixed economy . It is the world 's fifth - largest economy by nominal GDP and the third - largest by purchasing power parity ( PPP ) . The country ranks 139th in per capita GDP ( nominal ) with $2,134 and 122nd in per capita GDP ( PPP ) with $7,783 as of 2018 . After 1991 economic liberalisation , India achieved 6 - 7 % average GDP growth annually . In FY 2015 and 2018 India 's economy became the world 's fastest growing major economy , surpassing China . </P>
<P> The economy of India is a developing mixed economy . It is the world 's fifth - largest economy by nominal GDP and the third - largest by purchasing power parity ( PPP ) . The country ranks 139th in per capita GDP ( nominal ) with $2,134 and 122nd in per capita GDP ( PPP ) with $7,783 as of 2018 . After 1991 economic liberalisation , India achieved 6 - 7 % average GDP growth annually . In FY 2015 and 2018 India 's economy became the world 's fastest growing major economy , surpassing China . </P>
what kind of economy does the india have
what kind of economy does the india have
developing mixed economy
developing mixed economy