As India commemorates its 78th Independence Day on August 15, Business Standard looks at the economic journey of the nation over these years. This year's theme "Viksit Bharat" sions India becoming a developed nation by 2047.
India has made significant progress in various areas. The gross domestic product (GDP) at current pris around $3.5 trillion, making it the fifth-largest economy globally.
It was under $1 trillion in the 1960s and stood at the 8th-9th position, according to the data from the World Bank.
Sector-wise contribution to the economy has also shifted over the decades. In 1963-64, agriculture and allied sectors contributed 43.4 per cent to the gross value added (GVA).
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