3. India
The economic development in India followed socialist-inspired policies for
most of its independent history, including state-ownership of many
sectors; India's per capita income increased at only around 1% annualised
rate in the three decades after its independence. Since the mid-1980s,
India has slowly opened up its markets through economic liberalisation.
After more fundamental reforms since 1991 and their renewal in the
2000s, India has progressed towards a free market economy.
India's GDP growth during January–March period of 2015 was at 7.5%
compared to China's 7%, making it the fastest growing economy. During
2014-15, India's GDP growth recovered marginally to 7.3% from 6.9% in
the previous fiscal. During 2014-15, India's services sector grew by 10.1%,
manufacturing sector by 7.1% & agriculture by 0.2%. The Indian
government has forecast a growth of 8.1-8.5% during 2015-16.
4. Agriculture and Employment sector
• Agriculture sector
• India ranks first worldwide in
farm output. Agriculture and
allied sectors like forestry,
logging and fishing accounted
for 18.6% of the GDP in 2005,
employed 60% of the total
workforce and despite a steady
decline of its share in the GDP,
is still the largest economic
sector and plays a significant
role in the overall socio-
economic development of
India.
• Employment sector
• India's labour force is growing by
2.5% every year, but employment is
growing only at 2.3% a
year. Official unemployment
exceeds 9%.
• From the overall stock of an
estimated 458 million workers,
394 million (86%) operate in the
unorganised sector (of which 63%
are self-employed) mostly as
informal workers. There is a strong
relationship between the quality of
employment and social and poverty
characteristics.The relative growth
of informal employment was more
rapid within the organized rather
than the unorganised sector.
5. Bangladesh
Bangladesh is a developing country that is classified as a Next
Eleven emerging market and one of the Frontier Five.
According to a recent opinion poll, Bangladesh has the second
most pro-capitalist population in the developing world.
Between 2004 and 2014, Bangladesh averaged a GDP growth
rate of 6%. The economy is increasingly led by export-
oriented industrialization. The Bangladesh textile industry is
the second-largest in the world. Other key sectors
include pharmaceuticals,shipbuilding, ceramics, leather goods
and electronics.
6. Agriculture and Employment sector
• Agriculture sector
• Most Bangladeshis earn their
living from agriculture.Although
rice and jute are the primary
crops, maize and vegetables are
assuming greater importance.Due
to the expansion of irrigation
networks, some wheat producers
have switched to cultivation of
maize which is used mostly as
poultry feed. Tea is grown in the
northeast. Because of
Bangladesh's fertile soil and
normally ample water supply, rice
can be grown and harvested
three times a year in many areas.
• Employment sector
• 87.71% of the workers in
Bangladesh are under informal
employment. The highest
concentration of informal workers
is found in the rural areas (92%).
Workers engaged in informal
employment are mostly in
agriculture; hunting and forestry;
wholesale and retail trade;
manufacturing; and transport,
storage, and communications
sectors. On the other hand,
formal workers are primarily
employed by the government.
7. Japan
The economy of Japan is the third largest in the world by nominal
GDP, the fourth largest by purchasing power parity and is the world's
second largest developed economy. According to the International
Monetary Fund, the country's per capita GDP(PPP) was at $36,899, the
22nd-highest in 2013.Japan is a member of G7. The Japanese economy is
forecasted by Tankan survey of business sentiment conducted by
the Bank of Japan.
8. Agriculture and Employment sector
• Agriculture sector
• Japan is the second-largest
agricultural product importer in the
world. Rice, the most protected
crop, is subject to tariffs of
777.7%. The Japanese agricultural
sector accounts for about 1.4% of
the total country's GDP. Only 12%
of Japan's land is suitable for
cultivation.] Due to this lack of
arable land, a system of terraces is
used to farm in small areas. This
results in one of the world's
highest levels of crop yields per
unit area, with an overall
agricultural self-sufficiency rate of
about 50% on fewer than
56,000 km² (14 million acres)
cultivated.
• Employment sector
• Many both in and outside
of Japan share an image of
the Japanese work environment that is
based on a "simultaneous recruiting of
new graduates and "lifetime-
employment model used by large
companies as well as a reputation of
long work-hours and strong devotion to
one's company.. At the very top, the
most prestigious companies would
recruit and retain the best workers by
offering better benefits and truly
lifetime job security. By the 1960s,
employment at a large prestigious
company had become the goal of
children of the new middle class, the
pursuit of which required mobilization
of family resources and great individual
perseverance in order to achieve
success in the fiercely
competitive education system.
9. U.S.A
The United States is the world's largest national economy, representing
22% of nominal global GDP and 17% of global GDP (PPP). The United
States' GDP was estimated to be $17.841 trillion as of Q2 2015.The U.S.
dollar is the currency most used in international transactions and is the
world's foremost reserve currency. Several countries use it as their official
currency, and in many others it is the de facto currency. The United States
has a mixed economy and has maintained a stable overall GDP growth
rate.
10. Agriculture and Employment sector
• Agriculture sector
• The United States Department of
Agriculture (USDA), also known as
the Agriculture Department, is
the U.S. federal executive
department responsible for developing
and executing federal
government policy on farming,
agriculture, forestry, and food. It aims
to meet the needs of farmers and
ranchers, promote agricultural trade
and production, work to assure food
safety, protect natural resources, foster
rural communities and end hunger in
the United States and internationally.
• Employment sector
• There are approximately 154.4 million
employed individuals in the US.
Government is the largest employment
sector with 22 million. Small businesses
are the largest employer in the country
representing 53% of US workers. The
second largest share of employment
belongs to large businesses that employ
38% of the US workforce. The private
sector employs 91% of working
Americans. Government accounts for
8% of all US workers. Over 99% of all
employing organizations in the US are
small businesses. The 30 million small
businesses in the U.S. account for 64%
of newly created jobs (those created
minus those lost). Jobs in small
businesses accounted for 70% of those
created in the last decade.
