The largest Indian partners with their total trade (sum of imports and exports) in millions of US Dollars for fiscal year 2010-2011are as follows: Country | Exports | Imports | Total Trade | Balance of Trade | United Arab Emirates | 34,349.10 | 32,753.16 | 67,102.26 | 1595.94 | China | 19,615.85 | 43,479.76 | 63,095.61 | -23863.91 | United States | 25,548.40 | 20,050.72 | 45,599.12 | 5497.68 | Saudi Arabia | 5,227.19 | 20,385.28 | 25,612.46 | -15158.09 | Switzerland | 677.56 | 24,802.00 | 25,479.55 | -24124.44 | Hong Kong | 10,329.65 | 9,415.40 | 19,745.06 | 914.25 | Germany | 6,758.84 | 11,891.37 | 18,650.20 | -5132.53 | Singapore | 10,302.71 | 7,139.31 | 17,442.02 | 3163.4 | Indonesia | 6,245.33 | 9,918.63 | 16,163.96 | -3673.3 | Belgium | 6,296.21 | 8,609.82 | 14,906.02 | -2313.61 | South Korea | 4,140.37 | 10,475.29 | 14,615.66 | -6334.92 | Japan | 5,191.23 | 8,632.03 | 13,823.26 | -3440.8 | Iran | 2,742.46 | 10,928.21 | 13,670.67 | -8185.75 | Nigeria | 2,259.09 | 10,787.72 | 13,046.81 | -8528.63 | United Kingdom | 7,140.52 | 5,396.78 | 12,537.30 | 1743.74 …show more content…
According to the World Bank, as of 2011, the Indian economy is nominally worth US$1.848 trillion; it is the tenth-largest economy by market exchange rates, and is, at US$4.457 trillion, the third-largest by purchasing power parity, or PPP. With its average annual GDP growth rate of 5.8% over the past two decades, and reaching 6.1% during 2011–12, India is one of the world's fastest-growing economies. However, the country ranks 140th in the world in nominal GDP per capita and 129th in GDP per capita at PPP. Until 1991, all Indian governments followed protectionist policies that were influenced by socialist economics. Widespread state intervention and regulation largely walled the economy off from the outside world. Traditional Indian society is defined by a relatively strict social hierarchy. The Indian caste system embodies much of the social stratification and many of the social restrictions found in the Indian subcontinent. Social classes are defined by thousands of endogamous hereditary groups, often