Quiz on Reading Comprehension

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.

Directions: Read the following passage carefully and the questions given below it. 

The economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, an international forum for the governments and central bank governors from 20 major economies, a member of BRICS, and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP followed by the states of Tamil Nadu (US$140 billion) and Uttar Pradesh (US$130 billion). India's economy became the world's fastest-growing major economy in the last quarter of 2014, replacing the People's Republic of China. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

The Indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the "bright spot" in the global landscape. India also topped the World Bank’s growth outlook for 2015-16 for the first time with the economy having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17. India has the one of fastest-growing service sectors in the world with an annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13. India has become a major exporter of IT services, BPO services, and software services with $167.0 billion worth of service exports in 2013-14. It is also the fastest-growing part of the economy.

The IT industry continues to be the largest private-sector employer in India. India is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 the agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14). India ranks second worldwide in farm output. The Industry sector has held a constant share of its economic contribution (26% of GDP in 2013-14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in FY 2013-14.

India has $600 billion worth of the retail market in 2015 and one of the world's fastest-growing E-Commerce markets. India's two major stock exchanges, the Bombay Stock Exchange and the National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of Feb 2015, which ranks 11th & 12 largest in the world respectively according to the World Federation of Exchanges. India also home to the world's third-largest Billionaires pool with 111 billionaires in 2016 and the fourth-largest number of ultra-high-net-worth households that have more than 100 million dollars.

India is a member of the Commonwealth of Nations, the South Asian Association for Regional Cooperation, the Non-Aligned Movement, the G20, the G8+5, the International Monetary Fund, the World Bank, the World Trade Organisation, the United Nations, the Shanghai Cooperation Organisation, the New Development BRICS Bank the Asian Infrastructure Investment Bank and Missile Technology Control Regime.