ISLAMABAD: As the currency value has depreciated over the last few months, the size of the Indian economy, measured in hard currency at current prices would be around USD 1.6 or USD 1.7 trillion, a latest ASSOCHAM reported.
"The size of the Indian economy had reached the near USD 2 trillion, but the rupee depreciation has squeezed its size in dollar terms," said the ASSOCHAM paper on "India's External Engagement".
According tothe report, As the country's external engagement in terms of trade of goods and services has crossed USD one trillion, as much as 66 percent of India's economy has been inter-woven with the world economy, with the result that all major global events have begun to leave significant impact on the domestic market.
As a growing economy, the recent slowdown notwithstanding, we have become close to USD 600 billion market for the world producers of goods and services. As exports, in turn, fall shorter than the imports.
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