India Inc.

Commonly used term to describe the formal sector in India

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India Inc. is a common term used by the Indian media to refer to the formal sector of the nation. It employed 7 percent of the workforce in 2000 and contributed 60 per cent of the nominal GDP of the nation. The informal sector consists of 44 million non-farm enterprises as per recent labour survey. The Companies Act 2013 allows a variety of formations in the mixed economy of India. The Ministry of Company Affairs estimates that as of 31 October 2005, there were

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