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Despite this phenomenal rate of growth, India's large population has a per capita income of $2,659, measured by PPP, and $978, measured in nominal terms (revised 2007 estimate). However, since the early 1990s, India has gradually opened up its markets through economic reforms by reducing government controls on foreign trade and investment. India is a major exporter of highly-skilled workers in software and financial services, and software engineering. The advent of the digital age, and the large number of young and educated populace fluent in English, is gradually transforming India as an important 'back office' destination for global outsourcing of customer services and technical support. At this rate of sustained growth many economists forecast that India would, over the coming decades, have a more pronounced economic effect on the world stage. The privatisation of publicly owned industries and the opening up of certain sectors to private and foreign interests has proceeded slowly amid political debate. India's economy is diverse and consist of various activities including manufacturing, agriculture and services. Although (exact fraction needed here) of the Indian workforce still earn their livelihood directly or indirectly through high tech, services are a growing sector and play an increasingly important role in India's economy..1% for the fiscal year 2007–2008 which makes it the second fastest
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