Select economic indicators  The major macroeconomic indicators for the last seven years are given in the Table 2 (attached) which broadly summarizes the quantitative achievements. GDP growth Over the last four years during 2003-07, the Indian economy has entered a high-growth phase, with the GDP growth averaging 8.6 per cent per annum.
The acceleration of growth during this period has been accompanied by a significant moderation in volatility, especially in industry and services sectors. The structure of domestic output has distinctly shifted in favor of the services sector, while growth in industry is also accelerating. Indian industry appears to have responded well to global competition through restructuring and technological upgradation in recent years.