About India About Indian economy Economic Profile of Jharkhand Economic Profile of JORDAN Comparative Study of Economic Environment of India and Jordan Impact of Culture & Trade Agreement European Free Trade Association Facts Reference

1. INTERNATIONAL ECONOMIC ENVIRONMENT (IEE)
A
Report
On
Economic Environment of India and Jordan
&
Overview of European Free Trade Association
Submitted by:
26. Avani Kacha
34. Pranav Veerani
Group No. : 16
Submitted to:
Dr. Sarika Srivastava
Assistant Professor
GSMS, GTU
GRADUATE SCHOOL OF MANAGEMENT STUDIES
Gujarat Technological University,
Ahmadabad
Academic Year: 2018-20

2. 2
INDEX
TOPIC SUGGESTIVE CONTENT TO BE COVERRED
PAGE
NO.
About India Geographical location, Neighboring Countries 5
About Indian Economy
Various Sectors, Major Productions, Contribution of
major industries in GDP
6
Economic Profile of Jharkhand
Geographical location, Natural resources, export
items, import items, major goods/ services, major
dealing with foreign Country
7
Economic profile of Jordan
Geographic and Demographic Facts , Neighboring
Countries,
9
Export-Import Item, value 10
Impact of Trade Agreement Trade agreement 10
Comparative study of
Economy Environment of
India and Jordan
Table and chart 11
About European Free Trade
Association
Establishment year, Need, Importance, Function,
Flag, member Countries, Facts
14
Learning from Project Conclusion 17

3. 3
List of Table
Table No. Table Description Page No.
1
Contribution of major
industries in GDP
6
2 Major Export 10
3 Major Export 10
4
Comparative Study of
Economic Environment of
India and Jordan
11
5
European Free Trade
Association
14

4. 4
List of Image
Image No. Image Description Page No.
1 About Indian economy 5
2 Economic Profile of Jharkhand 7
3 Major export 8
4 Jordan Map 9
5 Jordan Flag 9
6
Comparative Study of
Economic Environment of
India and Jordan Chart
12
7
India-Jordan Relations: An
Ascendant Partnership
13
8
European Free Trade
Association
14

5. 5
About Indian economy
• India is crowned by the great Himalayas in the northern end and surrounded by huge
oceans on the other three sides. While the Arabian Sea borders the south west side, the
south east is lulled by the Bay of Bengal and the southern tip, and Kanya Kumari (Cape
Cameron) is washed by the waves of the Indian Ocean.
• India lies to the north of the equator between 8.4 and 37.6 degrees north latitude and
68.7 and 97.25 degrees east longitude
• India measures 3214 kms from north to south and 2933 kms from east to west. It has a
land frontier of 15,200 kms and a coastline of 7516.5 kms.
• India shares its political borders with Pakistan and Afghanistan on the west, Bangladesh
and Burma in the east, Nepal, China, Tibet and Bhutan in the north.
• Jharkhand has around 40 per cent of the country’s mineral wealth.
• The state is one of the largest producers of coal, mica and copper in India.
• Due to its large mineral reserves, mining and mineral extraction are the major industries
in the state.
Image 1

6. 6
About Indian Economy
1.Agriculture & Allied Sector :
This sector includes forestry and fishing also. This sector is also known as the primary sector of
the economy. It is worth to mention that agriculture sector provides jobs to around 53%
population of India.
2. Industry Sector :
This sector includes 'Mining & quarrying', Manufacturing (Registered & Unregistered), Gas,
Electricity, Construction and Water supply. This is also known as the secondary sectors of the
economy.
3. Services Sector:
Services sector includes 'Financial, real estate & professional services, Public Administration,
defense and other services, trade, hotels, transport, communication and services related to
broadcasting. This sector is also known as tertiary sector of the economy.
This sector is the backbone of the Indian economy.
 Major production of Indian Economy
The world’s largest producer of pulses, rice, wheat, spices and spices product.
Emerged as the second largest producer of fruits and vegetables in the worldGross Value Added
by agriculture, forestry and fishing is estimated at Rs 17.67 trillion (US$ 274.23 billion) in FY18.
Table1.Contribution of major industries in GDP

7. 7
Economic Profile of Jharkhand
• Jharkhand is located in the eastern part of India. The state shares its borders with West
Bengal in the east, Uttar Pradesh & Chhattisgarh in the west, Bihar in the north &
Odisha in the south.
• Commonly spoken languages of the state are Hindi and Santhal; Urdu & Bengali are also
prevalent. English is the primary medium of education.
• Forests and woodlands occupy more than 29 per cent of the area under the state.
• Jamshedpur, Dhanbad, Bokaro, Deoghar & Hazaribagh are some of the major cities &
industrial areas in the state.
• Natural Resources
• At present, the State is having 29.61% of its total landmass under forest cover.
• Jharkhand is rich in mineral resources such as coal (27.3 per cent of India’s reserves),
iron ore (26 per cent of India’s reserves), copper ore (18.5 per cent of India’s reserves),
uranium, mica, bauxite, granite, limestone, silver, graphite, magnetite and dolomite.
• Major Goods/Services:
1. Mineral-rich state
2. Second largest iron ore deposits
3. Leading producer of minerals in India
4. Sole producer of coking coal, uranium and pyrite
5. Renowned educational institutes
6. Largest producer of tussar silk
Image 2

8. 8
• Major Export Import of Jharkhand with Foreign countries.
• Total exports from the state stood at US$ 1,116.53 million during 2017-18.
• Major items exported from the state of Jharkhand are Iron and steel, motor
vehicles, auto components, etc.
• During 2017-18, total exports of Iron and Steel from Jharkhand stood at US$
537.65 million which was 48.15 per cent of the total exports.
Image 3

9. 9
Jordan
Geography and Demography:
• Jordan is a relatively small country situated at the junction of the Levantine and Arabian
areas of the Middle East. The country is bordered on the north by Syria, to the east by
Iraq, and by Saudi Arabia on the east and south. To the west is Israel and the occupied
West Bank, while Jordan’s only outlet to the sea, the Gulf of Aqaba, is to the south.
Jordan occupies an area of approximately 96,188 square kilometers including the Dead
Sea, making it similar in size to Austria or Portugal. However, Jordan’s diverse terrain
and landscape belie its actual size, demonstrating a variety usually found only in large
countries.
• Western Jordan has essentially a Mediterranean climate with a hot, dry summer, a cool,
wet winter and two short transitional seasons. However, about 75% of the country can
be described as having a desert climate with less than 200 mm. of rain annually. Jordan
can be divided into three main geographic and climatic areas: the Jordan Valley, the
Mountain Heights Plateau, and the eastern desert, or Badia region.
Image 5
Image 4

10. 10
Major Export
Major Import
Table 2
Table 3

11. 11
Comparative Study of Economic Environment of India and Jordan
No. Stat Jordan India
1. GDP($billion) 89.05 9459.01
2. Global Rank GDP 88 3
3. GDP growth rate 2.3% 2.3%
4. Export ($billion) 7.734 27.84
5. Import ($billion) 17.61 45.24
6. Gross national saving 11.8% 29.01%
7.
Population below poverty
line
14.2% 21%
8. Labour force ($million) 2.295 1316.01
9. Unemployment rate 16.5% 10%
10. Inflation rate 3.3% 6.49%
11. Population Global rank 91 2
12. Agriculture part in GDP 4.3% 47.41%
13. Industry part in GDP 28.9% 24.76%
14. Services part in GDP 66.8% 27.83%
15. Area(million square km) 1,680 3,287,000
Table 4

12. 12
Image 6

13. 13
India-Jordan Relations: An Ascendant Partnership
• India and Jordan established diplomatic relations in 1950 after India became
a Republic, although the first bilateral agreement on cooperation and friendly
relations was entered into soon after Indian independence in 1947. The
exchange of bilateral visits at high political and senior official levels declined
significantly after King Abdullah’s productive visit in 2006. The relationship
has failed to realize the huge, untapped potential.
• During her visit to India in 2006 accompanying King Abdullah II, Queen Rania
had described India as the "rising star of Asia" and Jordan's "natural partner".
On India's role in the Middle East, she had stated that the region "yearns for
India to play a greater role", and added that "India has an important role
because you have always had contact with us and understand our
sensitivities."
• According to informed sources, one of the most significant Agreements to be
signed between the two countries during King Abdullah’s visit will be in the
area of security and defence. In addition to joint exercises, training and
intelligence sharing, the Pact is also likely to include capacity building, cyber
security, supply and maintenance of defence equipment and hardware.
• India is Jordan's fourth largest trade partner after Iraq, Saudi Arabia and
China. Bilateral trade totalled USD 2.2 billion in 2014-15. India exported 1.4
billion worth of goods to Jordan, and imported 857 million. Since 2012-13, the
balance of trade has been in India’s favour. Trade volume over the last two
years has declined on account of weak international performance. A target of
USD five billion has been set for 2025.
• Jordan Phosphate Mines Company (JPMC) and Indian Farmers Fertilisers
Cooperative (IFFCO) established a joint venture project worth USD 860 million for
manufacturing Phosphoric Acid. This was jointly inaugurated by King Abdullah II and
then President Pranab Mukherjee.
• Indians owned around 25 textile mills in Qualified Industrial Zones (QIZs) in Jordan
at a total investment of USD 300 million. These mills employ over 10,000 people.
ICT, renewable energy, financial/banking services, leather, automobile, higher
education, tourism, Bollywood, pharmaceuticals and construction sectors present
good potential for increased trade and investment.
Image 7

14. 14
European Free Trade Association
The European Free Trade Association (EFTA) is the intergovernmental organisation of
Iceland, Liechtenstein, Norway and Switzerland. It was set up in 1960 by its then seven
Member States for the promotion of free trade and economic integration between its
members.
The main tasks of the Association are threefold:
 Maintaining and developing the EFTA Convention, which regulates economic
relations between the four EFTA States;
 Managing the Agreement on the European Economic Area (EEA Agreement),
which brings together the Member States of the European Union and three of the
EFTA States – Iceland, Liechtenstein and Norway – in a single market, also
referred to as the “Internal Market”.
 Developing EFTA’s worldwide network of free trade agreements.
Table 5
Image 8

15. 15
Mission
The European Free Trade Association (EFTA) is an intergovernmental organisation set
up for the promotion of free trade and economic integration to the benefit of its four
Member States – Iceland, Liechtenstein, Norway and Switzerland – and the benefit of
their trading partners around the globe.
Member States
The four EFTA States are all open, competitive economies committed to the
progressive liberalization of trade in the multinational arena as well as in free trade
agreements.
History
EFTA was founded by the Stockholm Convention in 1960. Relations with the EEC, later
the European Community (EC) and the European Union (EU), have been at the core of
EFTA activities from the beginning. Since the beginning of the 1990s, EFTA has actively
pursued trade relations with third countries in and beyond Europe.
Key Figures
The four EFTA States are open, developed economies with trade figures that are
substantially higher than might be expected from a total of less than 14 million people.
EFTA is the ninth largest trader in the world in merchandise trade and the fifth largest in
trade in services. EFTA is the third most important trading partner in goods for the EU
and the second most important when it comes to services.
Annual Budget
EFTA’s budget is prepared in two currencies: Swiss francs (CHF) and euros (EUR). The
total budget for 2018 was equivalent to CHF 21 677 000 and the EFTA Secretariat has
fewer than 90 employees.

16. 16
EFTA Countries & Members Countries
Table 6

17. 17
learning
• We come to know about the Indian Economy Export and Import of major product of
Indian economy. As we know India’s major population is depended on agriculture but
now a days service sector play a significant role in GDP.
• During the study of Jharkhand we know that what are the natural resources, major
import and export also 3rd
“Ease of Doing Business” and also ranked 5th Foreign Direct
Investment (FDI) destination in India.
• From above data, we get a clear idea about Jordan’s economy.Jordan has essentially a
Mediterranean climate with a hot, dry summer, a cool, wet winter and two short
transitional seasons. However, about 75% of the country can be described as having a
desert climate with less than 200 mm.
• How much the member of EFTA and what are the main objective and importance of
EFTA. EFTA is to eliminate internal barriers in non-agricultural goods.To achieve free
trade in industrial goods among EFTA countries; to cooperate with EU.

18. 18
References
• http://www.ibef.org/economy
• http://www.ibef.org/states/tripura.aspx
• http://www.jharkhand.gov.in/
• http://www.cia.gov
• https://www.indexmundi.com/jordan/economy_profile.html
• http://worldpopulationreview.com/countries/jordan-population/
• https://currentaffairs.gktoday.in/india-jordan-ink-12-agreements-03201853081.html
• http://www.efta.int/about-efta/european-free-trade-association