| Business and Economic Terms-India |
| GATS | General Agreement on Trade in Services |
|
| GATT | General Agreement on Tariffs and Trade. |
| GDP | The total value of all goods and services produced domestically each year by a country. It equals gross national product minus income from abroad. Most countries use this definition; US official statistics use gross national product. |
| GNP | The total value of goods and services produced each year by a country. Real growth in GNP measures the increase in output after subtracting the effect of inflation. |
| Gross domestic fixed capital formation | Total spending on fixed investment, e.g. machines, factories, offices. |
| GSP | Generalized System of Preferences |
| Horizontal integration | Two companies merge in the same industry and at the same stage of production. |
| HS | Harmonized Commodity Description and Coding System |
| Human development index | An index devised by the UN to assess comparative levels of development in countries. Its three main matrices are literacy, life expectancy, and purchasing power parity (PPP)-adjusted income. |
| ICITO | Interim Commission for the International Trade Organization |
| ILO | International Labour Organization |
| IMF | International Monetary Fund |
| Income tax | Tax levied by the government on incomes like wages, commissions, rent, interest and dividends etc. |
| Index funds | Mutual fund that aims to track the performance of a specific stock market index. Such funds are passively managed and thus tend to have lower charges than actively managed funds. |
| Index | A benchmark against which financial or economic performance is measured, such as the FTSE 100 or a consumer price index. Created by statistical sampling of broad set of data. To reflect the importance of the biggest companies, stock market indices tended to be weighted either by price, e.g. the Dow Jones Industrial Average or market capitalization, e.g. the S&P500 and stock indices. |
| Indifference curves | Curves which show the different combinations of two goods which give equal satisfaction. |
| Indirect taxation | A surcharge on price imposed on the sale of goods and services by the government. |
International Bank for
Reconstruction and Development | More commonly known as the World Bank. It gives long-term loans to member countries for high priority infrastructure, agricultural, industrial and educational projects. |
| International Monetary Fund (IMF) | An organization established to encourage international cooperation in the monetary field, the stabilization of exchange rates and the removal of foreign exchange restrictions. |
| IS-LM | A model of income determination that integrates the goods market (represented by investment and saving) and the money market (demand and supply of money) |
| ITC | International Trade Centre |
| ITO | International Trade Organization |
| J effect | The tendency for a fall in the value of the currency to worsen the balance of trade before it improves the position. |
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