<P> The business process outsourcing services in the outsourcing industry in India caters mainly to Western operations of multinational corporations . As of 2012, around 2.8 million people work in the outsourcing sector . Annual revenues are around $11 billion, around 1% of GDP . Around 2.5 million people graduate in India every year . Wages are rising by 10--15 percent as a result of skill shortages . </P> <P> India became the tenth - largest insurance market in the world in 2013, rising from 15th in 2011 . At a total market size of US $66.4 billion in 2013, it remains small compared to world's major economies, and the Indian insurance market accounts for 2% of the world's insurance business . India's life and non-life insurance industry has been growing at 20%, and double - digit growth is expected to continue through 2021 . The market retains about 360 million active life - insurance policies, the most in the world . Of the 52 insurance companies in India, 24 are active in life - insurance business . The life - insurance industry is projected to increase at double - digit CAGR through 2019, reaching US $1 trillion annual notional values by 2021 . </P> <P> The industry reported a growth rate of around 10% from 1996--97 to 2000--01 . After opening the sector, growth rates averaged 15.85% from 2001--02 to 2010--11 . Specialised insurers Export Credit Guarantee Corporation and Agriculture Insurance Company (AIC) offer credit guarantee and crop insurance, respectively . AIC, which initially offered coverage under the National Agriculture Insurance Company (NAIS), has now started providing crop insurance on commercial line as well . It has introduced several innovative products such as weather insurance and insurance related to specific crops . The premium underwritten by the non-life insurers during 2010--11 was ₹ 42,576 crore (₹ 425 billion) against ₹ 34,620 crore (₹ 346 billion) in 2009--10 . The growth was satisfactory, particularly given across - the - broad cuts in the tariff rates . The private insurers underwrote premiums of ₹ 17,424 crore (₹ 174 billion) against ₹ 13,977 crore (₹ 140 billion) in 2009--10 . Public sector insurers underwrote premiums of ₹ 25,151.8 crore (₹ 252 billion) in 2010--11 against ₹ 20,643.5 crore (₹ 206 billion) in 2009--10, a growth of 21.8% against 14.5% in 2009--10 . </P> <P> The Indian insurance business had been under - developed with low levels of insurance penetration . Post liberalisation, the sector has succeeded in raising penetration from 2.3 (life 1.8 and non-life 0.7) in 2000 to 5.1 (life 4.4 and non-life 0.7) in 2010 . </P>

Per capita income of china 2018 in rupees