Indian legal system is based on the English common law. Supreme Court judges are appointed by the President and remain in office until they reach the age of 65. India is a member of many international organizations. These include the WTO, IMF, ISO, UNIDO and dozens more. In 1991, India began reforming economically. Tariff and tax rates were slashed and simplified and the rupee is now convertible.3.1.5Fiscal CharacteristicsIndia's budget revenues are worth $35.8 billion and its expenditures $66.3 billion, including capital expenditures of $15.9 billion. The industrial production growth rate is 6%. Textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum and machinery are the main industries in India. Exports from India in 1999 were worth approximately $36.3 billion. These include commodities such as textile goods, gems and jewelry, engineering goods, chemicals and leather manufactures. India's main partners in trade are the United States, Russia, Japan, Iraq, Iran, and central and eastern Europe. India's exports to Canada were valued at over $1 billion. India's total imports were valued at about $50.2 billion in 1999. These import commodities included crude oil and petroleum products, machinery, gems fertilizer and chemicals. India's external debt is valued at $98 billion. US$ 1 is equal to 45.797 rupees, which, is India's currency. 3.1.6Physical InfrastructureThe diversity of the Indian population is matched by its incredible physical diversity. India is the seventh largest country in land area with 3 287 263 sq. km. Northern India is home to the Himalayan mountain range and the third tallest mountain on the planet, Kanchenjunga (28,208 ft, 8,598 m). South of the Himalayas lies the valley of the great Ganges River. The river has created the wide and flat Gangetic Plain where millions of Indians live and rely on the water of the Ganges. The Ganges drains the south slopes of the Himalayas and flow...
