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- GDP: Gross Domestic Product (GDP) is the total money value of final goods and services produced in the economic territories of a country in a given year.
- GDP stands for total value of goods and services produced inside the territory of India irrespective of whom produced it – whether by Indians or foreigners.
- GNP: Gross National Product (GNP) is the total value of goods and services produced by the people of a country in a given year. It is not territory specific.
- If we consider the GNP of India, it can be seen that GNP is lesser than GDP.