The Indian economy witnessed a high FDI inflow after the reform of economic liberalization. The increasing trend continued in the last financial year 2017-18. This increase can be attributed to factors such as the high rate of GDP growth, low inflation rate, exchange rate, trade openness and economic and political stability.
The Indian pharmaceutical industry has emerged as the third largest country in the world in terms of volume with a turnover amounting to US $ 21.04 billion in 2009. In addition to this, the industry includes more than 20,000 licensed companies that employs 500,000 people (Industry, 2011).
The metallurgical industry has played a significant role in India’s economic growth. India produces 95 minerals, 4 fuel related minerals, 10 metallic minerals, 23 nonmetallic minerals, 3 atomic minerals and 55 minor minerals including building and another type of minerals (FICCI, 2018).
The Indian textile industry has occupied a prominent place in the economic development of the country since independence. The industry has expanded at a very fast rate to become the second largest producer of textile and garments.
The Indian chemical industry has gained a major share in Asia’s growing contribution to the global chemical industry. It has also emerged as one of the preferred destinations for investment in the chemical industry worldwide (Chambers, Road, & Nadu, 2012).
Autoregressive Integrated Moving Average (ARIMA) is popularly known as Box-Jenkins method. The emphasis of this method is on analyzing the probabilistic or stochastic properties of a single time series. Unlike regression models where Y is explained by X1 X2….XN regressor (like the introductory case where GDP is explained by GFC and PFC), ARIMA allows Y (GDP) to be explained by its own past or lagged values.
The purpose of this article is to explain the process of determining and creating stationarity in time series analysis. Creating a visual plot of data is the first step in time series analysis. Graphical representation of data helps understand it better.