The India's economy is best-known for its information technology and business process outsourcing industries. It also ranks second worldwide in farm output and 12th in the world in terms of nominal factory output. Combined, these industries have propelled the country's economy to become the fourth largest in the world, based on purchasing power parity. Below are five High dividend paying stock India that is listed on NSE (National Stock Exchange).

NRB Bearings Limited (NSE: NREBEARING)

It is engaged in the manufacture of ball and roller bearings. The Needle Roller Bearing is the Company's flagship product. Its products also include cylindrical roller bearings, spherical roller bearings, wide inner ring bearings, tapered roller bearings and ball bearings. Its product range also includes crank pins, ball bearings, and tapered roller bearings. The company's products are used in various industries such as automotive, tractor and farm equipment, off highway and agency division.

It has a market capitalization of 3.22 Billion, EPS is 1.22, P/E ratio is 27.22 and the dividend yield is 6.02% at the annual dividend payout of 1.70.

Bimetal Bearings Limited (NSE: BIMETAL)

It is engaged in the manufacturing of Engine bearings, Bushings, Thrust Washers, Alloy Powder and Bimetallic Strips. Its Thrust washers up to 225 millimeter OD; copper alloy powders includes water atomized copper and copper-based alloy powder and process established for lead free copper alloy powders; sintered copper strips includes 0.75 mm up to 5.50 millimeter thickness and 70 millimeter up to 250 millimeter width, and aluminum alloy strips includes cladded aluminum alloy strips, up to 5.50 millimeter thickness and 70 millimeter to 200 millimeter width.

The company has a market capitalization of 690.60 Million, EPS is 20.12, P/E ratio is 8.97 and the dividend yield is 4.98% at the annual dividend payout of 9.00.

Sterling Tools Ltd (NSE: STERTOOLS)

Sterling Tools Limited is an India-based company which is engaged in the manufacturing and marketing of tensile cold forged fasteners. The company's products include special fasteners, Standard Fasteners, Surface treatment and coating, Chassis Fasteners and Engine Fasteners. The range of Chassis Fasteners include hub/wheel bolts, hub nuts, wheel studs, suspension bolts, propeller shaft bolts/nuts, center bolts, track shoe bolts/nuts, rivets and two wheeler spindles/wheel axles.

The company has a market capitalization of 628.33 Million, EPS is 16.56, P/E ratio is 5.54 and the dividend yield is 5.45% at the annual dividend payout of 5.00.

Finolex Cables Ltd (NSE: FINCABLES)

It is engaged in manufacturing of electrical and communication cables. The company has two operating segments: Electrical Cables and Communication Cables. The segmentation of the products manufactured by the Company includes Electrical Cables includes 1100 V PVC insulated cables, Motor winding PVC insulated cables and three core flat cables, Automotive/battery cables, USP cables, Heavy duty, underground, low voltage, powder and control cables, and Heavy duty, underground, high voltage power Cables.

It has a market capitalization of 8.29 Billion, EPS is 9.57, P/E ratio is 5.66 and the dividend yield is 2.21% at the annual dividend payout of 1.20.

Precision Wires India Ltd (NSE: PRECWIRE)

It is an India-based company, which is engaged in manufacture of winding wires of copper. It operates in the single business segment of Winding Wires made of Copper. The company offers Enabled Round Winding Wires, Enameled Strips, Paper Insulated Copper Conductors and Continuously Transposed Conductors. As of March 31, 2012 it installed capacity is over 30,000 metric tons. It has three manufacturing facilities located at Silvassa, Dadra Nagar Haveli and Palej, Gujarat.

It has a market capitalization of 514.00 Million, EPS is 14.64, 3.04 and the dividend yield is 9.00% at the annual dividend payout of 1.50.