The statistic shows GDP in India from 1987 to 2024, with projections up until 2030. In 2024, GDP in India was at around 3.91 trillion U.S. dollars, and it is expected to reach six trillion by the end of the decade. See figures on India's economic growth here, and the Russian GDP for comparison. Historical development of the Indian economy In the 1950s and 1960s, the decision of the newly independent Indian government to adopt a mixed economy, adopting both elements of both capitalist and socialist systems, resulted in huge inefficiencies borne out of the culture of interventionism that was a direct result of the lackluster implementation of policy and failings within the system itself. The desire to move towards a Soviet style mass planning system failed to gain much momentum in the Indian case due to a number of hindrances, an unskilled workforce being one of many.When the government of the early 90’s saw the creation of small-scale industry in large numbers due to the removal of price controls, the economy started to bounce back, but with the collapse of the Soviet Union - India’s main trading partner - the hampering effects of socialist policy on the economy were exposed and it underwent a large-scale liberalization. By the turn of the 21st century, India was rapidly progressing towards a free-market economy. India’s development has continued and it now belongs to the BRICS group of fast developing economic powers, and the incumbent Modi administration has seen India's GDP double during its first decade in power.

The Gross Domestic Product per capita in India was last recorded at 2396.71 US dollars in 2024. The GDP per Capita in India is equivalent to 19 percent of the world's average. This dataset provides - India GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Since the beginning of the 21st century, the BRICS countries have been considered the five foremost developing economies in the world. Originally, the term BRIC was used by economists when talking about the emerging economies of Brazil, Russia, India, and China, however these countries have held annual summits since 2009, and the group has expanded to include South Africa since 2010. China has the largest GDP of the BRICS country, at 16.86 trillion U.S. dollars in 2021, while the others are all below three trillion. Combined, the BRICS bloc has a GDP over 25.85 trillion U.S. dollars in 2022, which is slightly more than the United States. BRICS economic development China has consistently been the largest economy of this bloc, and its rapid growth has seen it become the second largest economy in the world, behind the U.S.. China's growth has also been much faster than the other BRICS countries; for example, when compared with the second largest BRICS economy, its GDP was less than double the size of Brazil's in 2000, but is almost six times larger than India's in 2021. Since 2000, the country with the second largest GDP has fluctuated between Brazil, Russia, and India, due to a variety of factors, although India has held this position since 2015 (when the other two experienced recession), and it's growth rate is on track to surpass China's in the coming decade. South Africa has consistently had the smallest economy of the BRICS bloc, and it has just the third largest economy in Africa; its inclusion in this group is due to the fact that it is the most advanced and stable major economy in Africa, and it holds strategic importance due to the financial potential of the continent in the coming decades. Future developments It is predicted that China's GDP will overtake that of the U.S. by the end of the 2020s, to become the largest economy in the world, while some also estimate that India will also overtake the U.S. around the middle of the century. Additionally, the BRICS group is more than just an economic or trading bloc, and its New Development Bank was established in 2014 to invest in sustainable infrastructure and renewable energy across the globe. While relations between its members were often strained or of less significance in the 20th century, their current initiatives have given them a much greater international influence. The traditional great powers represented in the Group of Seven (G7) have seen their international power wane in recent decades, while BRICS countries have seen theirs grow, especially on a regional level. Today, the original BRIC countries combine with the Group of Seven (G7), to make up 11 of the world's 12 largest economies, but it is predicted that they will move further up on this list in the coming decades.

The Gross Domestic Product (GDP) in India was worth 3912.69 billion US dollars in 2024, according to official data from the World Bank. The GDP value of India represents 3.69 percent of the world economy. This dataset provides the latest reported value for - India GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, the gross domestic product (GDP) of China amounted to around 18.7 trillion U.S. dollars. In comparison to the GDP of the other BRIC countries India, Russia and Brazil, China came first that year and second in the world GDP ranking. The stagnation of China's GDP in U.S. dollar terms in 2022 and 2023 was mainly due to the appreciation of the U.S. dollar. China's real GDP growth was 3.1 percent in 2022 and 5.4 percent in 2023. In 2024, per capita GDP in China reached around 13,300 U.S. dollars. Economic performance in China Gross domestic product (GDP) is a primary economic indicator. It measures the total value of all goods and services produced in an economy over a certain time period. China's economy used to grow quickly in the past, but the growth rate of China’s real GDP gradually slowed down in recent years, and year-on-year GDP growth is forecasted to range at only around four percent in the years after 2024. Since 2010, China has been the world’s second-largest economy, surpassing Japan.China’s emergence in the world’s economy has a lot to do with its status as the ‘world’s factory’. Since 2013, China is the largest export country in the world. Some argue that it is partly due to the undervalued Chinese currency. The Big Mac Index, a simplified and informal way to measure the purchasing power parity between different currencies, indicates that the Chinese currency yuan was roughly undervalued by 38 percent in 2024. GDP development Although the impressive economic development in China has led millions of people out of poverty, China is still not in the league of industrialized countries on the per capita basis. To name one example, the U.S. per capita economic output was more than six times as large as in China in 2024. Meanwhile, the Chinese society faces increased income disparities. The Gini coefficient of China, a widely used indicator of economic inequality, has been larger than 0.45 over the last decade, whereas 0.40 is the warning level for social unrest.

India recorded a Government Debt to GDP of 81.59 percent of the country's Gross Domestic Product in 2023. This dataset provides - India Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the past four centuries, the population of the Thirteen Colonies and United States of America has grown from a recorded 350 people around the Jamestown colony in Virginia in 1610, to an estimated 346 million in 2025. While the fertility rate has now dropped well below replacement level, and the population is on track to go into a natural decline in the 2040s, projected high net immigration rates mean the population will continue growing well into the next century, crossing the 400 million mark in the 2070s. Indigenous population Early population figures for the Thirteen Colonies and United States come with certain caveats. Official records excluded the indigenous population, and they generally remained excluded until the late 1800s. In 1500, in the first decade of European colonization of the Americas, the native population living within the modern U.S. borders was believed to be around 1.9 million people. The spread of Old World diseases, such as smallpox, measles, and influenza, to biologically defenseless populations in the New World then wreaked havoc across the continent, often wiping out large portions of the population in areas that had not yet made contact with Europeans. By the time of Jamestown's founding in 1607, it is believed the native population within current U.S. borders had dropped by almost 60 percent. As the U.S. expanded, indigenous populations were largely still excluded from population figures as they were driven westward, however taxpaying Natives were included in the census from 1870 to 1890, before all were included thereafter. It should be noted that estimates for indigenous populations in the Americas vary significantly by source and time period. Migration and expansion fuels population growth The arrival of European settlers and African slaves was the key driver of population growth in North America in the 17th century. Settlers from Britain were the dominant group in the Thirteen Colonies, before settlers from elsewhere in Europe, particularly Germany and Ireland, made a large impact in the mid-19th century. By the end of the 19th century, improvements in transport technology and increasing economic opportunities saw migration to the United States increase further, particularly from southern and Eastern Europe, and in the first decade of the 1900s the number of migrants to the U.S. exceeded one million people in some years. It is also estimated that almost 400,000 African slaves were transported directly across the Atlantic to mainland North America between 1500 and 1866 (although the importation of slaves was abolished in 1808). Blacks made up a much larger share of the population before slavery's abolition. Twentieth and twenty-first century The U.S. population has grown steadily since 1900, reaching one hundred million in the 1910s, two hundred million in the 1960s, and three hundred million in 2007. Since WWII, the U.S. has established itself as the world's foremost superpower, with the world's largest economy, and most powerful military. This growth in prosperity has been accompanied by increases in living standards, particularly through medical advances, infrastructure improvements, clean water accessibility. These have all contributed to higher infant and child survival rates, as well as an increase in life expectancy (doubling from roughly 40 to 80 years in the past 150 years), which have also played a large part in population growth. As fertility rates decline and increases in life expectancy slows, migration remains the largest factor in population growth. Since the 1960s, Latin America has now become the most common origin for migrants in the U.S., while immigration rates from Asia have also increased significantly. It remains to be seen how immigration restrictions of the current administration affect long-term population projections for the United States.

Pakistan’s gross domestic product (GDP) growth was 5.77 percent in 2021 after adjusting for inflation.

GDP in developing nations

Gross domestic product measures value of all final goods and services produced within a country’s borders during a certain period of time. In developing countries, GDP should rise more quickly due to “catch-up growth”. In many developing nations, employment is shifted from agriculture to the services sector; simply shifting workers from one sector to more productive sectors increases the income of both the workers and their employers, increasing GDP. This raises GDP per capita (383750), which gives a general idea of the level of development.

International setting

Due to historic tensions, Pakistan neither imports nor exports a significant amount from its neighbor India, favoring China instead. Its other neighbors, Afghanistan and Iran, are not as economically stable at the moment. Pakistan's own GDP is also not in the best shape and is expected to drop during 2019, however, Pakistan stands to benefit from China’s Belt and Road Initiative, which would revive the trading routes that made Pakistan wealthy in past centuries. If this comes to fruition, the GDP for Pakistan is sure to increase.

Historical chart and dataset showing India exports by year from 1960 to 2023.

Inflation is generally defined as the continued increase in the average prices of goods and services in a given region. Following the extremely high global inflation experienced in the 1980s and 1990s, global inflation has been relatively stable since the turn of the millennium, usually hovering between three and five percent per year. There was a sharp increase in 2008 due to the global financial crisis now known as the Great Recession, but inflation was fairly stable throughout the 2010s, before the current inflation crisis began in 2021. Recent years Despite the economic impact of the coronavirus pandemic, the global inflation rate fell to 3.26 percent in the pandemic's first year, before rising to 4.66 percent in 2021. This increase came as the impact of supply chain delays began to take more of an effect on consumer prices, before the Russia-Ukraine war exacerbated this further. A series of compounding issues such as rising energy and food prices, fiscal instability in the wake of the pandemic, and consumer insecurity have created a new global recession, and global inflation in 2024 is estimated to have reached 5.76 percent. This is the highest annual increase in inflation since 1996. Venezuela Venezuela is the country with the highest individual inflation rate in the world, forecast at around 200 percent in 2022. While this is figure is over 100 times larger than the global average in most years, it actually marks a decrease in Venezuela's inflation rate, which had peaked at over 65,000 percent in 2018. Between 2016 and 2021, Venezuela experienced hyperinflation due to the government's excessive spending and printing of money in an attempt to curve its already-high inflation rate, and the wave of migrants that left the country resulted in one of the largest refugee crises in recent years. In addition to its economic problems, political instability and foreign sanctions pose further long-term problems for Venezuela. While hyperinflation may be coming to an end, it remains to be seen how much of an impact this will have on the economy, how living standards will change, and how many refugees may return in the coming years.

Per capita carbon dioxide (CO₂) emissions in India have soared in recent decades, climbing from 0.4 metric tons per person in 1970 to a high of 2.07 metric tons per person in 2023. Total CO₂ emissions in India also reached a record high in 2023. Greenhouse gas emissions in India India is the third-largest CO₂ emitter globally, behind only China and the United States. Among the various economic sectors of the country, the power sector accounts for the largest share of greenhouse gas emissions in India, followed by agriculture. Together, these two sectors were responsible for more than half of India's total emissions in 2023. Coal emissions One of the main reasons for India's high emissions is the country's reliance on coal, the most polluting of fossil fuels. India's CO₂ emissions from coal totaled roughly two billion metric tons in 2023, a near sixfold increase from 1990 levels.

In 2023, approximately a third of the total population in India lived in cities. The trend shows an increase of urbanization by more than 4 percent in the last decade, meaning people have moved away from rural areas to find work and make a living in the cities. Leaving the fieldOver the last decade, urbanization in India has increased by almost 4 percent, as more and more people leave the agricultural sector to find work in services. Agriculture plays a significant role in the Indian economy and it employs almost half of India’s workforce today, however, its contribution to India’s GDP has been decreasing while the services sector gained in importance. No rural exodus in sightWhile urbanization is increasing as more jobs in telecommunications and IT are created and the private sector gains in importance, India is not facing a shortage of agricultural workers or a mass exodus to the cities yet. India is a very densely populated country with vast areas of arable land – over 155 million hectares of land was cultivated land in India as of 2015, for example, and textiles, especially cotton, are still one of the major exports. So while a shift of the workforce focus is obviously taking place, India is not struggling to fulfill trade demands yet.

The industry sector accounted for the highest share of energy consumption across India in fiscal year 2024, at ** percent. The domestic sector followed, ranking second at ** percent. By comparison, traction and railways accounted for * percent of the total electricity consumption in India. Electricity penetration in India Despite the growth in electricity consumption in the country since the beginning of the century, around *** percent of Indian households had no access to electricity in 2020. Many people use traditional fuels such as wood or agricultural residues for cooking and heating purposes. In 2022, less than ** percent of the schools in India had access to electricity. The power sector in India India's rapidly growing economy is one of the nation's leading drivers of electricity demand. Accordingly, India ranks amongst the leading electricity-producing countries worldwide, just below China and the United States. In 2023, about ** percent of India's energy was sourced from renewable sources.

Literacy in India has been increasing as more and more people receive a better education, but it is still far from all-encompassing. In 2023, the degree of literacy in India was about 77 percent, with the majority of literate Indians being men. It is estimated that the global literacy rate for people aged 15 and above is about 86 percent. How to read a literacy rateIn order to identify potential for intellectual and educational progress, the literacy rate of a country covers the level of education and skills acquired by a country’s inhabitants. Literacy is an important indicator of a country’s economic progress and the standard of living – it shows how many people have access to education. However, the standards to measure literacy cannot be universally applied. Measures to identify and define illiterate and literate inhabitants vary from country to country: In some, illiteracy is equated with no schooling at all, for example. Writings on the wallGlobally speaking, more men are able to read and write than women, and this disparity is also reflected in the literacy rate in India – with scarcity of schools and education in rural areas being one factor, and poverty another. Especially in rural areas, women and girls are often not given proper access to formal education, and even if they are, many drop out. Today, India is already being surpassed in this area by other emerging economies, like Brazil, China, and even by most other countries in the Asia-Pacific region. To catch up, India now has to offer more educational programs to its rural population, not only on how to read and write, but also on traditional gender roles and rights.