The statistic shows GDP in India from 1987 to 2023, with projections up until 2029. In 2023, GDP in India was at around 3.57 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 (GDP) in India was worth 3567.55 billion US dollars in 2023, according to official data from the World Bank. The GDP value of India represents 3.38 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 United States had the largest economy in the world, with a gross domestic product of just under 29 trillion U.S. dollars. China had the second largest economy, at around 18.5 trillion U.S. dollars. Recent adjustments in the list have seen Germany's economy overtake Japan's to become the third-largest in the world in 2023, while Brazil's economy moved ahead of Italy's in 2024. Global gross domestic product Global gross domestic product amounts to almost 110 trillion U.S. dollars, with the United States making up more than one-quarter of this figure alone. The 12 largest economies in the world include all Group of Seven (G7) economies, as well as the four largest BRICS economies. The U.S. has consistently had the world's largest economy since the interwar period, and while previous reports estimated it would be overtaken by China in the 2020s, more recent projections estimate the U.S. economy will remain the largest by a considerable margin going into the 2030s.The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.

This statistic shows the projected top ten largest national economies in 2050. By 2050, China is forecasted to have a gross domestic product of over 58 trillion U.S. dollars.

Key information about India Gross National Product (GNP)

• India Gross National Product (GNP) was reported at 3,515.910 USD bn in Dec 2023.
• This records an increase from the previous number of 3,308.769 USD bn for Dec 2022.
• India Gross National Product (GNP) data is updated yearly, averaging 277.336 USD bn from Dec 1957 to 2023, with 67 observations.
• The data reached an all-time high of 3,515.910 USD bn in 2023 and a record low of 28.750 USD bn in 1957.

Related information about India Gross National Product (GNP) data

• India Gross National Product (GNP) data remains active status in CEIC and is reported by CEIC Data.
• CEIC shifts year-end for annual Gross National Product and converts it into USD. Ministry of Statistics and Programme Implementation provides Gross National Product in local currency based on SNA 2008, at 2011-2012 prices. Federal Reserve Board average market exchange rate is used for currency conversions. Gross National Product is reported in annual frequency, ending in March of each year.

Key information about India Market Capitalization: % of GDP

• India Market Capitalization accounted for 133.5 % of its Nominal GDP in Dec 2024, compared with a percentage of 120.9 % in the previous year
• India Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1993 to Dec 2024
• The data reached an all-time high of 146.4 % in Dec 2007 and a record low of 23.0 % in Dec 2001

CEIC calculates annual Market Capitalization as % of Nominal GDP from monthly Market Capitalization and annual Nominal GDP. BSE Limited provides Market Capitalization in local currency. The Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency. Nominal GDP is reported in annual frequency, ending in March of each year.


Further information about India Market Capitalization: % of GDP

• In the latest reports, SENSEX recorded a daily P/E ratio of 20.6 in Mar 2025
• Sensitive 30 (Sensex) closed at 73,198.1 points in Feb 2025

In 2023, the national debt of India amounted to around 2.83 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year. Honor thy national debtNational debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks. India’s debt is rising, but so is its economic growthIndia’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

By the year 2030, it is projected that China will eclipse the United States and have the largest gross domestic product (GDP) in the world, at 31.7 trillion U.S. dollars. The United States is projected to have the second largest GDP, at 22.9 trillion U.S. dollars.

What is gross domestic product?

Gross domestic product, or GDP, is an economic measure of a country’s production in time. It includes all goods and services produced by a country and is used by economists to determine the health of a country’s economy. However, since GDP just shows the size of an economy and is not adjusted for the country’s size, this can make direct country comparisons complicated.

The growth of the global economy

Currently, the United States has the largest GDP in the world, at 20.5 trillion U.S. dollars. China has the second largest GDP, at 13.4 trillion U.S. dollars. In the coming years, production will become faster and more global, which will help to grow the global economy.

GDP Constant Prices in India increased to 4716992.50 INR Billion in the fourth quarter of 2024 from 4492230.08 INR Billion in the third quarter of 2024. This dataset provides - India GDP Constant Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the gross domestic product (GDP) of China amounted to around 17.8 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 three percent in 2022 and 5.2 percent in 2023. In 2023, per capita GDP in China reached around 12,600 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 2023. 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 31 percent in 2023. 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 2023. 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.

In 2024, the travel and tourism sector in India contributed around 9.1 percent to the total GDP of the country. This amounted to over 11.10 trillion U.S. dollars, and an increase of nearly 12.1 percent compared to the previous year.

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.

This statistic shows the value of imported commodities to India in 2022. In 2022, agricultural products worth 46.45 billion U.S. dollars were imported to India.

As of 2024, Mumbai had a gross domestic product of 368 billion U.S. dollars, the highest among other major cities in India. It was followed by Delhi with a GDP of around 167 billion U.S. dollars. India’s megacities also boast the highest GDP among other cities in the country. What drives the GDP of India’s megacities? Mumbai is the financial capital of the country, and its GDP growth is primarily fueled by the financial services sector, port-based trade, and the Hindi film industry or Bollywood. Delhi in addition to being the political hub hosts a significant services sector. The satellite cities of Noida and Gurugram amplify the city's economic status. The southern cities of Bengaluru and Chennai have emerged as IT and manufacturing hubs respectively. Hyderabad is a significant player in the pharma and IT industries. Lastly, the western city of Ahmedabad, in addition to its strategic location and ports, is powered by the textile, chemicals, and machinery sectors. Does GDP equal to quality of life? Cities propelling economic growth and generating a major share of GDP is a global phenomenon, as in the case of Tokyo, Shanghai, New York, and others. However, the GDP, which measures the market value of all final goods and services produced in a region, does not always translate to a rise in quality of life. Five of India’s megacities featured in the Global Livability Index, with low ranks among global peers. The Index was based on indicators such as healthcare, political stability, environment and culture, infrastructure, and others.

In 2023, China's gross domestic product amounted to approximately 17.7 trillion U.S. dollars, which was the highest GDP across the Asia-Pacific region. Japan followed with a GDP of around 4.2 trillion dollars.  China, Asia-Pacific's titan The significance of the Asia-Pacific region to the world is multifaceted, ranging from geopolitical importance to being home to more than half of the world's population. Characterized by emerging countries and dynamic economic activities, the region plays a key role in the global economy. China, the most populous country after India, and the second largest economy on the planet, accounted for about half of the total gross domestic product (GDP) in APAC as of 2023. The GDP growth in China was characterized by high rates for decades. Following the COVID-19 pandemic, the country has struggled to catch up with the previous level of growth rates and was forecast to stay at more modest real GDP growth rates in the coming years.  A new paradigm of development in the Asia-Pacific region Even though the Asia-Pacific region has made significant economic improvements in the last decades, from a developmental perspective, tackling existing socio-economic issues will be critical for future growth. An aspect worth mentioning is the GDP per capita in the region. EU countries, for example, had about three times as much GDP per capita compared to East Asia and the Pacific region in 2022. China has been working towards changing its economic focus to high-tech and service sectors while reducing its concentration on agriculture.

Reliance was the leading Indian company based on market capitalization, with over 17 trillion Indian rupees as of March 2025. Reliance Industries is a multinational conglomerate company, and it is headquartered in Mumbai. HDFC Bank had the second-highest market capitalization, followed by Tata Consultancy Services during the same period.

In financial year 2024, the gross state domestic product of Uttar Pradesh in India amounted to about 25 trillion Indian rupees. This was an increase from seven trillion rupees in fiscal year 2012 across the state.

In 2023, the gross domestic product of Japan was estimated to be around 4.22 trillion U.S. dollars. This makes Japan third in the world GDP ranking. However, Japan's GDP is much closer to those countries below it in this ranking, as the two largest economies in the world, the U.S. and China, are both several times larger than that of Japan. After decades of rapid growth in the post-WWII era, Japan's economic growth has stagnated in recent decades, with figures fluctuating between four and 6.3 trillion U.S. dollars since the 1990s.

In financial year 2024, the gross state domestic product of Maharashtra in India amounted to over 40 trillion Indian rupees, up from the previous year. The western state saw a constant increase in the gross domestic product over the years except between financial year 2020 and 2021.

The statistic shows gross domestic product (GDP) in Brazil from 1987 to 2023, with projections up until 2029. Gross domestic product denotes the aggregate value of all services and goods produced within a country in any given year. GDP is an important indicator of a country's economic power. In 2022, Brazil's gross domestic product amounted to around 1.95 trillion U.S. dollars. In comparison to the GDP of the other BRIC countries India, Russia and China, Brazil was ranked third that year.

Brazil's national finances

Brazil is one of the fastest growing economies in the world and the largest amongst all Latin American countries. Brazil is also a member of multiple economic organizations such as the G20 as well as one of the four countries in the BRIC economies, which consist of Brazil, Russia, India and China. Despite having one of the lower populations out of the four countries, Brazil maintained a relatively stable dollar value of all goods and services produced within the country in comparison to India, for example. This indicates that unemployment is low and in general business demand within the country has become relatively high.

Spending within the country has been relatively high, however is considered to be normal, especially for developing countries. It is expected that developing economies have a budget deficit of roughly 3 percent, primarily because spending is needed in order to fuel an economy at most times. However, most Brazilians still have faith in their country’s economic future and still believe that their own personal financial situation will improve along with the country’s economic position in the world.