The impact of the coronavirus (COVID-19) lockdown in India slashed GDP growth forecasts for financial year 2021. Among the agencies that estimated growth, World Bank predicted a contraction of nearly *** percent, while the SBI (before the Maharashtra lockdown in April 2021) estimated a decline of ***** percent.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

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.

Full Year GDP Growth in India decreased to 6.50 percent in 2025 from 9.20 percent in 2024. This dataset includes a chart with historical data for India Full Year GDP Growth.

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.

Key information about India Real GDP Growth

• The Gross Domestic Product (GDP) in India expanded 4.4 % YoY in Dec 2022, following a growth of 6.3 % in the previous quarter.
• Real GDP Growth YoY data in India is updated quarterly, available from Jun 2005 to Dec 2022, with an average rate of 7.2 %.
• The data reached an all-time high of 21.6 % in Jun 2021 and a record low of -23.4 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. Ministry of Statistics and Programme Implementation provides Real GDP in local currency based on SNA 2008, at 2011-2012 prices. Real GDP prior to Q2 2012 is based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices.


Related information about India Real GDP Growth

• In the latest reports, Nominal GDP of India reached 844.6 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.6 % in Dec 2022.
• GDP Per Capita in India reached 2,301.4 USD in Mar 2022.
• Its Gross Savings Rate was measured at 30.2 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 28.4 % in Dec 2022.
• Public Consumption accounted for 9.0 % in Dec 2022.
• Private Consumption accounted for 63.3 % in Dec 2022.

Out of the world's seven largest economies, the United Kingdom was the most negatively affected by the coronavirus (COVID-19) pandemic. During the third quarter of 2020, the GDP growth rate of the UK stood at minus *** percent compared to the previous year. Furthermore, the GDPs of India and Japan were contracted by minus *** percent. Only China experienced a positive GDP growth rate of *** percent during that same period. However, in 2021, all the largest economies worldwide started to recover, with growth rates varying from *** percent (Japan) to over **** percent (India).

India GDP: PPP: 2021 Price data was reported at 13,172,809.038 Intl $ mn in 2023. This records an increase from the previous number of 12,179,797.874 Intl $ mn for 2022. India GDP: PPP: 2021 Price data is updated yearly, averaging 5,029,264.465 Intl $ mn from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 13,172,809.038 Intl $ mn in 2023 and a record low of 1,905,660.987 Intl $ mn in 1990. India GDP: PPP: 2021 Price data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP is the sum of gross value added by all resident producers in the country plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2021 international dollars.;International Comparison Program, World Bank | World Development Indicators database, World Bank | Eurostat-OECD PPP Programme.;Gap-filled total;

The Gross Domestic Product (GDP) in India expanded 7.40 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - India GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, almost half of India’s GDP was generated by the services sector, a slight and steady increase over the last 10 years. Among the leading services industries in the country are telecommunications, IT, and software. The IT factorThe IT industry is a vital part of India’s economy, and in the fiscal year of 2016/2017, it generated about 8 percent of India’s GDP alone – a slight decrease from previous years, when it made up about 10 percent of the country’s economy. Nevertheless, the IT industry is growing, as is evident by its quickly increasing revenue and employment figures. IT includes software development, consulting, software management, and online services, and business process management (BPM). Employee migrationAlthough employment figures in IT, and thus in the services sector, are on the rise, most of the Indian workforce is still employed in agriculture, however, the figures show a trend pointing towards a reversal of this distribution. For now, the majority of Indians still do not live in cities – where IT jobs are generated – but urbanization is on the rise as well.

India IN: GDP: Deflator: Single Hit Scenario data was reported at 1.511 Index, 2011-12 in 2021. This records an increase from the previous number of 1.451 Index, 2011-12 for 2020. India IN: GDP: Deflator: Single Hit Scenario data is updated yearly, averaging 0.777 Index, 2011-12 from Dec 1995 (Median) to 2021, with 27 observations. The data reached an all-time high of 1.511 Index, 2011-12 in 2021 and a record low of 0.370 Index, 2011-12 in 1995. India IN: GDP: Deflator: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s India – Table IN.OECD.EO: GDP: Deflator: Forecast: Non OECD Member: Annual. PGDP - Gross domestic product, market prices, deflatorIndex, national reference year

India GDP per Capita: PPP: 2021 Price data was reported at 9,160.064 Intl $ in 2023. This records an increase from the previous number of 8,544.689 Intl $ for 2022. India GDP per Capita: PPP: 2021 Price data is updated yearly, averaging 4,254.737 Intl $ from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 9,160.064 Intl $ in 2023 and a record low of 2,178.686 Intl $ in 1991. India GDP per Capita: PPP: 2021 Price data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser's prices is the sum of gross value added by all resident producers in the country plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2021 international dollars.;International Comparison Program, World Bank | World Development Indicators database, World Bank | Eurostat-OECD PPP Programme.;Weighted average;

India: Financial development: The latest value from 2021 is 0.534 index points, a decline from 0.539 index points in 2020. In comparison, the world average is 0.331 index points, based on data from 178 countries. Historically, the average for India from 1980 to 2021 is 0.372 index points. The minimum value, 0.121 index points, was reached in 1980 while the maximum of 0.539 index points was recorded in 2020.

Key information about India Labour Productivity Growth

• India Labour Productivity dropped by 2.80 % YoY in Dec 2022, compared with a growth of 3.99 % in the previous year
• India Labour Productivity Growth data is updated yearly, available from Dec 1992 to Dec 2022, averaging at 4.31 %
• The data reached an all-time high of 9.15 % in Dec 2016 and a record low of 0.74 % in Dec 2000

CEIC shifts year-end for annual Labour Force Participation Rate. CEIC calculates annual Labour Productivity Growth from annual Real GDP and annual Employment. The Ministry of Statistics and Programme Implementation provides Real GDP in local currency based on NAS 2011-12, at 2011-12 prices. Organisation for Economic Co-operation and Development provides Employment data. Labour Productivity Growth prior to 2013 is based on World Bank's GDP per person employed, 2021 PPP

The statistic shows the growth of the real gross domestic product (GDP) in India from 2020 to 2024, with projections up until 2030. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2024, India's real gross domestic product growth was at about 6.46 percent compared to the previous year. Gross domestic product (GDP) growth rate in India Recent years have witnessed a shift of economic power and attention to the strengthening economies of the BRIC countries: Brazil, Russia, India, and China. The growth rate of gross domestic product in the BRIC countries is overwhelmingly larger than in traditionally strong economies, such as the United States and Germany. While the United States can claim the title of the largest economy in the world by almost any measure, China nabs the second-largest share of global GDP, with India racing Japan for third-largest position. Despite the world-wide recession in 2008 and 2009, India still managed to record impressive GDP growth rates, especially when most of the world recorded negative growth in at least one of those years. Part of the reason for India’s success is the economic liberalization that started in 1991and encouraged trade subsequently ending some public monopolies. GDP growth has slowed in recent years, due in part to skyrocketing inflation. India’s workforce is expanding in the industry and services sectors, growing partially because of international outsourcing — a profitable venture for the Indian economy. The agriculture sector in India is still a global power, producing more wheat or tea than anyone in the world except for China. However, with the mechanization of a lot of processes and the rapidly growing population, India’s unemployment rate remains relatively high.

India IN: GDP: Growth: Volume: Final Consumption Expenditure: Government: Single Hit Scenario data was reported at -2.330 % in 2021. This records a decrease from the previous number of 10.448 % for 2020. India IN: GDP: Growth: Volume: Final Consumption Expenditure: Government: Single Hit Scenario data is updated yearly, averaging 7.586 % from Dec 1997 (Median) to 2021, with 25 observations. The data reached an all-time high of 14.190 % in 2009 and a record low of -2.330 % in 2021. India IN: GDP: Growth: Volume: Final Consumption Expenditure: Government: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s India – Table IN.OECD.EO: GDP: Growth and Contribution to Growth: Forecast: Non OECD Member: Annual. CGV_ANNPCT - Government final consumption expenditure, volume, growth. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.; Data before Fiscal Year 2004 are OECD estimates based on previous vintages.

Dung from Sikkim accounted for over 68 million Indian rupees in the Indian economy in fiscal year 2021. This value was higher than the previous year's contribution of dung from the state. Rajasthan was the largest contributor to the agricultural gross value added from dung among other states in the south Asian country, followed by Uttar Pradesh.

The Gross Domestic Product (GDP) in India expanded 2 percent in the first quarter of 2025 over the previous quarter. This dataset provides - India GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

India Wholesale Price Index data was reported at 186.936 Index, 2021 in 2026. This records an increase from the previous number of 181.007 Index, 2021 for 2025. India Wholesale Price Index data is updated yearly, averaging 102.294 Index, 2021 from Dec 1994 (Median) to 2026, with 33 observations. The data reached an all-time high of 186.936 Index, 2021 in 2026 and a record low of 42.929 Index, 2021 in 1994. India Wholesale Price Index data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s India – Table IN.OECD.EO: Consumer and Wholesale Price Index: Forecast: Non OECD Member: Annual.

Bihar Budget 2021-22: Bihar Economic Survey 2020-21 (Hindi) - Datasets - Open Budgets India

India: GDP per unit of energy used: The latest value from 2022 is 12.93 GDP per kg of oil equivalent, an increase from 11.92 GDP per kg of oil equivalent in 2021. In comparison, the world average is 15.09 GDP per kg of oil equivalent, based on data from 141 countries. Historically, the average for India from 1990 to 2022 is 7.13 GDP per kg of oil equivalent. The minimum value, 3.74 GDP per kg of oil equivalent, was reached in 1990 while the maximum of 12.93 GDP per kg of oil equivalent was recorded in 2022.