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 (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.

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.

Key information about India Nominal GDP

• India Nominal GDP reached 873.7 USD bn in Mar 2023, compared with 846.0 USD bn in the previous quarter.
• Nominal GDP in India is updated quarterly, available from Jun 1996 to Mar 2023, with an average number of 357.4 USD bn.
• The data reached an all-time high of 873.7 USD bn in Mar 2023 and a record low of 84.1 USD bn in Sep 1996.

CEIC converts quarterly Nominal GDP into USD. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Federal Reserve Board average market exchange rate is used for currency conversions. Nominal GDP prior to Q2 2011 is based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices and prior to Q2 2004 is based on SNA 1993, at 1999-2000 prices.


Related information about India Nominal GDP

• In the latest reports, India GDP expanded 6.1 % YoY in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 4.1 % in Mar 2023.
• India GDP Per Capita reached 2,452.2 USD in Mar 2023.
• Its Gross Savings Rate was measured at 30.2 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 33.2 % in Mar 2023.
• Public Consumption accounted for 12.1 % in Mar 2023.
• Private Consumption accounted for 58.4 % in Mar 2023.

FocusEconomics' economic data is provided by official state statistical reporting agencies as well as our global network of leading banks, think tanks and consultancies. Our datasets provide not only historical data, but also Consensus Forecasts and individual forecasts from the aformentioned global network of economic analysts. This includes the latest forecasts as well as historical forecasts going back to 2010. Our global network consists of over 1000 world-renowned economic analysts from which we calculate our Consensus Forecasts. In this specific dataset you will find economic data for India.

The statistic shows the gross domestic product (GDP) per capita in India from 1987 to 2030. In 2020, the estimated gross domestic product per capita in India amounted to about 1,915.55 U.S. dollars. See figures on India's economic growth here. For comparison, per capita GDP in China had reached about 6,995.25 U.S. dollars in 2013. India's economic progress India’s progress as a country over the past decade can be attributed to a global dependency on cheaper production of goods and services from developed countries around the world. India’s economy is built upon its agriculture, manufacturing and services sector, which, along with its drastic rise in population and demand for employment, led to a significant increase of the nation’s GDP per capita. Despite experiencing rather momentous economic gains since the mid 2000s, the Indian economy stagnated around 2012, with a decrease in general growth as well as the value of its currency. Residents and consumers in India have recently shown pessimism regarding the future of the Indian economy as well as their own financial situation, and with the recent economic standstill, consumer confidence in the country could potentially lower in the near future. Typical Indian exports consist of agricultural products, jewelry, chemicals and ores. Imports consist primarily of crude oil, gold and precious stones, used primarily in the manufacturing of jewelry. As a result, India has seen a rather highly increased demand of several gems in order to boost their jewelry industry and in general their exports. Although India does not export an extensive amount of goods, especially when considering the stature of the country, India has remained as one of the world’s largest exporters.

The statistic shows the growth of the real gross domestic product (GDP) in India from the second quarter 2021 to second quarter 2023. 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 the second quarter of 2023, the real GDP in India grew by 7.8 percent, compared to the same quarter of the previous year.

Description:

This comprehensive dataset provides a historical overview of India's key statistical indicators across multiple domains. The data has been sourced from https://www.macrotrends.net, which aggregates information from reputable sources like the United Nations (UN), World Bank, and other authoritative organizations.

Contents:

1. Population: Demographic data including population size, growth rates, and age distribution.
2. Economy: Economic indicators such as GDP, GDP per capita, inflation rates, and employment figures.
3. Trade: Information on imports, exports, trade balances, and international trade partnerships.
4. Health: Health-related statistics encompassing life expectancy, disease prevalence, and healthcare infrastructure.
5. Education: Educational metrics including literacy rates, school enrollment, and education expenditure.
6. Development: Human development indices, poverty rates, and access to basic amenities.
7. Labor Force: Labor market statistics comprising employment rates, workforce composition, and wage trends.
8. Environment: Environmental data covering factors like carbon emissions, pollution, and natural resource usage.
9. Crime: Crime rates and trends, including various types of criminal activities.
10. Immigration: Information on immigration patterns, citizenship, and foreign-born populations.
11. Other: Miscellaneous data on various aspects of India's socio-economic landscape.

Disclaimer and Terms of Use:

The historical data provided in this dataset is intended solely for informational purposes and is not meant for trading purposes or as financial advice. Neither Macrotrends LLC nor any of our information providers will be liable for any damages relating to your use of the data provided. Users are encouraged to verify the data's accuracy and refer to the original sources for any critical decisions or analyses.

A research from Deloitte shows three estimations based on different scenarios, ranging from optimism to extreme pessimism, of India’s real GDP growth rate. In scenario one, with mass vaccination, the local spread of the virus may see significant reduction and there will be no further outbreaks. Meanwhile, as the stimulus and reforms come into effect, the economy can be expected to reach pre-Covid-19 pandemic levels around end of 2021. However, in scenario two, as the pandemic continues to affect Indian society, and the governmental spending and reforms are limited by the impact, the economy is expected to reach pre-crisis levels in mid-2022. In scenario three, the most pessimistic estimation, Indian economy will only recover at the end of financial year 2023.

Annual percentage growth rate of GDP at market prices based on constant 2010 US Dollars. in India was reported at 6.7 % in 2026, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Annual percentage growth rate of GDP at market prices based on constant 2010 US Dollars. - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

India GNP for 2023 was 3.649 trillion US dollars, a 7.5% increase from 2022.

<ul style='margin-top:20px;'>

<li>India GNP for 2022 was <strong>3.395 trillion US dollars</strong>, a <strong>10.77% increase</strong> from 2021.</li>
<li>India GNP for 2021 was <strong>3.064 trillion US dollars</strong>, a <strong>15.13% increase</strong> from 2020.</li>
<li>India GNP for 2020 was <strong>2.662 trillion US dollars</strong>, a <strong>7.53% decline</strong> from 2019.</li>
</ul>GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

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.

Graph and download economic data for National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for India (INDGDPRQPSMEI) from Q2 2012 to Q1 2025 about India, real, GDP, and rate.

Key information about India Public Consumption: % of GDP

• India Public Consumption accounted for 8.7 % of its Nominal GDP in Dec 2024, compared with a share of 10.0 % in the previous quarter.
• India Public Consumption share of Nominal GDP ratio is updated quarterly, available from Jun 1996 to Dec 2024, with an average number of 10.8 %.
• The data reached an all-time high of 17.7 % in Mar 1998 and a record low of 8.0 % in Mar 2016.

CEIC calculates Government Consumption as % of Nominal GDP from quarterly Government Consumption Expenditure and quarterly Nominal GDP. Ministry of Statistics and Programme Implementation provides Government Consumption Expenditure in local currency and Nominal GDP in local currency, based on SNA 2008 at 2011-2012 prices. Government Consumption as % of Nominal GDP prior to Q2 2011 is based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices and prior to Q2 2004 is based on SNA 1993, at 1990-2000 prices.


Related information about India Public Consumption: % of GDP

• In the latest reports, India GDP expanded 6.1 % YoY in Mar 2023.
• India Nominal GDP reached 873.7 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 4.1 % in Mar 2023.
• India GDP Per Capita reached 2,452.2 USD in Mar 2023.
• Its Gross Savings Rate was measured at 30.7 % in Mar 2024.
• For Nominal GDP contributions, Investment accounted for 30.5 % in Dec 2024.
• Private Consumption accounted for 64.8 % in Dec 2024.

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.

Data and expert analysis on India’s GDP and GSDP including per capita values, sector and industry contribution, GVA, and comparison with global peers.

India PFS: Real GDP: Growth Rate: Current Fiscal Year: Maximum data was reported at 7.300 % in Mar 2019. This records a decrease from the previous number of 7.600 % for Dec 2018. India PFS: Real GDP: Growth Rate: Current Fiscal Year: Maximum data is updated quarterly, averaging 7.450 % from Jun 2017 (Median) to Mar 2019, with 8 observations. The data reached an all-time high of 8.000 % in Jun 2017 and a record low of 6.800 % in Dec 2017. India PFS: Real GDP: Growth Rate: Current Fiscal Year: Maximum data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under Global Database’s India – Table IN.SE002: Professional Forecasters Survey (PFS): Reserve Bank of India: Annual Forecasts: Real GDP Growth Rate.

The dataset contains All India Yearly Macroeconomic Aggregates at Constant Price from Handbook of Statistics on Indian Economy.

Note: 1. Data for 2020-21 are Third Revised Estimates for 2021-22 are Second Revised Estimates and for 2022-23 are First Revised Estimates. 2. Data for 2023-24 are Provisional Estimates.

Although the share of industry in GDP remained stable, it underwent significant fundamental changes. During this period, as a process of product restructuring, when a gross value was adjusted, production increased at current prices by 8 percent per annum. Then in 2004-09, the GDP growth rate increased to 20%. At the same prices, the annual but significant increase in employment was also 7.5 percent per annum. The work participation rate was 39.2 percent in 2009-10. Of these, 53 percent were in agriculture and the remaining 47 percent were in non-agricultural sectors. For the first time in the late 2000s, the number of perfect workers in the agricultural sector decreased. Unemployment in the economy as a whole has come down from 8.3 percent in 2004-05 to 6.6 percent in 2009-10. We can say that the Indian economy has performed well since 1991 but now the Indian economy is going through another turbulent period. The growth rate of the Indian economy has been slowing down since 2014. In addition to this, Kovid 19 has spread its legs in India and has slowed down the growth rate. The research paper will conclude the study of the Indian economy from 2014 to 2020, as well as three economic sectors.

The benchmark interest rate in India was last recorded at 5.50 percent. This dataset provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.