In the financial year 2023, the eSports market size in India was expanded to around 53 million U.S. dollars. Moreover, projections for the next four years indicated a flourishing future for eSports in the South Asian country, with the market expected to grow at a compound annual growth rate of a whopping 60 percent.

Hotels made up the highest share in the travel market in India in financial year 2020, followed by airlines. While the market was expected to grow significantly by financial year 2027, airlines were estimated to account for a higher share by the same year. This could be attributed to improving infrastructure, and the increase of alternative forms of accommodation than hotels

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.

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The size of the eSports market in India boomed at a compound annual growth rate of 74 percent between the fiscal years 2021 and 2023. Forecasts suggest that the market is expected to maintain this growth trajectory over the coming years, expanding to a market size of 344 million U.S. dollars in 2027. The official recognition of eSports and the encouragement of sponsorships and partnerships in India have been crucial to this growth.

Forecast: Pineapples Demand in India 2023 - 2027 Discover more data with ReportLinker!

The revenue is forecast to experience significant growth in all segments in 2027. Particularly striking is the exceptionally strong increase of the segment Online Games towards the end of the forecast period. The value amounting to 197.4 million U.S. dollars stands out significantly from the average changes, which are estimated at 58.8429 million U.S. dollars. The Statista Market Insights cover a broad range of additional markets.

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The statistic shows the gross domestic product (GDP) per capita in India from 1987 to 2029. 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.

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Forecast: Construction Value Added in India 2023 - 2027 Discover more data with ReportLinker!

Over the last two observations, the revenue is forecast to significantly increase in all segments. This reflects the overall trend throughout the entire forecast period from 2017 to 2027. It is estimated that the revenue is continuously rising in all segments. In this regard, the Video-on-Demand segment achieves the highest value of 6.2 billion U.S. dollars in 2027. Find further statistics on other topics such as a comparison of the average revenue per user in the world and a comparison of the revenue in Canada. The Statista Market Insights cover a broad range of additional markets.

The statistic shows the growth of the real gross domestic product (GDP) in India from 2019 to 2024, with projections up until 2029. 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 7.02 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.

Forecast: Gross Domestic Expenditure on R&D CAGR in India 2023 - 2027 Discover more data with ReportLinker!

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