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 a survey conducted on the impact of COVID-19 in India in March 2022, a majority of participants reported a net increase in spending across categories like groceries with a share of 45 percent expecting to buy lesser quantity. However, a drop in spending was observed for categories related to leisure, travel, and dining in restaurants.

Spending models The COVID-19 pandemic has had a grave impact on the Indian economy which come with its own array of setbacks indicating a drastic change in the pattern of market dynamics. It was observed that during the pandemic, people’s spending models changed from one of indulging to hoarding. People spent less of their income on items that were perceived as non-essential such as clothing, make up, jewelry, toys and games and electronics. By inference, more money was spent on purchase of essential goods, particularly groceries and other food items. The second wave and the economy The nation’s battle with the coronavirus continues bringing in the second wave. This has prompted a reimposition of strict measures including partial lockdowns and curfews in certain states to keep the contagion under control. Experts have postulated a more virulent mutation of the virus could make the second wave even deadlier. While the economy has not yet fully recovered from the first wave of the pandemic following the lockdown imposed in March 2020, India’s recovery signals a slowdown. In the case of further lockdowns, it could lead to an economic recession. Some of the worst hit sectors during the pandemic have been tourism along with automotive and power.

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.

In financial year 2023, India saw a slowdown in the annual growth rate of gross national income at constant prices which is estimated to be 6.6 percent. Overall, it was observed that the country's gross domestic product as well as gross national income growth rate has been reducing.

India was greatly affected by the coronavirus (COVID-19) pandemic in various sectors. Intending to get hold of the situation, India announced its first nation-wide lockdown in March 2020, which led to the economic slowdown. Consequently, international trade took a huge hit as well. In April 2021, imported commodities, specifically silver, pulses and newsprint, faced more than 27 percent decline compared to previous year. By contrast, in April 2022,close to all commodities saw a significant recoveries compared to the previous year. India’s economic loss due to COVID-19

The coronavirus (COVID-19) pandemic laid additional stress on the country's already struggling economy. With a GDP growth of just three percent in the fourth quarter of the financial year 2020, a drop of more than 20 percent in the next quarter came as a huge blow. The markets reacted differently to the crisis, which was reflected in their growth rate. The automotive market was hit the hardest by the lockdown, as it showed the maximum negative growth. While most industries were shaken to their core, financial, real estate, and professional services were estimated to incur huge losses.

Sudden rise in unemployment

Owing to the lockdown, many Indians found themselves with no work. In May 2020, the unemployment levels reached a new high with more than 27 percent of the country's labor force unemployed. However, the effects within the different parts of society varied. In April 2020, small traders and laborers suffered the most due to the coronavirus, as nearly a hundred million lost their jobs. Contrary to this, the farmers saw an increase in employment.

Ericsson AB's Q4 earnings fall short due to unmet sales rebound in India, despite positive investor sentiment and a significant share rally.

The change rate in domestic automobile production across India was about negative 14.1 percent in fiscal year 2021. Passenger vehicle production in India saw a decline since in the second half of 2019, with leading manufacturers having to reduce output in order to prevent inventory overloads due to the change of emission standards and general economic slowdown. The coronavirus pandemic worsened the situation.

The India trade finance industry is expected to witness significant growth in the coming years, driven by various factors such as the increasing volume of international trade, government initiatives to promote trade, and the adoption of digital technologies. The market size, valued at $2 million in 2025, is projected to grow at a CAGR of 8.15% during the forecast period of 2025-2033, reaching $3.8 million by 2033. Key drivers of this growth include the government's focus on promoting exports, the increasing adoption of digital technologies, and the rising need for working capital financing. The industry is also witnessing the emergence of new trends such as the increasing use of blockchain technology, the growing popularity of online trade platforms, and the adoption of artificial intelligence and machine learning for risk assessment. However, the industry faces certain challenges such as the global economic slowdown, the impact of COVID-19, and regulatory complexities, which may hinder its growth in the coming years. Recent developments include: July 2022: A new foreign exchange mechanism has been introduced by the Reserve Bank of India (RBI) to stabilize the Indian economy and promote increased international trade. According to a public statement made on July 11th, the system will make it easier for international trade transactions to be made in Indian rupees (INR). Indian importers and exporters can now use their own currency instead of US dollars to pay for transactions. This arrangement needs to be approved by banks first., December 2022: Japan's MUFG Bank announced the execution of a INR 450 crore (USD 54.3 million) sustainable trade finance facility for Tata Power. MUFG has extended this financing for the procurement of two solar power projects of TP Kirnali Limited (TPKL).. Notable trends are: Digitalization is Driving the Market.

The compound annual growth rate of profits after tax earned by India's Nifty-500 listed companies between 2014 to 2018 was about 3.8 percent. This was the lowest growth rate in over a decade for India's corporate sector. The period between 2003 to 2008 saw a growth rate of 31.1 percent in the profits after tax. This is a strong indication of an economic slowdown amongst the country's corporate sector.

The total volume of coal production in India amounted to around 998 million metric tons in the fiscal year 2024. Coal mining in India goes back over 200 years and their reserves remain among of the largest in the world. The role of coal in India's energy supply Coal dominates India's power supply, with a contribution of over 70 percent through thermal power plants. In 2023, the total coal consumption in the country amounted to over amounted to around 21.9 exajoules. In 2024, India's proved reserves of anthracite and bituminous coal amounted to around 220 billion metric tons. COVID-19 impact on India's coal sector India went into a total lockdown on March 25, 2020 making it the largest in the world, restricting 1.3 billion people. This was further extended until May 3, 2020. Coal imports into India saw a decline as a result of the pandemic. Power generation from thermal plants also witnessed a decline of about 40 percent year-on-year between March 25 and 30, 2020. With the consumption expected to grow because of people staying indoors, the drop in imports and reduced generation could create supply problems across the country. Diversification within the coal sector is likely to play a crucial role moving forward. Commercial mining was opened to private investments by the government. A possibility of a 100 percent FDI was also allowed, thereby increasing the competition. The government also aimed to improve consumption from manufacturing and mining industries that created a weak demand earlier in the year due to the economic slowdown before the coronavirus.

The primary energy demand in India amounted to 880 million metric tons of oil equivalent in 2020. The decrease in energy demand that year was primarily due to the economic slowdown caused by the coronavirus pandemic. Overall, primary energy demand in India has doubled since the turn of the century.

Maruti Suzuki had the leading share in the passenger car market across India in the year 2024 with more than ** percent. The top four players held approximately ** percent of the market share. This was predominantly due to brand loyalty and new launches. Kia Motors India Beating these odds was Kia Motors which entered the Indian market in the second half of 2019. With special utility vehicles (SUV), the company saw a considerable increase in sales. Within a short span, the company outperformed its well-established foreign competitors, including German-based Volkswagen, Toyota, and Honda. Slowdown of the passenger vehicle segment Despite the company’s success, the industry overall witnessed a double-digit decline in the sales volume of passenger cars between 2020 and 2022. This was presumably due to new emission standards, a general slowdown in the economy, and the coronavirus (COVID-19) outbreak. Since 2023, the sales volume started to slowly climbing back to pre-pandemic level.

In fiscal year 2025, around ********passenger cars were exported from India. It took around seven years for the Indian passenger vehicle market to make the jump in production volume from ******million to over *****million. In 2025, over *** million passenger vehicles produced were sold domestically. Maruti Suzuki, the country’s biggest car manufacturer, had the leading share in sales volume of passenger cars. Domestic overviewIndia was estimated to be the third-largest passenger vehicle market. Two-wheelers dominated the Indian automotive industry with a share of about ** percent. That year, in comparison to the *****million passenger vehicles produced, the production volume of two-wheelers was around **** million. What’s in store Robust economic development in the country is an important factor to reach the production milestone of **** million vehicles. The industry is recovering slowly from the economic slowdown in 2019, and it was further affected by the coronavirus pandemic, and their major effects on production and sales volume across all sectors.

The Indian Automotive Industry offers a wide range of products, including passenger cars, commercial vehicles, two-wheelers, and three-wheelers. The passenger car market is further segmented into sedans, SUVs, hatchbacks, and luxury cars. The commercial vehicle market includes trucks, buses, and light commercial vehicles. The two-wheeler market consists of motorcycles, mopeds, and scooters. Recent developments include: In July 2024, Tata Elxsi, a prominent multinational corporation specializing in design and technology services, and Emerson, a worldwide leader in automation, collaboratively opened the Tata Elxsi + NI Mobility Innovation Centre (TENMIC) in Bengaluru. This state-of-the-art facility is dedicated to expediting automotive innovation by utilizing modern technology, software solutions, and worldwide knowledge. The launch event was attended by senior technology and R&D professionals from global OEMs, automotive suppliers, and semiconductor businesses. The event was sponsored by top executives from both companies. This emphasizes the importance of TENMIC and the partnership between Tata Elxsi and NI in improving automotive development and fostering innovation., In June 2024, DAEWOO introduced its state-of-the-art automotive batteries designed for use in automobiles, trucks, tractors, and buses. DAEWOO's vehicle batteries utilize cutting-edge technology to ensure maximum performance. The product is built with a strong and sturdy structure to improve its durability and lifespan. It also features increased vibration resistance, making it suited for rough terrains. Additionally, it has a maintenance-free design, ensuring that owning it is hassle-free. DAEWOO offers automobile four-wheeler batteries with a comprehensive warranty, ensuring customer pleasure and demonstrating the company's dedication to quality.. Key drivers for this market are: Government initiatives and policies

Rising consumer spending and disposable income. Potential restraints include: Fluctuating fuel prices and economic slowdown

Increasing competition from foreign players. Notable trends are: The rise of connected and autonomous vehicles

Adoption of advanced technologies, such as AI and IoT.

India's manufacturing sector witnessed a decline of over seven percent in fiscal year 2021. This resulted from the economic slowdown from the impact of the COVID-19 pandemic. Manufacturing accounted for about 14.5 percent of the country's GVA in fiscal year 2021.

Employability among Bachelor of Commerce graduates in India was 55 percent in 2025, a significant decrease from 2023. Within the commerce stream, obtaining a B.Com degree is often the minimum requirement for getting a job. The economic slowdown in India has been a major factor in reduced hiring among companies. What is Bachelor of Commerce? An academic course such as Bachelor of Commerce degree that provides theoretical knowledge is different from courses in banking and finance, chartered accountancy and office management. For instance, in chartered accountancy, there is an ’article-ship' which prepares the graduate with hands-on learning experience under the guidance and mentorship of experienced professionals in a company. Although this section of graduates have numerous job opportunities right after graduation, landing a job is difficult for many even today without the practical skillset. In recent years, the number of women graduates with a bachelor's degree has increased in the country. Women undergraduates of commerce had an employability rate of over 70 percent in 2019. Engineering students in demand   The share of employable talent across the country was above 45 percent for the last two years, an increase since 2014. While the highest scope of employability among undergraduates was among the engineering and the technology graduates, there was still a massive skill gap in terms of experience for industry requirements.

Discover how U.S. tariffs and economic growth slowdowns in China and India are expected to impact oil prices in 2025, with OPEC+ production plans playing a crucial role.

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Motorcycle Clutch Market Size 2025-2029

The motorcycle clutch market size is forecast to increase by USD 554.4 million at a CAGR of 3.3% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the increasing sales of motorcycles worldwide. This trend is fueled by various factors, including the growing preference for two-wheelers due to their fuel efficiency and ease of use in traffic-congested cities. Moreover, the adoption of advanced technologies, such as smart clutches, is gaining momentum in the motorcycle industry. These clutches offer improved performance, durability, and fuel economy, making them an attractive option for both manufacturers and consumers. However, the market growth is not without challenges. The ongoing economic slowdown in major emerging economies, such as India and China, poses a significant threat to market expansion.
These economies are key markets for motorcycle sales, and any economic instability can lead to a decrease in demand. Additionally, stringent regulations regarding emissions and safety standards are putting pressure on manufacturers to innovate and invest in research and development. Companies seeking to capitalize on market opportunities and navigate challenges effectively must stay abreast of these trends and adapt to the evolving market landscape. Downstream buyers include transportation and logistics companies, premium bike manufacturers, and individual consumers. Moreover, raw materials used In the production of motorcycle clutches, such as steel, ceramics, and polymers, can also impact market dynamics.

What will be the Size of the Motorcycle Clutch Market during the forecast period?

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The market encompasses various clutch systems, including wet, dry, semi-automatic, and automatic clutches, catering to diverse motorcycle segments such as high-performance, sports, racing, standard, touring, and low-cost motorcycles. Clutch engagement is a critical factor in motorcycle performance, enabling seamless gear changes and shifts. Organic materials, such as friction plates and springs, are commonly used in clutch systems. Emission standards and fuel efficiency have influenced the market's direction, leading to advancements in clutch technology. High-performance motorcycles and racing motorcycles often employ sophisticated clutch systems, such as torque limiters, engine braking, and rear-wheel lockup, to optimize power transfer and improve handling. These parts are used in various motorcycle segments, including low-cost motorcycles, premium bikes, E-performance bikes and racing prototype bikes.
Wear and tear, rear-wheel lockup, engine seizure, and transmission failure are ongoing challenges in the market, necessitating continuous innovation. Clutch systems are integral to motorcycle operation, facilitating the smooth transfer of power from the engine to the rear wheel. The market's size and growth are influenced by factors such as consumer preferences, technological advancements, and regulatory requirements. Dry clutches, for instance, offer improved fuel efficiency and reduced weight, while wet clutches provide better cooling and durability. Semi-automatic and automatic clutches cater to riders seeking convenience and ease of use. The market's future direction will likely be shaped by advancements in materials science, electronics, and mechatronics, as well as evolving consumer preferences and regulatory requirements.

How is this Motorcycle Clutch Industry segmented?

The motorcycle clutch industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Manual
  Semi-automatic


Application

  Ordinary motorcycle
  Luxury motorcycle


Product Type

  Wet clutch
  Dry clutch
  Slipper clutch


End-user

  OEMs
  Aftermarket


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  South America



  Middle East and Africa

By Type Insights

The manual segment is estimated to witness significant growth during the forecast period. The market encompasses various clutch systems, including wet clutches, dry clutches, semi-automatic clutches, and automatic clutches. Manual transmission clutches, a segment of this market, are utilized in motorcycles with traditional manual transmissions. Riders manually engage and disengage these clutches using the clutch lever, providing precise control over gear shifts. This clutch type is prevalent in older motorcycles and smaller displacement bikes. Key players in the market, such as Race Winning Brands Inc., offer advanced manual transmission clutches. These clutches cater to the preferences of riders who valu

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Electronic Chemicals And Materials Market Size 2025-2029

The electronic chemicals and materials market size is forecast to increase by USD 21.24 billion at a CAGR of 5.8% between 2024 and 2029.

The market is driven by the continuous development of upgraded applications in the electronics industry. This trend is fueled by the increasing number of fabrication facilities (fabs) worldwide, which necessitates a steady supply of advanced chemicals and materials. These materials and chemicals include 3D printing, ICS, consumer semiconductors, and silicon wafers. However, the market faces a significant challenge with the slowdown in the growth of the semiconductor industry. This industry downturn may lead to decreased demand for electronic chemicals and materials, necessitating strategic adaptations from market players.
Additionally, focusing on research and development to create innovative, high-performance, and cost-effective solutions will enable market participants to maintain their competitive edge. The market encompasses a diverse range of semiconductor technologies and manufacturing processes. Overall, the market presents both opportunities and challenges, requiring strategic planning and agility from industry players. Companies must explore opportunities in emerging technologies, such as flexible electronics and energy storage, to mitigate the impact of the semiconductor industry slowdown.

What will be the Size of the Electronic Chemicals And Materials Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market encompasses a diverse range of products, including high-purity chemicals, conductive polymers, and nano-scale materials, among others. One trend driving market growth is the increasing focus on sustainability, with green chemistry and life cycle assessment gaining prominence. Surface analysis and defect detection techniques are essential for ensuring energy efficiency and reliability in various applications, from military electronics to consumer electronics. Moreover, the circular economy is transforming the industry, with renewed emphasis on energy storage, recycling, and electronic waste management. Quantum dots and specialty polymers are key materials in this context, enabling advancements in areas like power electronics, process automation, and flexible electronics.

Digital twin technology is revolutionizing design and manufacturing processes, allowing for real-time material characterization and failure analysis. Energy storage solutions, such as batteries and supercapacitors, are undergoing significant innovation, driven by demands for higher energy density and longer lifetimes. In the realm of advanced packaging, 3D printing and flexible electronics are pushing the boundaries of miniaturization and customization. Industrial electronics, aerospace electronics, and automotive electronics are also undergoing digital transformations, requiring improved electromagnetic compatibility (EMC) and thermal management. Bio-based materials are increasingly being explored for their potential in electronic applications, while big data analytics is enabling better supply chain traceability and optimization. The market for electronic chemicals and materials is dynamic and evolving, presenting numerous opportunities for businesses to innovate and grow.

How is this Electronic Chemicals And Materials Industry segmented?

The electronic chemicals and materials industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Wafers
  Atmospheric and specialty gases
  Ancillary and photoresist chemicals
  CMP slurries and pads
  Others


Application

  IC manufacturing
  PCB manufacturing
  Semiconductor packaging


Material

  Semiconductive materials
  Conductive materials
  Dielectric materials
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea
    Taiwan


  Rest of World (ROW)

By Product Insights

The wafers segment is estimated to witness significant growth during the forecast period. The market is driven by various factors, including the increasing demand for advanced electronic devices and the need for cost reduction and performance enhancement in manufacturing processes. Application engineering plays a crucial role in developing new applications for electronic chemicals, such as memory chips and integrated circuits (ICS), which require high-quality materials for optimal functionality. Advanced materials, including carbon nanotubes and thin films, are increasingly being adopted for their su

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Online Bus Ticketing Service Market Size 2024-2028

The online bus ticketing service market size is forecast to increase by USD 5.74 billion at a CAGR of 26.97% between 2023 and 2028.

The market is witnessing significant growth due to several key factors. The increasing penetration of the internet and smartphones has made it easier for consumers to book bus tickets digitally. Moreover, the adoption of digital payment platforms, such as e-wallets and software-based wallets, has catalyzed the growth of the market. However, the global economic slowdown has presented challenges for market growth. Despite these challenges, the market is expected to continue its upward trajectory, driven by the convenience and time-saving benefits of online bus ticketing services. Consumers can now easily purchase bus tickets using their smartphones and make payments through various digital wallets, making the process more efficient and convenient. This trend is particularly prominent in business travel, where time management is crucial. Overall, the market is poised for steady growth In the coming years.

What will be the Size of the Online Bus Ticketing Service Market During the Forecast Period?

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The market encompasses the provision of booking applications and websites that enable customers to purchase bus tickets digitally. This market is experiencing significant growth due to the increasing adoption of smartphones and secure transaction methods among tech-friendly tourists and working adults. Online transaction applications and websites offer convenience and real-time reporting, allowing users to access travel updates, alerts, and personalized offers. Both private and public bus companies, as well as travel agencies, have integrated reservation technology and software into their operations, creating a centralized network for booking. Local travel agents and online travel agents also participate in this market, with the latter often earning commissions through partnerships.
The tourism industry's shift towards digital platforms has fueled the market's expansion, with social media and digital marketing playing essential roles in customer acquisition. Desktop-based applications and smart gadgets further broaden the market's reach, while discount codes and real-time reporting enhance the user experience. Overall, the market is poised for continued growth as the trend towards digital booking solutions continues.

How is this Online Bus Ticketing Service Industry segmented and which is the largest segment?

The online bus ticketing service industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Business travel
  Tourism travel


Type

  Mobile application
  Desktop


Geography

  APAC

    China
    India


  North America

    Canada
    US


  Europe

    Germany


  South America



  Middle East and Africa

By Application Insights

The business travel segment is estimated to witness significant growth during the forecast period.

The business travel segment In the market caters to professionals requiring bus transportation for their work-related journeys. Business travelers often have specific requirements, such as accommodating multiple staff, creating itineraries, and preferring business or first-class seats. To address these needs, online bus ticketing service providers focus on offering unique features like Wi-Fi access, power outlets, and business lounges. These services enable seamless travel planning and enhance the overall experience for corporate clients. Additionally, real-time reporting, commissions for travel agents, and integrated payment solutions like e-wallets streamline the booking process. Online applications, social media, and digital marketing channels facilitate easy access to cost-effective routes and personalized offers for tech-friendly business travelers. The market expansion includes city-to-city buses, digitization, and innovative marketing strategies, ensuring a sophisticated travel experience for business clients.

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The business travel segment was valued at USD 820.01 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 34% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in APAC is experiencing significant growth due to the increasing number of business travelers