In 2020, India's economy was estimated to decline by ***** percent, most likely due to the impact of the COVID-19 pandemic. Following the 2020 economic downfall, the Indian economy is projected to grow by **** percent in 2021 and *** percent in 2022, the strongest recovery among selected countries.

India IN: GDP: Growth: Volume: Single Hit Scenario data was reported at 7.936 % in 2021. This records an increase from the previous number of -3.720 % for 2020. India IN: GDP: Growth: Volume: Single Hit Scenario data is updated yearly, averaging 7.227 % from Dec 1996 (Median) to 2021, with 26 observations. The data reached an all-time high of 8.498 % in 2010 and a record low of -3.720 % in 2020. India IN: GDP: Growth: Volume: 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. GDPV_ANNPCT - Gross domestic product, volume, growth Expenditure approach. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

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.

The Gross Domestic Product (GDP) in India expanded 8.20 percent in the third 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.

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.

India IN: GDP: Growth: Single Hit Scenario data was reported at 12.407 % in 2021. This records an increase from the previous number of 0.055 % for 2020. India IN: GDP: Growth: Single Hit Scenario data is updated yearly, averaging 12.274 % from Dec 1996 (Median) to 2021, with 26 observations. The data reached an all-time high of 19.918 % in 2010 and a record low of 0.055 % in 2020. India IN: GDP: Growth: 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. GDP_ANNPCT - Gross domestic product, nominal value, growthExpenditure approach. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

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.

The impact of the coronavirus (COVID-19) pandemic had not only brought the global economy to a standstill but set the clock backwards on the developmental progress of several nations. While the rate of infection in India did not appear to be as high as in other countries, precautionary measures adopted dealt a severe blow to the country’s major industries - with the service sector bearing the largest brunt of estimated loss. Manufacturing made a swift recovery in the following months.

Impact of key industries

The loss incurred by enforcing a lockdown in the country was estimated at 26 billion U.S. dollars and a significant decline in GDP growth is also expected in the June quarter of 2020. With the imposition of restrictions on transportation worldwide, the trade sector also took a hit. Exports and imports saw a drastic decline in the country especially in the case of essential commodities such as petroleum, food crops, and coal, among others.

Effect on business in India

The growth rate of the automotive business in India was expected to be the most adversely affected followed by the power supply and IT sectors. Furthermore, many startups, small and medium enterprises in India expected to face issues of supply disruption and a decrease in demand. The effects of aid from the Narendra Modi-led government arguably did little to help in the face of a faltering economy.

The Indian economy grew at a CAGR of 2.73% from 2011 to 2015, attracting investments from across the world, including NRIs. Moreover, the Indian government has undertaken several initiatives to stimulate the country’s overall economic growth, including infrastructure development, manufacturing, reforms in the power generation industry, and strengthening the country’s telecommunications and internet networks.
The Indian government has also opened up key sectors such as railways, defense, insurance and medical devices to attract higher levels of foreign direct investment (FDI). A favorable investment environment and strong government efforts to foster economic growth are expected to make India a preferred destination for NRI investment over the forecast period.
An Indian national who is away from India for more than 180 days per year is considered as an NRI for tax and other official purposes by the Indian government. For the purposes of issuing a PIO (person of Indian origin who is not a citizen of India) card, the Indian government considers anyone of Indian origin to be a PIO, up to four generations removed. Read More

Unemployment Rate in India remained unchanged at 5.20 percent in October. This dataset provides - India Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

A research from Deloitte shows ***** 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.

India IN: General Government: % of GDP: Net Lending: Single Hit Scenario data was reported at -7.237 % in 2021. This records an increase from the previous number of -8.160 % for 2020. India IN: General Government: % of GDP: Net Lending: Single Hit Scenario data is updated yearly, averaging -6.995 % from Dec 1995 (Median) to 2021, with 27 observations. The data reached an all-time high of -4.065 % in 2007 and a record low of -9.811 % in 2001. India IN: General Government: % of GDP: Net Lending: 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: Government Accounts: % of GDP: Forecast: Non OECD Member: Annual. NLGQ - General government net lending, as a percentage of GDPData refer to the general government sector, which is a consolidation of accounts for the central, state and local government plus social security Net lending:https://stats.oecd.org/glossary/detail.asp?ID=1758

Inflation Rate in India decreased to 0.25 percent in October from 1.44 percent in September of 2025. This dataset provides - India Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

India recorded a Government Debt to GDP of 81.92 percent of the country's Gross Domestic Product in 2024. This dataset provides - India Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

India IN: GDP: Growth: Volume: Exports of Goods and Services: Double Hit Scenario data was reported at 7.098 % in 2021. This records an increase from the previous number of -13.710 % for 2020. India IN: GDP: Growth: Volume: Exports of Goods and Services: Double Hit Scenario data is updated yearly, averaging 7.792 % from Dec 1997 (Median) to 2021, with 25 observations. The data reached an all-time high of 27.176 % in 2004 and a record low of -13.710 % in 2020. India IN: GDP: Growth: Volume: Exports of Goods and Services: Double 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. XGSV_ANNPCT - Exports of goods and services, volume, growth (national accounts basis). Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

The statistic shows the national debt in India from 2020 to 2023 in relation to gross domestic product (GDP), with projections up until 2030. In 2023, the national debt of India amounted to about 81.23 percent of the gross domestic product. India’s economy on the rise India is one of the most populous countries in the world, and although a large share of inhabitants are living below the poverty line – or probably due to this fact –, the country’s economy is growing steadily. India’s GDP growth is expected to remain steady at more than 7 percent for the next few years, which is almost double that of the global GDP, and both GDP and GDP per capita are expected to increase significantly. Almost half of India’s workforce is employed in the agricultural sector, but services and industry share the other half quite equally. India’s GDP is mostly generated by the services sector, which includes transport, retailing, and offering services in the hospitality and tourism industry. India’s trade balance has been in the red for a decade now, but seems to recover slowly. A trade deficit usually means that a country’s import costs are higher than the amount of money generated with exporting goods. India’s imports could not be compensated for by the country’s exports, as imports have been consistently, even if only slightly, higher over the years both in terms of volume and value. Still, all signs point to India’s economy growing and thriving, reducing India’s debt (as seen above) and unemployment rate, enabling the inhabitants to create a better life for themselves.

India IN: Contribution to Growth in Real GDP: Net Exports: Double Hit Scenario data was reported at -0.906 % in 2021. This records a decrease from the previous number of 1.227 % for 2020. India IN: Contribution to Growth in Real GDP: Net Exports: Double Hit Scenario data is updated yearly, averaging -0.069 % from Dec 1997 (Median) to 2021, with 25 observations. The data reached an all-time high of 4.482 % in 2013 and a record low of -2.788 % in 2017. India IN: Contribution to Growth in Real GDP: Net Exports: Double 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. CQ_FBGSV-Net exports, contribution to growth in real GDP

The coronavirus (COVID-19) had been at the center of the loss of lives and livelihood on a massive scale. In India, the economy alongside the population also requires nursing back to health. The estimated cost of a full lockdown was a whopping ** billion U.S. dollars. Most of the loss was forecast to occur in the June quarter.

Setback on the economy

The lockdown came at a time when the economy was already struggling. Trade across sectors was estimated to be impacted. This directly affected the procurement of essential items including testing equipment. Besides the import and export business, yet another major revenue generator that received a blow was the tourism industry. India’s predominantly unorganized retail market was yet another casualty with the lockdown increasing the pressure on the online retail segment to rise to the occasion. However, companies offering digital payment services such as Paytm and Google Pay appeared to have somewhat benefited from the situation.

Public healthcare in India

While the impact on the economy was one thing, lives were at risk, putting healthcare at the forefront. Access to proper healthcare services was a major concern within India irrespective of the pandemic. As of 2018, public health expenditure was valued at nearly *** trillion Indian rupees. Government health facilities were the more affordable option for a majority of the population. Availability of beds in government hospitals was proportionally higher across urban regions as opposed to rural areas. The government had increased and allocated several government and private testing laboratories to combat the virus.