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.
India’s share of global gross domestic product (GDP) rose to 8.25 percent in 2024 when adjusted for purchasing power parity (PPP) and was projected to increase to 10 percent by 2030. This reflects the growth of India’s economy, which is helped in this ranking by the low purchasing power of the rupee. The Indian economy A significant portion of India’s economic growth comes from a shift in the workforce from the agricultural sector to the more-productive service sector. This labor force shift is particularly significant in India because of the country’s staggering population figures. As such, changes in the Indian economy have an impact on a significant portion of the world population. What does PPP mean? The Economist magazine uses the Big Mac Index to illustrate purchasing power. Since the product should be the same in every country that has a McDonalds, the Big Mac’s price should reflect the purchasing power of each local currency. For the calculation in this statistic, economists took the prices of several standard goods (though not the Big Mac) and put them at the same level based on their prices in the local currency. Thus, the power of these currencies to purchase was put on par across countries, giving purchasing power parity. As such, this statistic can be interpreted as the relative size of the Indian economy if the whole world used the Indian rupee price levels.
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India: Economic growth forecast: The latest value from 2030 is 6.5 percent, an increase from 6.49 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for India from 1980 to 2030 is 6.07 percent. The minimum value, -5.78 percent, was reached in 2020 while the maximum of 9.69 percent was recorded in 2021.
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 was valued at over 145 trillion Indian rupees in financial year 2020 in India. This was estimated to dip down to 143 trillion Indian rupees in financial year 2022. The decrease in the value of GDP in the financial years 2020 and 2021 seemed to be due to the coronavirus pandemic.
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.
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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.
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from 1961 to 2021
. Use this dataset to do Data Visualisation and Data Analytics.2030
and 2050
GDP and Per Capita of India, and comment your results on Discussion page.In the financial year 2022, the contribution of the construction sector to the total economic output was 10.5 percent. According to the forecast, the contribution was likely to gradually reduce to 9.4 percent by 2030.
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GDP (Current Prices) measures the total market worth of all finished products and services produced in a nation during a given time period, usually a year. This metric does not adjust for inflation, meaning it reflects the value of goods and services at the prices that prevail during the time of measurement. GDP (Current Prices – Purchasing Power Parity) adjusts the GDP figures for differences in price levels between countries, converting them into a common currency (international dollars). It allows for a more accurate comparison of economic productivity and living standards between countries. GDP (Current Prices) is often used to compare the economic performance of countries in nominal terms, providing a snapshot of economic size and wealth at the current exchange rate. GDP (Current Prices – Purchasing Power Parity) is used for comparing economic productivity and living standards between countries by eliminating the distortions caused by exchange rate fluctuations.
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In India Sharing Economy Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,
By the year 2030, it is projected that China will eclipse the United States and have the largest gross domestic product (GDP) in the world, at 31.7 trillion U.S. dollars. The United States is projected to have the second largest GDP, at 22.9 trillion U.S. dollars.
What is gross domestic product?
Gross domestic product, or GDP, is an economic measure of a country’s production in time. It includes all goods and services produced by a country and is used by economists to determine the health of a country’s economy. However, since GDP just shows the size of an economy and is not adjusted for the country’s size, this can make direct country comparisons complicated.
The growth of the global economy
Currently, the United States has the largest GDP in the world, at 20.5 trillion U.S. dollars. China has the second largest GDP, at 13.4 trillion U.S. dollars. In the coming years, production will become faster and more global, which will help to grow the global economy.
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India: Investment forecast: The latest value from 2030 is 33.46 percent, unchanged from 33.46 percent in 2029. In comparison, the world average is 24.06 percent, based on data from 164 countries. Historically, the average for India from 1980 to 2030 is 30.14 percent. The minimum value, 19.73 percent, was reached in 1983 while the maximum of 41.95 percent was recorded in 2007.
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Manufacturing Industries: NIC 2008: 2030: Manufacture of Man‐Made Fibres: Total Persons Engaged data was reported at 28,634.000 Person in 2017. This records an increase from the previous number of 27,196.000 Person for 2016. Manufacturing Industries: NIC 2008: 2030: Manufacture of Man‐Made Fibres: Total Persons Engaged data is updated yearly, averaging 25,254.000 Person from Mar 2009 (Median) to 2017, with 9 observations. The data reached an all-time high of 28,722.000 Person in 2014 and a record low of 19,303.000 Person in 2010. Manufacturing Industries: NIC 2008: 2030: Manufacture of Man‐Made Fibres: Total Persons Engaged data remains active status in CEIC and is reported by Central Statistics Office. The data is categorized under India Premium Database’s Mining and Manufacturing Sector – Table IN.BAE057: Manufacturing Industry: NIC 2008: 2030: Manufacture of Man‐Made Fibres.
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India: Current account balance forecast, percent of GDP: The latest value from 2030 is -2.25 percent, a decline from -2.07 percent in 2029. In comparison, the world average is -0.96 percent, based on data from 181 countries. Historically, the average for India from 1980 to 2030 is -1.39 percent. The minimum value, -4.81 percent, was reached in 2012 while the maximum of 2.32 percent was recorded in 2003.
Since the beginning of the 21st century, the BRICS countries have been considered the five foremost developing economies in the world. Originally, the term BRIC was used by economists when talking about the emerging economies of Brazil, Russia, India, and China, however these countries have held annual summits since 2009, and the group has expanded to include South Africa since 2010. China has the largest GDP of the BRICS country, at 16.86 trillion U.S. dollars in 2021, while the others are all below three trillion. Combined, the BRICS bloc has a GDP over 25.85 trillion U.S. dollars in 2022, which is slightly more than the United States. BRICS economic development China has consistently been the largest economy of this bloc, and its rapid growth has seen it become the second largest economy in the world, behind the U.S.. China's growth has also been much faster than the other BRICS countries; for example, when compared with the second largest BRICS economy, its GDP was less than double the size of Brazil's in 2000, but is almost six times larger than India's in 2021. Since 2000, the country with the second largest GDP has fluctuated between Brazil, Russia, and India, due to a variety of factors, although India has held this position since 2015 (when the other two experienced recession), and it's growth rate is on track to surpass China's in the coming decade. South Africa has consistently had the smallest economy of the BRICS bloc, and it has just the third largest economy in Africa; its inclusion in this group is due to the fact that it is the most advanced and stable major economy in Africa, and it holds strategic importance due to the financial potential of the continent in the coming decades. Future developments It is predicted that China's GDP will overtake that of the U.S. by the end of the 2020s, to become the largest economy in the world, while some also estimate that India will also overtake the U.S. around the middle of the century. Additionally, the BRICS group is more than just an economic or trading bloc, and its New Development Bank was established in 2014 to invest in sustainable infrastructure and renewable energy across the globe. While relations between its members were often strained or of less significance in the 20th century, their current initiatives have given them a much greater international influence. The traditional great powers represented in the Group of Seven (G7) have seen their international power wane in recent decades, while BRICS countries have seen theirs grow, especially on a regional level. Today, the original BRIC countries combine with the Group of Seven (G7), to make up 11 of the world's 12 largest economies, but it is predicted that they will move further up on this list in the coming decades.
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India IN: External Debt: INT: Interest Payments: Long-Term data was reported at 7.546 USD bn in 2031. This records a decrease from the previous number of 9.450 USD bn for 2030. India IN: External Debt: INT: Interest Payments: Long-Term data is updated yearly, averaging 4.214 USD bn from Dec 1970 (Median) to 2031, with 62 observations. The data reached an all-time high of 22.710 USD bn in 2024 and a record low of 223.220 USD mn in 1971. India IN: External Debt: INT: Interest Payments: Long-Term 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.IDS: External Debt: Disbursements and Interest Payment: Annual. Interest payments on long-term debt are actual amounts of interest paid by the borrower in currency, goods, or services in the year specified. Long-term external debt is defined as debt that has an original or extended maturity of more than one year and that is owed to nonresidents by residents of an economy and repayable in currency, goods, or services. Data are in current U.S. dollars.
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Inflation Rate in India decreased to 2.82 percent in May from 3.16 percent in April of 2025. This dataset provides - India Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
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India: Inflation forecast: The latest value from 2030 is 4 percent, unchanged from 4 percent in 2029. In comparison, the world average is 3.65 percent, based on data from 182 countries. Historically, the average for India from 1980 to 2030 is 6.92 percent. The minimum value, 2.47 percent, was reached in 2018 while the maximum of 15.02 percent was recorded in 1990.
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India: Unemployment rate forecast: The latest value from 2030 is 4.94 percent, unchanged from 4.94 percent in 2029. In comparison, the world average is 6.28 percent, based on data from 100 countries. Historically, the average for India from 2018 to 2030 is 5.94 percent. The minimum value, 4.94 percent, was reached in 2023 while the maximum of 8.9 percent was recorded in 2018.
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.