India - Economy
How is the economy of India? Based on the information we have, India has a
largest South Asian economy; strong, sustained GDP growth led by technology and service sectors, foreign investment, and improved regulatory framework; high poverty rate and income inequality; initiatives on infrastructure development, digitization, manufacturing, and financial access
. Key agricultural products in this country include: sugarcane, rice, milk, wheat, bison milk, potatoes, vegetables, maize, bananas, onions (2023).More about the economy of India
| Labor force | 607.691 million (2024 est.) |
|---|---|
| Industrial production growth rate | 5.6% (2024 est.) |
| Industries | textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals |
| Population below poverty line | |
| Taxes and other revenues | 6.7% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Indian rupees (INR) per US dollar - |
| Exchange rates 2024 | 83.669 (2024 est.) |
| Exchange rates 2023 | 82.599 (2023 est.) |
| Exchange rates 2022 | 78.604 (2022 est.) |
| Exchange rates 2021 | 73.918 (2021 est.) |
| Exchange rates 2020 | 74.1 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $212.728 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $643.043 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $627.793 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $567.298 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$32.428 billion (2024 est.) |
| Current account balance 2023 | -$31.962 billion (2023 est.) |
| Current account balance 2022 | -$79.051 billion (2022 est.) |
| Public debt | |
| Public debt 2018 | 46.5% of GDP (2018 est.) |
| Budget | |
| Revenues | $311.824 billion (2022 est.) |
| Expenditures | $486.598 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 3.5% of GDP (2024 est.) |
| Remittances 2023 | 3.3% of GDP (2023 est.) |
| Remittances 2022 | 3.3% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 4.5% (2022 est.) |
| Highest 10% | 22.1% (2022 est.) |
| Average household expenditures | |
| On food | 29.9% of household expenditures (2023 est.) |
| On alcohol and tobacco | 2% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $923.081 billion (2024 est.) |
| Imports 2023 | $859.507 billion (2023 est.) |
| Imports 2022 | $902.304 billion (2022 est.) |
| Imports (partners) | China 19%, Russia 10%, USA 6%, UAE 6%, Saudi Arabia 5% (2023) |
| Comodities Imports force | crude petroleum, gold, coal, natural gas, integrated circuits (2023) |
| Exports | |
| Imports 2024 | $923.081 billion (2024 est.) |
| Imports 2023 | $859.507 billion (2023 est.) |
| Imports 2022 | $902.304 billion (2022 est.) |
| Exports (partners) | USA 19%, UAE 7%, China 4%, Germany 3%, UK 3% (2023) |
| Comodities Exports force | refined petroleum, packaged medicine, diamonds, broadcasting equipment, garments (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $14.244 trillion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $13.377 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $12.251 trillion (2022 est.) |
| GDP (official exchange rate) | $3.913 trillion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $9,800 (2024 est.) |
| Real GDP per capita 2023 | $9,300 (2023 est.) |
| Real GDP per capita 2022 | $8,600 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 16.4% (2024 est.) |
| Industry | 24.5% (2024 est.) |
| Services | 49.9% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 61.5% (2024 est.) |
| Government consumption | 10.1% (2024 est.) |
| Investment in fixed capital | 29.6% (2024 est.) |
| Investment in inventories | 3% (2024 est.) |
| Exports of goods and services | 21.2% (2024 est.) |
| Imports of goods and services | -23.5% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 4.3% (2024 est.) |
| Unemployment rate 2023 | 4.2% (2023 est.) |
| Unemployment rate 2022 | 4.9% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 16% (2024 est.) |
| Male | 15.5% (2024 est.) |
| Female | 17.6% (2024 est.) |
All Important Facts about India
Want to know more about India? Check all different factbooks for India below.
