Economy ofIndia
Economy
Mumbai, the financial centre of India
CurrencyIndian rupee (INR, ₹)
Fiscal year
1 April  – 31 March
Trade organisations
WTO, WCO, SAFTA, BIMSTEC, WFTU, BRICS, G-20, BIS, AIIB, ADB and others
Country group
  • Developing/Emerging
  • Lower-middle income economy
  • Newly industrialized country
Statistics
PopulationIncrease 1,389,637,446 (2nd; 2022 est.)
GDP
  • Increase $3.535 trillion (nominal; 2022 est.)
  • Increase $11.745 trillion (PPP; 2022 est.)
GDP rank
  • 5th (nominal; 2022)
  • 3rd (PPP; 2022)
GDP growth
  • Decrease –6.6% (2020)
  • Increase 8.7% (2021e)
  • Increase 7.5% (2022f)
  • Increase 7.1% (2023f)
GDP per capita
  • Increase $2,543 (nominal; 2022 est.)
  • Increase $8,358 (PPP; 2022 est.)
GDP per capita rank
  • 142nd (nominal; 2022)
  • 128th (PPP; 2022)
GDP by sector
  • Agriculture: 16.38%
  • Industry: 29.34%
  • Services: 54.27%
  • (FY 2020-21)
GDP by component
  • Household consumption: 60.8%
  • Government consumption: 12.1%
  • Investment in fixed capital: 26.6%
  • Other source: 0.9%
  • Exports of goods and services: 18.7%
  • Imports of goods and services: −19.1%
  • (2020-21 est.)
Inflation (CPI)
  • Positive decrease 7.04% (May 2022)
Base borrowing rate
Steady 4.00% (18 March 2022)
Population belowpoverty line
  • Positive decrease 6% in extreme poverty (2022 est.)
Gini coefficient
33.9medium(2013)
Human Development Index
  • Increase 0.645medium(2019) (131st)
  • Increase 0.475lowIHDI (2019)
Labour force
  • Increase 471,295,273 (2021)
  • 48.7% employment rate (2020)
Labour force by occupation
  • Agriculture: 42.60%
  • Industry: 25.12%
  • Services: 32.28%
  • (2019)
Unemployment
  • Positive decrease 7.12% (May 2022)
Main industries
  • Textiles
  • chemicals
  • food processing
  • agribusiness
  • handicrafts
  • petroleum
  • petrochemicals
  • gems and jewellery
  • leather
  • iron ore
  • steel
  • aluminium
  • cement
  • mining
  • metals
  • retail
  • machinery
  • information technology
  • construction
  • financial services
  • electric power
  • consumer goods
  • pharmaceuticals
  • automotive
  • telecommunications
  • real estate
  • paper
  • transportation equipment
Ease-of-doing-business rank
Increase 63rd (easy, 2020)
External
ExportsIncrease $421.894 billion (FY2021-22)
Export goods
  • Manufacturers 70.8%
  • Fuels and mining products 17.3%
  • Agricultural products 11.5%
  • Others 0.4% (2019)
Main export partners
  •  United States 16.89%
  •  United Arab Emirates 6.77%
  •  China 3.45%
  •  Bangladesh 3.38%
  •  Netherlands 3.37%
  • Other 66.14% (FY 2021-22)
ImportsIncrease $612.608 billion (FY2021-22)
Import goods
  • Agricultural products 5.7%
  • Fuels and mining products 36.5%
  • Manufacturers 49.4%
  • Other 8.3 % (2019)
Main import partners
  •  China 12.83%
  •  United Arab Emirates 8.34%
  •  Saudi Arabia 7.12%
  •  United States 7.02%
  •  Iraq 6.72%
  • Other 57.97% (FY 2021-22)
FDI stock
  • Inward:
    • Increase $83.57 billion (2021-22)
    • Increase $81.97 billion (2020-21)
  • Outward: Increase $15.68 billion (2021-22)
Current account
Positive decrease −$24.6 billion (2020)
Grossexternal debt
Negative increase $570.0 billion (2021)
Net international investment position
Positive decrease −$352.7 billion (2021)
Public finances
Public debt
  • Positive decrease 86.902% of GDP (2021)
  • Positive decrease233.023 lakh crore(US$3.1 trillion)
Budget balance
Negative increase -10% of GDP (2021–22)
Revenues
  • 50.676 lakh crore(US$670 billion)
  • (2022-23)
Expenses
  • 77.34 lakh crore(US$1.0 trillion)
  • (2022-23)
Economic aid
Donor:
Increase$4.234 billion (2021) ($30.59 billions Line of Credit in total)
Credit rating
  • Standard & Poor's:
  • BB+
  • Outlook: Positive
  • Moody's:
  • Baa3
  • Outlook: Stable
  • Fitch:
  • BBB−
  • Outlook: Stable
  • DBRS:
  • BBB(low)
  • Outlook: Positive
Foreign reserves
Increase $601.057 billion (4th)
(as of 3 June 2022)
Main data source:CIA World Fact Book
All values, unless otherwise stated, are in US dollars.