Includes historical data for India’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Rising Economic Power
Projected to become the world’s third-largest economy behind the US and China by the end of this decade, India reaps the benefits of a vast and increasingly skilled workforce, swift industrialization and favorable shifts in global supply chain dynamics.
Although its regulatory framework remains burdensome, recent reforms have improved the business environment by reducing foreign investment restrictions and simplifying tax provisions.
While it boasts a highly diversified economy and exports ranging from oil products to agriculture and pharmaceuticals, India still relies on coal for about 70% of its power generation needs, posing significant challenges to the pursuit of sustainable development.
Macroeconomy & Sovereign Data
| Type of Government | Parliamentary Republic |
|---|---|
| Capital | New Dehli |
| Sovereign Ratings |
S&P: BBB– Moody’s: Baa3 Fitch: BBB– |
| Total Population | 1.4 billion |
| Median Age | 28.2 |
| Adult Per Capita Income (PPP) | 11,747.34 |
| Total GDP (2023) | USD 4.1 trillion |
India SAR GDP & Economic Overview
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Trade & Investment
| Total Exports | USD 643.7 billion (2022) |
|---|---|
| Leading Exports |
Crude Petroleum Gold Coal Diamonds Natural Gas |
| Total Imports | USD 454.2 billion (2022) |
| Leading Imports |
Refined Petroleum Diamonds Packaged Medicines Jewelry Rice |
| Source: | World Integrated Trade Solution |
India Leading Companies
| Reliance Industries Limited | Energy, Exploration & Production |
|---|---|
| State Bank of India | Financials |
| HDFC Bank | Financials |
| Infosys | Technology, IT Services |
| Tata Steel | Materials |
| Tata Motors | Industrials, Automobiles |
| Adani Enterprises | Diversified Industrials |
Major Trade Partners — Import
| China | 15.6% |
|---|---|
| United Arab Emirates | 7.6% |
| United States | 7.3% |
| Switzerland | 5.2% |
| Saudi Arabia | 4.9% |
Major Trade Partners — Export
| United States | 18.1% |
|---|---|
| United Arab Emirates | 6.5% |
| China | 5.8% |
| Bangladesh | 3.6% |
| Hong Kong | 2.9% |
Global Finance Rankings & Awards
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000