Economy

Sumanth Reddy Lingampally

@sumanthchandu

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Sumanth Reddy Lingampally

@sumanthchandu

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Economy of India
Statistics
Mumbai, the financial centre of India ^[1] ^[2]
Currency	Indian 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^[3] Lower-middle income economy^[4] Mixed economy^[5] Newly industrialized country Welfare state^[6]^[7]^[8]^[9] Socialist state^[10]^[11]
Population	1,428,627,663 (1st; 2024 est.)^[12]
GDP	$3.89 trillion (nominal; 2024 est.)^[13] $16.02 trillion (PPP; 2024 est.)^[13]
GDP rank	5th (nominal; 2024) 3rd (PPP; 2024)
GDP growth	8.2% (FY2023)^[14] 7.0% (FY2024)^[14]
GDP per capita	$2,698 (nominal; 2024 est.) ^[14] $11,112 (PPP; 2024 est.) ^[14]
GDP per capita rank	141th (nominal; 2024)^[a] 125th (PPP; 2024)^[a]
GDP by sector	Agriculture: 18.4% Infrastructure: 3.4% ^[15] Industry: 28.3% Services: 53.3% (FY 2021–22)^[16]
GDP by component	Private final consumption: 57.2% Government final consumption: 10.3% Gross fixed capital formation: 33.9% Exports of goods and services: 22.7% Imports of goods and services: -29.7% Other source: 5.7% (FY 2022–23)^[17]
Inflation ( CPI)	5.49% (September2024) ^[18]
Base borrowing rate	4.50% (August 2024)^[19]
Population below poverty line	82% on less than $6.85/day (2021)^[20] 44% on less than $3.65/day (2021)^[21]
Gini coefficient	35.7 medium (2019)^[22] 32.8 medium (2021)^[23]
Human Development Index	0.644 medium (2022, HDI 134th)^[24] 0.444 low (2022, IHDI 118th)^[24]
Corruption Perceptions Index	39 out of 100 points (2023)^[25] (rank 93rd)
Labour force	586 million (2023)^[26] 49.8% employment rate (2022)^[27] 90%–95% of workers are engaged in the unorganized sector.^[28]^[29]^[30]
Labour force by occupation	Infrastructure: 10.71% ^[31]^[32]^[33] Agriculture: 42.60% ^[34] Industry: 25.12% ^[35] Services: 32.28% ^[36] (2019)
Unemployment	7.6% March 2024 ^[37]^[38]
Average gross salary	US$ 206 (self employed urban males) US$ 116 (self employed rural males) per month (2022)
Average net salary	US$ 181 (self employed urban males) US$ 102 (self employed rural males) per month (2022)
Final consumption expenditure	70.9% of GDP (2022)^[39]
Gross capital formation	29% of GDP (2022)^[40]
Gross savings	31.781% of GDP (2023)^[41]
Yield curve	10-year bond 7.190% (Jan 2023)^[42]^[43]
Purchasing Managers' Index	58.3 Manufacturing (June 2024)^[44] 61.2 Services (June 2024)^[45]
Main industries	Textiles chemicals food processing steel transportation equipment cement mining petroleum machinery software pharmaceuticals^[46]
External
Exports	$776.68 billion (FY 2023–24)^[47]
Export goods	Manufacturers 70.7% Fuels and mining products 14.7% Agricultural products 14.1% Others 0.5%^[48] (2022)
Main export partners	United States 17.7% European Union 17.4% United Arab Emirates 8.2% China 5.7% Hong Kong 1.9% Singapore 2.9% United Kingdom 2.6% Saudi Arabia 2.6% Bangladesh 2.5% South Africa 2.0% Australia 1.8% (2023–24)^[49]
Imports	$854.80 billion (FY 2023–24)^[47]
Import goods	Agricultural products 7% Fuels and mining products 33.2% Manufacturers 52.1% Other 7.7 %^[48] (2022)
Main import partners	China 18.1% Hong Kong 3.0% Russia 9.1% European Union 8.8% United Arab Emirates 7.1% United States 6.0% Saudi Arabia 4.7% Iraq 4.4% Indonesia 3.5% Switzerland 3.1% Singapore 3.1% (2023–24)^[49]
FDI stock	$514 Billion (2021–22) ^[50]^[51]
Current account	–$120.569 billion (2022)^[41]^[52] –3.476% of GDP (2022)^[41]
Gross external debt	$663.8 billion (March 2024)^[53] ( 18.7% of GDP)
Net international investment position	–$379.7 billion (June 2023)^[54]
Public finances
Government debt	₹246.531 trillion (US$3.0 trillion)^[41] 81.9% of GDP (2023)^[41]
Budget balance	–6.4% of GDP (2022–23)^[55]
Revenues	₹27.163 trillion (US$330 billion) (2023–24) ^[56]
Expenses	₹45.031 trillion (US$540 billion) (2023–24) ^[56]
Economic aid	Donor: $4.234 billion (2021) ($30.59 billions Line of Credit in total) ^[57]
Credit rating	Standard & Poor's:^[58] BBB− Outlook: Positive Moody's:^[58] Baa3 Outlook: Stable Fitch:^[58] BBB− Outlook: Stable DBRS:^[59] BBB(low) Outlook: Positive
Foreign reserves	$704.885 billion^[b]^[60] (4th) (as of 27 September 2024)
All values, unless otherwise stated, are in US dollars.

Source : Wikipedia under CC-BY-SA license

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Economy of India
Statistics
Mumbai, the financial centre of India ^[1] ^[2]
Currency	Indian 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^[3] Lower-middle income economy^[4] Mixed economy^[5] Newly industrialized country Welfare state^[6]^[7]^[8]^[9] Socialist state^[10]^[11]
Population	1,428,627,663 (1st; 2024 est.)^[12]
GDP	$3.89 trillion (nominal; 2024 est.)^[13] $16.02 trillion (PPP; 2024 est.)^[13]
GDP rank	5th (nominal; 2024) 3rd (PPP; 2024)
GDP growth	8.2% (FY2023)^[14] 7.0% (FY2024)^[14]
GDP per capita	$2,698 (nominal; 2024 est.) ^[14] $11,112 (PPP; 2024 est.) ^[14]
GDP per capita rank	141th (nominal; 2024)^[a] 125th (PPP; 2024)^[a]
GDP by sector	Agriculture: 18.4% Infrastructure: 3.4% ^[15] Industry: 28.3% Services: 53.3% (FY 2021–22)^[16]
GDP by component	Private final consumption: 57.2% Government final consumption: 10.3% Gross fixed capital formation: 33.9% Exports of goods and services: 22.7% Imports of goods and services: -29.7% Other source: 5.7% (FY 2022–23)^[17]
Inflation ( CPI)	5.49% (September2024) ^[18]
Base borrowing rate	4.50% (August 2024)^[19]
Population below poverty line	82% on less than $6.85/day (2021)^[20] 44% on less than $3.65/day (2021)^[21]
Gini coefficient	35.7 medium (2019)^[22] 32.8 medium (2021)^[23]
Human Development Index	0.644 medium (2022, HDI 134th)^[24] 0.444 low (2022, IHDI 118th)^[24]
Corruption Perceptions Index	39 out of 100 points (2023)^[25] (rank 93rd)
Labour force	586 million (2023)^[26] 49.8% employment rate (2022)^[27] 90%–95% of workers are engaged in the unorganized sector.^[28]^[29]^[30]
Labour force by occupation	Infrastructure: 10.71% ^[31]^[32]^[33] Agriculture: 42.60% ^[34] Industry: 25.12% ^[35] Services: 32.28% ^[36] (2019)
Unemployment	7.6% March 2024 ^[37]^[38]
Average gross salary	US$ 206 (self employed urban males) US$ 116 (self employed rural males) per month (2022)
Average net salary	US$ 181 (self employed urban males) US$ 102 (self employed rural males) per month (2022)
Final consumption expenditure	70.9% of GDP (2022)^[39]
Gross capital formation	29% of GDP (2022)^[40]
Gross savings	31.781% of GDP (2023)^[41]
Yield curve	10-year bond 7.190% (Jan 2023)^[42]^[43]
Purchasing Managers' Index	58.3 Manufacturing (June 2024)^[44] 61.2 Services (June 2024)^[45]
Main industries	Textiles chemicals food processing steel transportation equipment cement mining petroleum machinery software pharmaceuticals^[46]
External
Exports	$776.68 billion (FY 2023–24)^[47]
Export goods	Manufacturers 70.7% Fuels and mining products 14.7% Agricultural products 14.1% Others 0.5%^[48] (2022)
Main export partners	United States 17.7% European Union 17.4% United Arab Emirates 8.2% China 5.7% Hong Kong 1.9% Singapore 2.9% United Kingdom 2.6% Saudi Arabia 2.6% Bangladesh 2.5% South Africa 2.0% Australia 1.8% (2023–24)^[49]
Imports	$854.80 billion (FY 2023–24)^[47]
Import goods	Agricultural products 7% Fuels and mining products 33.2% Manufacturers 52.1% Other 7.7 %^[48] (2022)
Main import partners	China 18.1% Hong Kong 3.0% Russia 9.1% European Union 8.8% United Arab Emirates 7.1% United States 6.0% Saudi Arabia 4.7% Iraq 4.4% Indonesia 3.5% Switzerland 3.1% Singapore 3.1% (2023–24)^[49]
FDI stock	$514 Billion (2021–22) ^[50]^[51]
Current account	–$120.569 billion (2022)^[41]^[52] –3.476% of GDP (2022)^[41]
Gross external debt	$663.8 billion (March 2024)^[53] ( 18.7% of GDP)
Net international investment position	–$379.7 billion (June 2023)^[54]
Public finances
Government debt	₹246.531 trillion (US$3.0 trillion)^[41] 81.9% of GDP (2023)^[41]
Budget balance	–6.4% of GDP (2022–23)^[55]
Revenues	₹27.163 trillion (US$330 billion) (2023–24) ^[56]
Expenses	₹45.031 trillion (US$540 billion) (2023–24) ^[56]
Economic aid	Donor: $4.234 billion (2021) ($30.59 billions Line of Credit in total) ^[57]
Credit rating	Standard & Poor's:^[58] BBB− Outlook: Positive Moody's:^[58] Baa3 Outlook: Stable Fitch:^[58] BBB− Outlook: Stable DBRS:^[59] BBB(low) Outlook: Positive
Foreign reserves	$704.885 billion^[b]^[60] (4th) (as of 27 September 2024)
All values, unless otherwise stated, are in US dollars.

Source : Wikipedia under CC-BY-SA license

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