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	$3.94 trillion (nominal; FY2023) ^[13] $14.6 trillion (PPP; FY2023) ^[14]
GDP rank	5th (nominal; 2024) 3rd (PPP; 2024)
GDP growth	8.2% (FY2023)^[15] 7.0% (FY2024)^[15]
GDP per capita	$2,698 (nominal; 2024 est.) ^[15] $11,112 (PPP; 2024 est.) ^[15]
GDP per capita rank	141st (nominal; 2024)^[a] 125th (PPP; 2024)^[a]
GDP by sector	Agriculture: 18.4% Infrastructure: 3.4% ^[16] Industry: 28.3% Services: 53.3% (FY 2021–22)^[17]
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)^[18]
Inflation ( CPI)	5.48% (October2024) ^[19]
Base borrowing rate	4.50% (August 2024)^[20]
Population below poverty line	82% on less than $6.85/day (2021)^[21] 44% on less than $3.65/day (2021)^[22]
Gini coefficient	35.7 medium (2019)^[23] 32.8 medium (2021)^[24]
Human Development Index	0.644 medium (2022, HDI 134th)^[25] 0.444 low (2022, IHDI 118th)^[25]
Corruption Perceptions Index	39 out of 100 points (2023)^[26] (rank 93rd)
Labour force	586 million (2023)^[27] 49.8% employment rate (2022)^[28] 90%–95% of workers are engaged in the unorganized sector.^[29]^[30]^[31]
Labour force by occupation	Infrastructure: 10.71% ^[32]^[33]^[34] Agriculture: 42.60% ^[35] Industry: 25.12% ^[36] Services: 32.28% ^[37] (2019)
Unemployment	7.6% March 2024 ^[38]^[39]
Average gross salary	US$ 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)^[40]
Gross capital formation	29% of GDP (2022)^[41]
Gross savings	31.781% of GDP (2023)^[42]
Yield curve	10-year bond 7.190% (Jan 2023)^[43]^[44]
Purchasing Managers' Index	58.3 Manufacturing (June 2024)^[45] 61.2 Services (June 2024)^[46]
Main industries	Textiles chemicals food processing steel transportation equipment cement mining petroleum machinery software pharmaceuticals^[47]
External
Exports	$776.68 billion (FY 2023–24)^[48]
Export goods	Manufacturers 70.7% Fuels and mining products 14.7% Agricultural products 14.1% Others 0.5%^[49] (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)^[50]
Imports	$854.80 billion (FY 2023–24)^[48]
Import goods	Agricultural products 7% Fuels and mining products 33.2% Manufacturers 52.1% Other 7.7 %^[49] (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)^[50]
FDI stock	$514 Billion (2021–22) ^[51]^[52]
Current account	–$120.569 billion (2022)^[42]^[53] –3.476% of GDP (2022)^[42]
Gross external debt	$663.8 billion (March 2024)^[54] ( 18.7% of GDP)
Net international investment position	–$379.7 billion (June 2023)^[55]
Public finances
Government debt	₹246.531 trillion (US$3.0 trillion)^[42] 81.9% of GDP (2023)^[42]
Budget balance	–6.4% of GDP (2022–23)^[56]
Revenues	₹27.163 trillion (US$330 billion) (2023–24) ^[57]
Expenses	₹45.031 trillion (US$540 billion) (2023–24) ^[57]
Economic aid	Donor: $4.234 billion (2021) ($30.59 billions Line of Credit in total) ^[58]
Credit rating	Standard & Poor's:^[59] BBB− Outlook: Positive Moody's:^[59] Baa3 Outlook: Stable Fitch:^[59] BBB− Outlook: Stable DBRS:^[60] BBB(low) Outlook: Positive
Foreign reserves	$704.885 billion^[b]^[61] (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	$3.94 trillion (nominal; FY2023) ^[13] $14.6 trillion (PPP; FY2023) ^[14]
GDP rank	5th (nominal; 2024) 3rd (PPP; 2024)
GDP growth	8.2% (FY2023)^[15] 7.0% (FY2024)^[15]
GDP per capita	$2,698 (nominal; 2024 est.) ^[15] $11,112 (PPP; 2024 est.) ^[15]
GDP per capita rank	141st (nominal; 2024)^[a] 125th (PPP; 2024)^[a]
GDP by sector	Agriculture: 18.4% Infrastructure: 3.4% ^[16] Industry: 28.3% Services: 53.3% (FY 2021–22)^[17]
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)^[18]
Inflation ( CPI)	5.48% (October2024) ^[19]
Base borrowing rate	4.50% (August 2024)^[20]
Population below poverty line	82% on less than $6.85/day (2021)^[21] 44% on less than $3.65/day (2021)^[22]
Gini coefficient	35.7 medium (2019)^[23] 32.8 medium (2021)^[24]
Human Development Index	0.644 medium (2022, HDI 134th)^[25] 0.444 low (2022, IHDI 118th)^[25]
Corruption Perceptions Index	39 out of 100 points (2023)^[26] (rank 93rd)
Labour force	586 million (2023)^[27] 49.8% employment rate (2022)^[28] 90%–95% of workers are engaged in the unorganized sector.^[29]^[30]^[31]
Labour force by occupation	Infrastructure: 10.71% ^[32]^[33]^[34] Agriculture: 42.60% ^[35] Industry: 25.12% ^[36] Services: 32.28% ^[37] (2019)
Unemployment	7.6% March 2024 ^[38]^[39]
Average gross salary	US$ 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)^[40]
Gross capital formation	29% of GDP (2022)^[41]
Gross savings	31.781% of GDP (2023)^[42]
Yield curve	10-year bond 7.190% (Jan 2023)^[43]^[44]
Purchasing Managers' Index	58.3 Manufacturing (June 2024)^[45] 61.2 Services (June 2024)^[46]
Main industries	Textiles chemicals food processing steel transportation equipment cement mining petroleum machinery software pharmaceuticals^[47]
External
Exports	$776.68 billion (FY 2023–24)^[48]
Export goods	Manufacturers 70.7% Fuels and mining products 14.7% Agricultural products 14.1% Others 0.5%^[49] (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)^[50]
Imports	$854.80 billion (FY 2023–24)^[48]
Import goods	Agricultural products 7% Fuels and mining products 33.2% Manufacturers 52.1% Other 7.7 %^[49] (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)^[50]
FDI stock	$514 Billion (2021–22) ^[51]^[52]
Current account	–$120.569 billion (2022)^[42]^[53] –3.476% of GDP (2022)^[42]
Gross external debt	$663.8 billion (March 2024)^[54] ( 18.7% of GDP)
Net international investment position	–$379.7 billion (June 2023)^[55]
Public finances
Government debt	₹246.531 trillion (US$3.0 trillion)^[42] 81.9% of GDP (2023)^[42]
Budget balance	–6.4% of GDP (2022–23)^[56]
Revenues	₹27.163 trillion (US$330 billion) (2023–24) ^[57]
Expenses	₹45.031 trillion (US$540 billion) (2023–24) ^[57]
Economic aid	Donor: $4.234 billion (2021) ($30.59 billions Line of Credit in total) ^[58]
Credit rating	Standard & Poor's:^[59] BBB− Outlook: Positive Moody's:^[59] Baa3 Outlook: Stable Fitch:^[59] BBB− Outlook: Stable DBRS:^[60] BBB(low) Outlook: Positive
Foreign reserves	$704.885 billion^[b]^[61] (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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