India - Economy
How is the economy of India? Based on the information we have, India has a largest South Asian economy; key US trading partner; many informal domestic economies; promoting self-reliance and increasing market access barriers; credit access weaknesses contributing to lower private consumption and inflation; ongoing social and infrastructure equity efforts. Key agricultural products in this country include: sugarcane, rice, milk, wheat, bison milk, potatoes, vegetables, bananas, maize, onions (2022).
More about the economy of India
| Labor force | 554.145 million (2022 est.) |
|---|---|
| Industrial production growth rate | 4.38% (2022 est.) |
| Industries | textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals |
| Population below poverty line | 21.9% (2011 est.) |
| Taxes and other revenues | 12.02% (of GDP) (2018 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Indian rupees (INR) per US dollar - |
| Exchange rates 2022 | 78.604 (2022 est.) |
| Exchange rates 2021 | 73.918 (2021 est.) |
| Exchange rates 2020 | 74.1 (2020 est.) |
| Exchange rates 2019 | 70.42 (2019 est.) |
| Exchange rates 2018 | 68.389 (2018 est.) |
| Debt - external | |
| Debt - external 2019 | $555.388 billion (2019 est.) |
| Debt - external 2018 | $518.34 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $567.298 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $638.485 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $590.227 billion (2020 est.) |
| Current account balance | |
| Current account balance 2022 | -$79.051 billion (2022 est.) |
| Current account balance 2021 | -$33.422 billion (2021 est.) |
| Current account balance 2020 | $32.73 billion (2020 est.) |
| Public debt | |
| Public debt 2018 | 46.52% of GDP (2018 est.) |
| Public debt 2017 | 47.58% of GDP (2017 est.) |
| Public debt 2016 | 47.63% of GDP (2016 est.) |
| Budget | |
| Revenues | $495.007 billion (2020 est.) |
| Expenditures | $818.94 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | -3.5% (of GDP) (2017 est.) |
| Remittances | |
| Remittances 2022 | 3.26% of GDP (2022 est.) |
| Remittances 2021 | 2.84% of GDP (2021 est.) |
| Remittances 2020 | 3.11% of GDP (2020 est.) |
| Household income | |
| Lowest 10% | 3.5% |
| Highest 10% | 27.8% (2021 est.) |
| Average household expenditures | |
| On food | 32.1% of household expenditures (2021 est.) |
| On alcohol and tobacco | 2.2% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $902.304 billion (2022 est.) |
| Imports 2021 | $717.119 billion (2021 est.) |
| Imports 2020 | $493.033 billion (2020 est.) |
| Imports (partners) | China 15%, UAE 7%, US 7%, Saudi Arabia 6%, Russia 6% (2022) |
| Comodities Imports force | crude petroleum, coal, gold, natural gas, diamonds (2022) |
| Exports | |
| Imports 2022 | $902.304 billion (2022 est.) |
| Imports 2021 | $717.119 billion (2021 est.) |
| Imports 2020 | $493.033 billion (2020 est.) |
| Exports (partners) | US 18%, UAE 7%, Netherlands 4%, China 3%, Bangladesh 3% (2022) |
| Comodities Exports force | refined petroleum, diamonds, packaged medicine, garments, jewelry (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $10.079 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $9.399 trillion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $8.619 trillion (2020 est.) |
| GDP (official exchange rate) | $3.417 trillion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $7,100 (2022 est.) |
| Real GDP per capita 2021 | $6,700 (2021 est.) |
| Real GDP per capita 2020 | $6,200 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 15.4% (2016 est.) |
| Industry | 23% (2016 est.) |
| Services | 61.5% (2016 est.) |
| GDP - composition, by end use | |
| Household consumption | 59.1% (2017 est.) |
| Government consumption | 11.5% (2017 est.) |
| Investment in fixed capital | 28.5% (2017 est.) |
| Investment in inventories | 3.9% (2017 est.) |
| Exports of goods and services | 19.1% (2017 est.) |
| Imports of goods and services | -22% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 4.82% (2022 est.) |
| Unemployment rate 2021 | 6.38% (2021 est.) |
| Unemployment rate 2020 | 7.86% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 28.3% (2021 est.) |
| Male | 28.6% |
| Female | 26.7% |
All Important Facts about India
Want to know more about India? Check all different factbooks for India below.
