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India

Republic of India (English)/ Bharatiya Ganarajya (Hindi)

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$311.824 billion (2022 est.)

expenditures

$486.598 billion (2022 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$767.643 billion (2022 est.)

Exports 2023

$773.177 billion (2023 est.)

Exports 2024

$822.046 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$902.304 billion (2022 est.)

Imports 2023

$859.507 billion (2023 est.)

Imports 2024

$923.081 billion (2024 est.)

Industries

textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals

Labor force

607.691 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2018

46.5% of GDP (2018 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

3.3% of GDP (2022 est.)

Remittances 2023

3.3% of GDP (2023 est.)

Remittances 2024

3.5% of GDP (2024 est.)

Exchange rates

Currency

Indian rupees (INR) per US dollar -

Exchange rates 2020

74.1 (2020 est.)

Exchange rates 2021

73.918 (2021 est.)

Exchange rates 2022

78.604 (2022 est.)

Exchange rates 2023

82.599 (2023 est.)

Exchange rates 2024

83.669 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$212.728 billion (2023 est.)

Economic overview

largest South Asian economy; strong, sustained GDP growth led by technology and service sectors, foreign investment, and improved regulatory framework; high poverty rate and income inequality; initiatives on infrastructure development, digitization, manufacturing, and financial access

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

4.9% (2022 est.)

Unemployment rate 2023

4.2% (2023 est.)

Unemployment rate 2024

4.3% (2024 est.)

Exports - partners

USA 19%, UAE 7%, China 4%, Germany 3%, UK 3% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 19%, Russia 10%, USA 6%, UAE 6%, Saudi Arabia 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$8,600 (2022 est.)

Real GDP per capita 2023

$9,300 (2023 est.)

Real GDP per capita 2024

$9,800 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

7.6% (2022 est.)

Real GDP growth rate 2023

9.2% (2023 est.)

Real GDP growth rate 2024

6.5% (2024 est.)

Agricultural products

sugarcane, rice, milk, wheat, bison milk, potatoes, vegetables, maize, bananas, onions (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

refined petroleum, packaged medicine, diamonds, broadcasting equipment, garments (2023)

note: top five export commodities based on value in dollars

Imports - commodities

crude petroleum, gold, coal, natural gas, integrated circuits (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$79.051 billion (2022 est.)

Current account balance 2023

-$31.962 billion (2023 est.)

Current account balance 2024

-$32.428 billion (2024 est.)

Taxes and other revenues

6.7% (of GDP) (2022 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$3.913 trillion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

61.5% (2024 est.)

government consumption

10.1% (2024 est.)

investment in inventories

3% (2024 est.)

investment in fixed capital

29.6% (2024 est.)

exports of goods and services

21.2% (2024 est.)

imports of goods and services

-23.5% (2024 est.)

Average household expenditures

on food

29.9% of household expenditures (2023 est.)

on alcohol and tobacco

2% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

6.7% (2022 est.)

Inflation rate (consumer prices) 2023

5.6% (2023 est.)

Inflation rate (consumer prices) 2024

5% (2024 est.)

Industrial production growth rate

5.6% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$12.251 trillion (2022 est.)

Real GDP (purchasing power parity) 2023

$13.377 trillion (2023 est.)

Real GDP (purchasing power parity) 2024

$14.244 trillion (2024 est.)

Youth unemployment rate (ages 15-24)

male

15.5% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

16% (2024 est.)

female

17.6% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$567.298 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$627.793 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$643.043 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

24.5% (2024 est.)

services

49.9% (2024 est.)

agriculture

16.4% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

4.5% (2022 est.)

highest 10%

22.1% (2022 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2022

25.5 (2022 est.)