Population: 1,210 Million | GDP: $2.2 Trillion | Area: 3.2 Million SQ KM
India has emerged as a global power in the twenty-first century, with the fourth largest GDP in terms of Purchasing Power Parity; high growth rates; a vast base of talented and educated manpower; a solid industrial infrastructure; and strong economic fundamentals. India views Latin America and the Caribbean as a region of great promise with which it has excellent political relations, rapidly growing trade and investment, and as a source of valuable resources. India also presents an important and stable market for Latin America and the Caribbean.
India – Economic Profile
| GDP (purchasing power parity) | $9.447 trillion (2017 est.) $8.852 trillion (2016 est.) $8.265 trillion (2015 est.) note: data are in 2017 dollars |
| GDP (official exchange rate) | $2.439 trillion (2016 est.) |
| GDP – real growth rate | 6.7% (2017 est.) 7.1% (2016 est.) 8% (2015 est.) |
| GDP – per capita (PPP) | $7,200 (2017 est.) $6,800 (2016 est.) $6,400 (2015 est.) note: data are in 2017 dollars |
| Gross national saving | 28.6% of GDP (2017 est.) 29.7% of GDP (2016 est.) 31.8% of GDP (2015 est.) |
| GDP – composition, by end use | household consumption: 58.7% government consumption: 11.6% investment in fixed capital: 27.5% investment in inventories: 4% exports of goods and services: 18.4% imports of goods and services: -20.2% (2017 est.) |
| GDP – composition by sector | agriculture: 16.8% industry: 28.9% services: 46.6% (2017 est.) |
| Population below poverty line | 21.9% (2011 est.) |
| Labor force | 521.9 million (2017 est.) |
| Labor force – by occupation | agriculture: 47% industry: 22% services: 31% (FY 2014 est.) |
| Unemployment rate | 8.8% (2017 est.) 8% (2016 est.) |
| Unemployment, youth ages 15-24 | total: 10.7% male: 10.4% female: 11.6% (2012 est.) |
| Household income or consumption by percentage share | lowest 10%: 3.6% highest 10%: 29.8% (2011) |
| Distribution of family income – Gini index | 35.2 (2011) 37.8 (1997) |
| Budget | revenues: $248.7 billion expenditures: $330.3 billion (2017 est.) |
| Taxes and other revenues | 10.2% of GDP (2017 est.) |
| Budget surplus (+) or deficit (-) | -3.3% of GDP (2017 est.) |
| Public debt | 50.1% of GDP (2017 est.) 50.3% of GDP (2016 est.) note: data cover central government debt, and exclude debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions |
| Inflation rate (consumer prices) | 3.8% (2017 est.) 4.5% (2016 est.) |
| Central bank discount rate | 6.25% (31 December 2016) 7.75% (31 December 2014) note: this is the Indian central bank’s policy rate – the repurchase rate |
| Commercial bank prime lending rate | 9.6% (31 December 2017 est.) 9.67% (31 December 2016 est.) |
| Stock of narrow money | $429.3 billion (31 December 2017 est.) $294.4 billion (31 December 2016 est.) |
| Stock of broad money | $2.063 trillion (31 December 2017 est.) $1.773 trillion (31 December 2016 est.) |
| Stock of domestic credit | $1.795 trillion (31 December 2017 est.) $1.622 trillion (31 December 2016 est.) |
| Market value of publicly traded shares | $1.516 trillion (31 December 2015 est.) $1.558 trillion (31 December 2014 est.) $1.139 trillion (31 December 2013 est.) |
| Agriculture – products | rice, wheat, oilseed, cotton, jute, tea, sugarcane, lentils, onions, potatoes; dairy products, sheep, goats, poultry; fish |
| Industries | textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals |
| Industrial production growth rate | 7.5% (2017 est.) |
| Current Account Balance | -$33.68 billion (2017 est.) -$15.23 billion (2016 est.) |
| Exports | $299.3 billion (2017 est.) $268.6 billion (2016 est.) |
| Exports – commodities | petroleum products, precious stones, vehicles, machinery, iron and steel, chemicals, pharmaceutical products, cereals, apparel |
| Exports – partners | US 16%, UAE 11.7%, Hong Kong 5.1% (2016) |
| Imports | $426.8 billion (2017 est.) $376.1 billion (2016 est.) |
| Imports – commodities | crude oil, precious stones, machinery, chemicals, fertilizer, plastics, iron and steel |
| Imports – partners | China 17%, US 5.8%, UAE 5.4%, Saudi Arabia 5.2%, Switzerland 4.2% (2016) |
| Reserves of foreign exchange and gold | $407.2 billion (31 December 2017 est.) $359.7 billion (31 December 2016 est.) |
| Debt – external | $483.4 billion (31 December 2017 est.) $456.4 billion (31 December 2016 est.) |
| Stock of direct foreign investment – at home | $367.5 billion (31 December 2017 est.) $318.5 billion (31 December 2016 est.) |
| Stock of direct foreign investment – abroad | $156.1 billion (31 December 2017 est.) $144.1 billion (31 December 2016 est.) |
| Exchange rates | Indian rupees (INR) per US dollar - 65.17 (2017 est.) 67.195 (2016 est.) 67.195 (2015 est.) 64.152 (2014 est.) 61.03 (2013 est.) |
| Fiscal year | 1 April – 31 March |