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Economic Fact Sheet

India - Economic

Currency: Indian National Rupee (INR)

Area Total: 3.3 Million sq. km

Economic Indicators: INDICATOR

2019-20

2020-21

2021-22

2022-23

GDP in trillion Rs.

 

(at current market prices)

201.04

198.54

235.97

269.50

GDP Growth Rate %

4.2

-6.6

8.7

7

Inflation %

4.8

6.2

5.5

6.8

Gross Domestic Product (GDP) Composition by Sector (FY 2022-23)

  • Manufacturing & Construction: : 22.9%
  • Financing, Insurance, Real Estate & Other Business Services: 18.8%
  • Trade, Transport, Hotels and Communication: 20.0%
  • Agriculture, Forestry & Fishing: : 9.4%
  • Public Administration, defence and other services: 15.5%

The Indian economy is expected to grow at 6.8 per cent in FY 2023-24, as per the forecast by the International Monetary Fund (IMF).

More information on the Macro Economic Indicators of India is available on the Economic Survey website at https://www.indiabudget.gov.in/economicsurvey

Trade & Investment:

(All figures in US$ billion)

INDICATOR

2020-21

2021-22

2022-23

India's Total Trade

686.24

1,035.05

1,167.04

India's Total Exports

291.81

422

451.07

India's Total Imports

394.43

613.05

715.97

India’s top 10 export destination 2022-23: USA, UAE, Netherlands, China, Bangladesh, Singapore, UK, Saudi Arabia, Germany, and Indonesia

India’s top 10 import sources 2022-23: China, UAE, USA, Russia, Saudi Arabia, Iraq, Indonesia, Singapore, Korea RP, and Australia

Statistics for top 10 export sources: FY 2022-23 in US $ million

S.No.

Country

2022-23

1

USA

78,542.60

2

UAE

31,608.79

3

Netherlands

21,618.38

4

China

15,306.10

5

Bangladesh

12,215.85

6

Singapore

11,992.94

7

UK

11,405.63

8

Saudi Arabia

10,727.65

9

Germany

10,134.55

10

Indonesia

10,024.30

Statistics for top 10 import destination: FY 2022-23 in US $ million

S.No.

Country

2022-23

1

China

98,505.77

2

UAE

53,231.55

3

USA

50,863.87

4

Russia

46,212.71

5

Saudi Arabia

42,035.27

6

Iraq

34,385.50

7

Indonesia

28,820.41

8

Singapore

23,595.35

9

Korea RP

21,227.32

10

Australia

19,011.31

More Information on India's foreign trade is available on the website of the Department of Commerce at https://tradestat.commerce.gov.in/eidb/default.asp

FDI Investments:

(All figures in US$ billion)

FY

2020-21

2021-22

2022-23

Total FDI

59.64

58.77

46.04

Cumulative Total from April 2000 till March 2023: US $ 919.63 bn.

Share of Top Investing Countries in total FDI Equity Inflows: Mauritius (26%), Singapore (23%), USA (9%), Netherlands (7%), Japan (6%), UK (5%), UAE (2%), Cayman Islands (2%), Germany (2%), Cyprus (2%) (as of March 2023)

Major Sectors Attracting Highest FDI Equity Inflows: Services Sector (16%), Computer Software and Hardware (15%), Telecommunications (6%), Trading (6%), ConstructionInfrastructure (5%), Automobile Industry (5%), Construction Development (4%), Chemicals (3%), Drugs and Pharmaceuticals (3%), Metallurgical Industries (3%) (As of March 2023)

Leading Investing Countries: Mauritius, Singapore, USA, Netherland, Japan, UK, UAE

More information on FDI investments is available on the website of Department of Industrial Policy & Promotions at https://dpiit.gov.in/publications/fdi-statistics

Foreign Exchange Reserves (2020-21): USD 578.45 bn. (as on 31 March 2023)

Financial Year: April 1 – March 31

Main mineral resources: Iron ore, Zinc, Chromite, Bauxite, Manganese ore, Limestone

Principal Crops: Sugarcane, Wheat, Rice, Maize, Cotton

Currency: (1 USD =82.21 Rs; 1 Euro=89.60 Rs) (as on 31 March 2023)

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Economic Fact Sheet

India - Economic
Currency: Indian National Rupee (INR)
Area Total: 3.3 Million sq. km

Economic Indicators:

INDICATOR

2017-18

2018-19

2019-20

 

 

2020-21

GDP in trillion Rs.

(at current market prices)

171.0

189.7

203.4

194.8

GDP Growth Rate %

7.0

6.1

4.2

-7.7

Inflation %

3.6

3.4

4.8

6.6

Gross Domestic Product (GDP) Composition by Sector (FY 2020-21 estimate)

  • Manufacturing & Construction: 21.59%
  • Financing, Insurance, Real Estate & Other Business Services: 22.05 %
  • Trade, Transport, Hotels and Communication: 16.42%
  • Agriculture, Forestry & Fishing:20.09%
  • Community, Social &Other Services: 19.85%

The Indian economy is expected to grow at 11.5 per cent in FY 2021-22, as per the forecast by the International Monetary Fund (IMF).

More information on the Macro Economic Indicators of India is available on the Economic Survey website at https://www.indiabudget.gov.in/economicsurvey

Trade & Investment:

(All figures in US$ billion)

INDICATOR

2018-19

2019-20

2020-21

 

India's Total Trade

844.15

788.07

686.24

India's Total Exports

330.07

313.36

291.81

India's Total Imports

514.08

474.71

394.43

India’s top 10 export destination 2020-21: USA, China, UAE,  Hong Kong, Bangladesh, Singapore, UK, Germany, Nepal, Netherlands

India’s top 10 import sources 2020-21: China, USA, UAE, Switzerland, Saudi Arabia, Hong Kong, Iraq, Germany, Singapore, Korea RP

 

Statistics for top 10 import sources: FY 2020-21 in US $ million

S.No.

Country

2020-21

1

China

65,212.25

2

USA

28,888.10

3

UAE

26,622.99

4

Switzerland

18,230.95

5

Saudi Arabia

16,186.76

6

Hong Kong

15,172.82

7

Iraq

14,287.10

8

Germany

13,643.02

9

Singapore

13,304.92

10

Korea RP

12,772.97

Statistics for top 10 export destination: FY 2020-21 in US $ million

S.No.

Country

2020-21

1

USA

51,623.14

2

China

21,1187.15

3

UAE

16,679.54

4

Hong Kong

10162.40

5

Bangladesh

9691.56

6

Singapore

8675.50

7

UK

8157.56

8

Germany

8124.93

9

Nepal

6838.46

10

Netherlands

6472.82

 

More Information on India's foreign trade is available on the website of the Department of Commerce at https://tradestat.commerce.gov.in/eidb/default.asp

FDI Investments:

(All figures in US$ billion)

FY

2018-19

2019-20

2020-21

Total FDI

44.36

49.97

59.64

Cumulative Total from April 2000 till March 2021: US $ 529.75 bn.

Share of Top Investing Countries in total FDI Equity Inflows: Mauritius (28%), Singapore (22%), USA (8 %), Netherlands (7%), Japan (7%), UK (6%), Germany (2%), UAE (2%), Cyprus (2%) (as ofOctober 2021)

Major Sectors Attracting Highest FDI Equity Inflows: Services Sector (16%), Computer Software and Hardware (13%), Telecommunications (7%), Trading (6%), Construction Development (5%), Automobile Industry (5%), Construction Infrastructure (5%), Chemicals (3%), Drugs and Pharmaceuticals (3%), Hotel & Tourism (3%) (As of October 2021)

Leading Investing Countries: Mauritius, Singapore, USA, Japan, Netherlands, UK

More information on FDI investments is available on the website of Department of Industrial Policy & Promotions at https://dpiit.gov.in/publications/fdi-statistics

Foreign Exchange Reserves (2020-21): USD 608.99 bn. (as on 25 June 2021)

Financial Year: April 1 – March 31

Main mineral resources: Iron ore, Zinc, Chromite, Bauxite, Manganese ore, Limestone
Principal crops: Sugarcane, Wheat, Rice, Maize, Cotton

Currency: (1 USD =75.05 Rs; 1 Euro=87.50 Rs) (as on 19 October, 2021)


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