Welcome to Embassy of India, Berlin(Germany)

Overview

India has emerged as the fastest-growing major economy in the world and is expected to be one of the top three economic powers in the world over the next 10-15 years, backed by its robust democracy and strong partnerships. It is one of the most attractive investment destinations globally. Strong economic growth in the first quarter of Financial Year (FY) 2022-23 helped India overcome the UK to become the fifth-largest economy after it recovered from the COVID-19 pandemic shock. Indian economy in FY 2023-24 is estimated at US$ 3.52 trillion. Growth in real GDP during FY 2023-24 is estimated at 7.6% as compared to 7.0% in 2022-23. Early indications suggest a continuation of the economic momentum during the first quarter of FY25.
A number of the Government's flagship programmes, including Make in India, Start-up India, Digital India, the Smart City Mission, the Atal Mission for Rejuvenation and Urban Transformation etc is aimed at creating immense opportunities in India. Numerous foreign companies are setting up their facilities in India on account of these Government initiatives. The Government of India, under its Make in India initiative, is trying to boost the contribution made by the manufacturing sector with an aim to take it to 25% of the GDP from the current 17%. Besides, the Government has also come up with the Digital India initiative, which focuses on three core components: the creation of digital infrastructure, delivering services digitally, and increasing digital literacy. With the opening up of FDI in several sectors, and attractive Production Linked Incentive (PLI) schemes, the country is an eye-catching destination for overseas investors. This page provides useful resources and links for the introduction to the Indian Economy.