Indian Economy Statistics & Indicators, and in particular GDP growth, IT & Services growth, manufacturing growth, Foreign Direct Investment, Inflation and foreign exchange reserves, help us form a detailed understanding of the Indian Economy.
Indian economy statistics paint a telling and accurate picture of the ins and outs of a large and dynamic economy on the move. Thanks to a steady trend of growth observed in recent years, supported by a flourishing real estate and service sector, the Indian economy continues to grow at an incredible rate.
Originally, the catalyst for this recent growth was a boom in the IT industry, which has had sustained growth for a number of years. Industrial production has also increased at a considerable rate. With exports growing in both the manufacturing and services sectors, foreign exchange reserves have grown year-on-year.
Indian Economy Statistics & Indicators: An Overview
The Reserve Bank of India, the Securities and Exchange Board of India (SEBI), the Center for Monitoring the Indian Economy (CMIE) and other key organizations publish statistics on different aspects of the Indian economy on a monthly, quarterly, and yearly basis. Some of the primary economic indicators for India are as follows:
GDP and Economic Growth Statistics
The growth rate of Gross Domestic Product (GDP) was 9% in 2006, whereas the corresponding figure was 7.4% in 2007. The rate of GDP growth for 2008 is projected to be 8.7 %.
The growth rate of the Indian IT and ITES sector was around 20% in 2007.
The figures for foreign direct investment (FDI) have also recorded substantial growth over the last few years. In 2004, the FDI figure was US$ 4.11 billion. In the next year it stood at US $8.2 billion. The corresponding figure for 2006 was US $12.35 billion – this is an incredible 73.35% compounded annual growth.
Industrial, manufacturing, and service sectors together amounted to 77% of India’s GDP in 2007.
Indian Economy Statistics & Indicators: Further Details
- The foreign exchange reserve of India amounted to US $271 billion on 16th November, 2007.
- India’s GDP was US $911 billion in 2007.
- Exports contributed US $127 billion to the Indian GDP in the 2007 with a growth rate of 20.9%.
- Import figures stood at US $192 billion during 2007, with a growth rate of 21.59%.
- Portfolio investment amounted to US $7.1 billion in 2007.
The 2007-2008 Indian Economic Survey has projected inflation to be just above 4% for 2008. However the rapid rise in food, oil and other commodities prices pushed inflation above 11% by July 2008.
A target has also been set to lower the fiscal deficit below 3% per annum.
Indian Inflation |
Indian Economy, July 2008: Indian Inflation Rate Through the Roof
Traditional Economy |
Command Economy |
Globalization In India |
Indian Policies |
Insurance India |
India Economy Reforms |
India Debt |
India Budget |
India Budget 2008