India Economic Forecast

By: EconomyWatch Content Team   Date: 13 June 2010

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The Indian economy is diverse and includes traditional industries such as village farming, fishing, and handicrafts, as well as modern sectors such as telecommunications, transportation, and tourism. Nearly 50 percent of the population is employed in agriculture, fisheries, and farming. The Progressive Alliance or UPA in India’s government has been able to boost rural economies by developing basic facilities and infrastructure. This also enables the less wealthy segments of the population to improve their quality of life.

Some of the other areas that have changed to improve India’s economy includes government reduction of controls on foreign imports and exports, loosened controls on investments, and allowing higher limits for foreign direct investment in a few of the primary sectors. While India has experienced growth and economic improvements, fast tariff growth in agriculture, fisheries, and farming could pose challenges for foreign access to the country’s expanding market.

India GDP Forecast

India’s GDP in 2010 was US$1.4 trillion, up 15.6 percent from 2009 and is expected to rise 11.77 percent in 2011 to US$1.59 trillion. Forecasts for 2015 predict India’s GDP to rise to US$2.41trillion, rising 10 percent per year between 2010 and 2015.

India Unemployment Forecast

India’s population as of 2010 was 1.215 billion increasing 1.41 percent from 2009 and is expected to rise 1.38 percent to 1.232 billion in 2011. Forecasts for 2015 predict that India’s population will rise to 1.299 billion, growing about 1.5 percent per year between 2010 and 2015.

Since 2010, India’s unemployment rate is around 10 percent and rising inflation rates have officials concerned. While the country is diverse, with good employment opportunities, it still faces major challenges in its population. For instance, 25 percent of the population live in poverty, and new births are occurring at an alarming rate - making India's population tough to control.

India Inflation Rate & Current Account Balance Forecast

India’s inflation rate in 2010 was 8.608 percent, down 42.48 percent from 2009 and is expected to decrease 33.95 percent to 5.69 percent in 2011. Forecasts for 2015 predict India’s inflation rate will decrease to 4 percent.

India’s current account balance in 2010 was US$ -44.093 billion, increasing 23.61 percent from the previous year and is expected to rise 13.08 percent to US$-49.86 billion in 2011. Forecasts for 2015 predict India’s current account balance to increase to US$ -53.488 billion. 


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