India Country Profile by Andaman Partners

Country Profiles

India

Profile in Brief

NOTE: This is a brief summary of the full Country Profile, which can be viewed or downloaded at the link below.

India has the world’s largest population and the fourth-largest economy at USD 3.9 trillion, surpassing Japan in 2024, with a real GDP growth rate of 6.5%, the fastest-growing major economy.

India has a total land area of 3.3 million square kilometres.

Government is democratic with a parliamentary system.

Economy at a Glance
GDP Overview (2024)

India’s economy is poised to become the world’s third-largest by 2030 with a GDP exceeding USD 6 trillion. While still relatively low, GDP per capita is gradually rising.

From 5% in 2019, the unemployment rate increased post-COVID-19 to 8% in 2023, and fell back to 4.9% in 2024. India’s currency has been relatively stable compared to its peers.

Central government debt in the last decade peaked during the COVID-19 pandemic and stabilised post-pandemic, reaching 83% of GDP in 2023. Household consumption has trended upwards in recent years.

Trade Profile (2024)

India’s total trade amounted to USD 1.1 trillion in 2024, dominated by two sectors: Minerals, Fuels & Chemicals and Metals, Electronics & Machinery. The country usually has an annual trade deficit; in 2024, imports exceeded exports by USD 264 billion.

Leading export partners (2024): U.S. (USD 79.4 billion), UAE (USD 37.1 billion), Netherlands (USD 24.2 billion).

Leading import partners (2023): China (USD 127 billion), Russia (USD 67.2 billion), UAE (USD 55.7 billion).

To download the full Country Profile, please see the option below.

ANDAMAN PARTNERS supports international business ventures and growth. We help launch global initiatives and accelerate successful expansion across borders. If your business, operations or project requires cross-border support, contact connect@andamanpartners.com.

Download PDF
Share
Back
Media
News & Events
Knowledge
More Media