India: economy

What is India's trade deficit?

India's merchandise trade deficit was US$147.09 billion in April to August 2026, up from US$123.88 billion a year earlier, according to the Ministry of Commerce and Industry, released on 15 September 2026. Including services, where India runs a surplus, the combined trade balance was a deficit of US$60.38 billion over the five months, and US$9.41 billion in August alone.

Merchandise exports in August 2026 were US$43.81 billion and imports US$70.67 billion. The services figures for the latest month are estimates, because the Reserve Bank of India's services data runs one month behind, so they are revised in the next release. The Indian fiscal year runs from April to March.

Official sources: PIB: India's foreign trade, August 2026

How much does India export?

India's total exports of goods and services were estimated at US$399.27 billion in April to August 2026, up 15.55% on US$345.55 billion a year earlier, according to the Ministry of Commerce and Industry. Merchandise exports were US$215.91 billion, and in August 2026 alone total exports were US$82.68 billion.

In August, the largest increases were in electronic goods (up 89.82% to US$5.55 billion), petroleum products and engineering goods. Services exports, such as IT and business services, make up a large share of the total, and the latest month is an estimate until the Reserve Bank of India publishes its services data. Detailed figures by product and partner are in the ministry's TRADESTAT database.

Official sources: PIB: India's foreign trade, August 2026

What is India's industrial production growth?

India's Index of Industrial Production (IIP) rose 8.0% year on year in August 2026, according to the quick estimate from the Ministry of Statistics and Programme Implementation, released on 28 September 2026. Manufacturing grew 9.0% and electricity and gas supply 12.3%.

The IIP uses a new base year of 2022-23, introduced in June 2026, so growth rates are not directly comparable with the old 2011-12 series. Quick estimates are revised in later months as more factories report. MoSPI releases the IIP on the 28th of each month, or the next working day.

Official sources: PIB: Quick Estimates of IIP, August 2026

What is India's current account deficit?

India's current account deficit was US$4.2 billion, or 0.5% of GDP, in April to June 2026, compared with US$3.4 billion (0.4% of GDP) a year earlier, according to the Reserve Bank of India, published on 1 September 2026. The merchandise trade deficit was US$86.1 billion, while net services receipts and remittances offset most of it.

The current account covers trade in goods and services, investment income and transfers such as money sent home by workers abroad. Quarterly balance of payments figures are preliminary and revised later. In its policy statement of 7 October 2026, the RBI said elevated energy prices and trade uncertainty pose upside risks to the deficit in 2026-27.

Official sources: RBI: Developments in India's Balance of Payments, Q1 2026-27 · RBI: Governor's Statement, 7 October 2026

What is the per capita income of India?

India's per capita net national income was ₹2,08,090 in 2025-26 at current prices, up 7.9% on the year before, according to the provisional estimates of the National Statistics Office (MoSPI). At constant prices, which remove inflation, it was ₹1,93,480. Per capita GDP at current prices was ₹2,43,803.

These figures divide national totals by an estimated population of 1,421 million. They are averages, so they say nothing about how income is shared, and they include income that does not reach households, such as company profits. The estimates use the new 2022-23 base year and will be revised in later releases.

Official sources: MoSPI: Press Note on Provisional Estimates of GDP for 2025-26 (PDF)

Is India's economy growing?

According to the World Bank, real GDP growth in India was 7.6% in 2025. Its high point since 2005 was 2021, at 9.7%; its low point was 2020, at -5.8%. South Asia median: 5.6%; India is 2nd highest of 6. World rank, highest first: 13th of 180.

How rich is India per person?

According to the World Bank, GDP per person in India was $2,702 in 2025. That is the highest since at least 2005. Across South Asia the middle value was $3,598, and India placed 4th highest of 6. Worldwide: 138th of 180.

What is India's GDP per person adjusted for prices?

The latest figure from the World Bank, for 2025, is $11,748 in international dollars. No year since 2005 has been higher. It is 4th highest of 6 in South Asia, where the median is $14,406 in international dollars. World rank, highest first: 119th of 179.

How big are India's exports?

According to the World Bank, exports of goods and services in India was 22.3% of GDP in 2025. Its high point since 2005 was 2013, at 25.4% of GDP; its low point was 2019, at 18.7% of GDP. Worldwide: 98th of 133.

Does India have a current account surplus or deficit?

The latest figure from the IMF, for 2025, is -0.5% of GDP, which is a deficit. Since 2005 it has ranged from -5.0% of GDP (2012) to 1.2% of GDP (2020). It is 4th highest of 5 in South Asia, where the median is -0.0% of GDP. World rank, highest first: 63rd of 132.

How much foreign direct investment goes into India?

According to the IMF, net inflows of foreign direct investment in India was 1.0% of GDP in 2025. Its high point since 2005 was 2008, at 3.6% of GDP; its low point was 2024, at 0.7% of GDP. South Asia median: 0.7% of GDP; India is 2nd highest of 6. World rank, highest first: 128th of 179.

What interest rate do banks charge in India?

The IMF puts the average bank lending rate in India at 8.6% in 2022. Its high point since 2005 was 2008, at 13.3%; its low point was 2010, at 8.3%. World rank, highest first: 47th of 96.