Nominal GDP for India was $3,986bn in 2024, up from $3,576bn in 2023. The Indian population was estimated at 1.45bn in 2024 according to the IMF, while the United States is India’s biggest trading partner.
Variables Surveyed for India
Variables covered in our monthly analysis of India include:
- Gross Domestic Product
- Gross Fixed Investment
- Industrial Production
- Consumer Prices
- Wholesale Prices
- Money Supply
- Merchandise Exports
- Merchandise Imports
- Trade Balance
- Current Account Balance
- Gross Central Govt Fiscal Balance
- Interest Rates
- Rupee Currency Forecasts
Consensus Forecasts for India
Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. in the PDF publication, we also show selected “comparison forecasters” including the Asian Development Bank, IMF and OECD. The example below is an illustrative historical survey snapshot from September 2022, showing how individual forecasts and the consensus are presented.
Source: Asia Pacific Consensus Forecasts, September 2022
Special Surveys
In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for India on topics such as:- Quarterly Forecasts
- Long-Term 5 and 10 Year Forecasts
- Economic Policy Evaluation
- Real Interest Rates and Foreign Direct Investment
- Forecast Probabilities
- Forecasts of Trade and Current Account Balances
Main Data Sources for India
- Ministry of Statistics and Programme Implementation: The Ministry of Statistics and Programme Implementation came into existence as an Independent Ministry on 15.10.1999 after the merger of the Department of Statistics and the Department of Programme Implementatation. This ministry is the nodal agency for the planned and organized development of the statistical system in the country and coordination of statistical activities among different stakeholders in Government of India, State Governments as well as meeting requirements of the International Agencies.
- Reserve Bank of India: The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system.
Comprehensive Forecasts Coverage
Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at editors@consensuseconomics.com should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.Explore forecasts across Asia Pacific
Alongside this country forecast, explore the other economies covered by our Asia Pacific forecast publication.