Nominal GDP for India was ₹236.6tn in 2021, down from ₹197.5tn in 2020. The Indian population was estimated at 1.4bn in 2021 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 hard copy and pdf version of the publication, we also show selected “comparison forecasters” including the Asian Development BankIMF and OECD. The table below shows a small example set of forecasts for GDP growth and Consumer Prices (CPI), taken from our survey of September 2022.

Source: Asia Pacific Conensus 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:

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 should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.