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High growth continues, but still a long way to go
- Although forecasts have been revised downwards, economic growth remains high (8.4%) in 2012
- High consumer prices are the most serious concern, undermining the purchasing power of the poor majority
- The tighter monetary policy to curb inflation has contributed to a growth slowdown in H2 of 2011
- Major structural deficiencies, but only slow reform progress as the current government has been weakened by corruption scandals
- Ample international liquidity and a low level of external debt ensure that India will continue to grow fast in the future
Real GDP growth (%)
Source: EIU / IMF
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General Information
Capital - New Delhi
Government type - Federal republic
Currency - Indian rupee (INR)
Population - 1.2 billion
Status - Lower middle income country
(GDP/capita: US-$ 1,643 in 2011)
Main import sources (2009)
- China - 11.8%
- UAE - 7.4%
- USA - 6.0%
- Saudi Arabia - 5.4%
- Australia - 4.5%
Main export markets (2009)
- UAE - 14.4%
- USA - 10.8%
- China - 5.9%
- Hong Kong - 4.1%
- Singapore - 3.9%
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Date November 2011
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India
