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India Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about India including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
India, officially the Republic of India, is world’s 5th largest economy by nominal GDP, 3rd largest by purchasing power parity (PPP) per capita GDP, 7th largest country by area, the second-most populous country, and the biggest democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the south-west, and the Bay of Bengal on the south-east, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north-east; and Burma and Bangladesh to the east. In the Indian Ocean, India has of Sri Lanka and the Maldives as neighbors. India also shares a maritime border with Thailand and Indonesia due to their proximity with Andaman and Nicobar Islands in Bay of Bengal.
India is estimated to have population of 1419.66 million in the year 2023 and expected to reach 1469.34 million by 2027, increasing at a CAGR of 0.86%.
India’s real gross domestic product (GDP) was INR 135584.7 billion in 2020 and while recovering from the COVID-19 impact it increased by 7.99% to be around INR 147355.2 billion in 2021. It is further expected to increase by 6.53% and reach INR 215392.74 billion by 2027.
India’s unemployment rate was 10.2% of total labor force in 2020. Despite slowdown in global economic activity due to COVID-19 pandemic, the unemployment in India decreased by 32.47% and reached 7.7% in 2021. Unemployment is further estimated to decrease by a CAGR of 4.14% and reach 8.35% of total labor force in India by 2023.
India’s per capita GDP was estimated at USD 2,465.87 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 8,293.2 for the year 2022.
In 2022, India government’s revenue was INR 52,022.6 billion whereas the expenditure was INR 79,038.86 billion. This resulted in India government’s net lending / borrowing negative at INR 27,016.26 billion in 2022 indicating that not enough financial resources were made available by the India government to boost economic growth.
The current account balance for India was estimated to be negative at USD 120.569 billion for the year 2022 and is expected to further decrease at a CAGR of 3.12% and reach negative USD 140.605 billion by 2027. This negative current account balance indicates that India will remain a net borrower from rest of the world till 2027.
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