OECD Economic Surveys: India 2019

Abstract

This Survey was prepared in the Economics Department by Isabelle Joumard and Christine de La Maisonneuve under the supervision of Piritta Sorsa. The survey benefited from the substantial contributions of Christine Arriola, Sebastian Benz, Manuel Bétin, John Drummond, Julien Gourdon, Andrés Fuentes Hutfilter, Sanskruthi Kalyankar, Hildegunn Nordås, Susan Stone and Frank van Tongeren.

Research assistance was carried out by Marnix Dek and Roland Tusz. Assa Fofana formatted the report and made the layout.

The draft OECD Economic Survey of India was discussed at a meeting of the Economic and Development Review Committee on 7 October 2019, with the participation of representatives from the Indian authorities. It was then revised in the light of the discussions.

This Survey is published under the responsibility of the Secretary General of the OECD.

The previous Survey of India was issued in February 2017. Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at http://www.oecd.org/eco/surveys

Basic statistics of India, 2018

(Numbers in parentheses refer to the OECD average)*

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million, 2017)	1 339.2		Population density per km² (2017)	450.4	(37.7)
Under 15 (%, 2017)	27.8	(17.9)	Life expectancy (years, 2017)	68.8	(80.3)
Over 65 (%, 2017)	6.0	(16.8)	Men (2017)	67.3	(77.7)
International migrant stock (% of population, 2015)	0.4	(10.0)	Women (2017)	70.4	(83.0)
Latest 5-year average growth (%)	1.2	(0.6)	Latest general election	May-2019
ECONOMY
Gross domestic product (GDP)			Value added shares (%, 2017)
In current prices (billion USD)	2 719.5		Primary sector	17.2	(2.4)
In current prices (billion INR)	185 689.6		Industry including construction	29.3	(27.3)
Latest 5-year average real growth (%)	7.5	(2.3)	Services	53.5	(70.3)
Per capita (000 USD PPP, 2017)	7.0	(44.8)
GENERAL GOVERNMENT
Per cent of GDP
Expenditure	27.7	(41.2)	Gross financial debt (OECD: 2017)	67.2	(109.6)
Revenue	21.8	(38.2)
EXTERNAL ACCOUNTS
Exchange rate (INR per USD)	68.28		Main exports (% of total merchandise exports)
PPP exchange rate (USA = 1)	18.18		Manufactured goods	25.3
In per cent of GDP			Machinery and transport equipment	17.7
Exports of goods and services	19.6	(56.1)	Chemicals and related products, n.e.s.	15.6
Imports of goods and services	23.3	(52.0)	Main imports (% of total merchandise imports)
Current account balance	-2.4	(0.3)	Mineral fuels, lubricants and related materials	32.5
Net international investment position	-15.5		Machinery and transport equipment	21.4
			Manufactured goods	13.9
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate (aged 15 and over, %)	46.8	(68.4)	Unemployment rate, Labour Force Survey (aged 15 and over, %)	6.0	(5.3)
Men	71.2	(76.0)	Youth (aged 15-24, %)	10.4	(11.1)
Women	22.0	(60.9)	Tertiary educational attainment (aged 25-64, %, 2011, OECD: 2017)	10.6	(36.9)
Participation rate (aged 15 and over, %)	49.8	(59.9)	Gross domestic expenditure on R&D (% of GDP, 2015, OECD: 2016)	0.6	(2.5)
ENVIRONMENT
Total primary energy supply per capita (toe, 2016, OECD: 2017)	0.7	(4.1)	CO2 emissions from fuel combustion per capita (tonnes, 2016)	1.6	(9.0)
Renewables (%, 2016, OECD: 2017)	24.2	(10.2)	Renewable internal freshwater resources per capita (1 000 m³, 2014)	1.1
Exposure to air pollution (more than 10 μg/m³ of PM2.5, % of population, 2017)	99.9	(58.7)
SOCIETY
Income inequality (Gini coefficient, 2011, OECD: 2015)	0.495	(0.315)	Public and private spending (% of GDP)
Relative poverty rate (%, 2011, OECD: 2015)	19.7	(11.8)	Health care (2015, OECD: 2017)	3.9	(8.8)
Median disposable household income (000 USD PPP, 2011, OECD: 2015)	2.5	(23.3)	Pensions (OECD: 2015)	0.9	(8.5)
Share of women in parliament (%)	11.8	(29.7)	Education (public, 2017)	3.1	(4.5)
Net official development assistance (% of GNI, 2017)	0.1	(0.4)

Note: The year is indicated in parenthesis if it deviates from the year in the main title of this table.

* Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 80% of member countries.

Source: Calculations based on data extracted from databases of the following organisations: OECD, CEIC, International Energy Agency, International Labour Organisation, International Monetary Fund, World Bank.