India has emerged as the world’s fastest-growing major economy. We expect to become one of the world’s top three economic powers over the next 10-15 years due to the strength of our democracy and strong alliances. India’s economy has long-term development potential due to its youthful population, growing middle class, high savings and investment rates, and global economic connectivity.
The growth in GDP at current pricesduring FY 2021-22 is estimated at 17.6 percent. For FY 2021-22, the nominal GDP is estimated at INR 232.15 trillion (US$3.12 trillion) as against the provisional estimate of GDP for the year 2020-21 of INR 197.46 trillion (US$2.65 trillion).
Nominal GVA at basic prices is estimated at INR 210.37 trillion (US$2.83 trillion) in 2021-22 as against INR 179.15 trillion (US$2.41 trillion) in 2020-21, registering a growth of 17.4 percent.Between April 2000 and June 2021, the Department for Promotion of Industry and Internal Trade (DPIIT) reported FDI equity inflows of $547.2 billion.
Consumer Food Price Index (CFPI) – August 2021 inflation was 3.11 against 3.96 in July.
Combined inflation was 5.30 in August 2021 against 5.59 in July 2021. In August 2021, FPIs invested $2.5 billion in India.