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The empire's largest economy in 1870 was British India with a 12.15% share of world GDP, followed by the United Kingdom with a 9.03% share. The empire's largest economy in 1913 was the United Kingdom with an 8.22% share of world GDP, followed by British India with a 7.47% share. [20]
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
The coronavirus pandemic led to a recession in the Indian economy. Real GDP per capita grew 39 per cent during 2013–21. For purchasing power parity comparisons, the US dollar is converted at 9.46 rupees. Despite continuous real GDP growth of at least 5% since 2009, the Indian economy was mired in bureaucratic hurdles.
First estimation of India's national income by Dadabhai Naoroji; 1870 India's economy had a 9.2% share of world income under the British Empire. [18] 1900 Under the British Empire, India's share of manufacturing declined to 2% of global industrial output. [12] 1913 India's economy had a 5.4% share of world income under the British Empire. [18] 1930
However, by the end of British rule, India's economy represented a much smaller proportion of global GDP. In 1820, India's GDP was 16% of the global GDP. By 1870, it had fallen to 12%, and by 1947 to 4%. India's per-capita income remained mostly stagnant during the Raj, with most of its GDP growth coming from an expanding population. Per capita ...
This is an alphabetical list of countries by past and projected Gross Domestic Product per capita, based on the Purchasing Power Parity (PPP) methodology, not on official exchange rates.
GDP at market prices [8] [13]; Year Gross domestic product (000,000 rupees) ₹ per USD GDP deflator (index 2011 = 100) Per capita income (as % of USA) 1950: 102,216: 4.79
[8] [1] [11] Among others, India has also experienced an economic boom since the implementation of economic liberalisation in the early 1990s. [ 12 ] The first list includes estimates compiled by the International Monetary Fund 's World Economic Outlook, the second list shows the World Bank 's data, and the third list includes data compiled by ...