Find out the past and current GDP per capita of India. Know why it's essential and where India ranks in the global economy
The Indian economy has seen it all - from moments of uncertainty in the early 90s to slowdowns and promising surges over the last few years. From an agriculture-driven economy to a global hub for services and manufacturing, India has seen tremendous growth across sectors. But how do we measure the impact of this progress on individual success?Â
This is where Gross Domestic Product (GDP) per capita acts as a key indicator of overall economic growth. India's GDP per capita has shown significant growth in recent years, reaching over $2,310 in 2024. This figure represents approximately 18 percent of the world's average, indicating that while India has made progress, there is still room for improvement compared to global standards.Â
India’s GDP per capita this year is estimated to be $2,940 and is expected to grow to nearly $4,195 by 2029. The country’s economic trajectory is a mix of industrial growth, demographic shifts, and global market influences. Compared to China, which had already reached a GDP per capita of $6,995 in 2013, India still has a long way to go.
In this article, we’ll discuss what GDP per capita is, its current standing, historical data, and what these numbers mean for the Indian economy and its future.Â
GDP per capita provides a clear picture of the country’s income levels and purchasing power. There are two ways to look at this metric: Nominal GDP per capita reflects the economy's size using current prices and exchange rates. GDP per capita, based on purchasing power parity (PPP), accounts for the cost of living, purchases, and other price differences. Together, it helps you to assess how much wealth is distributed among its population. A higher GDP per capita generally indicates better living standards and economic prosperity.Â