Economy of South Asia

What links here Related changes Page information Get shortened URL
Created by
Last edited September 6, 2023
Economy of South Asia
Statistics
Population2 billion[1][2]
GDP
GDP growth
5.8% (2022 est.)[5]
GDP per capita
  • $2,272 (nominal; 2022)[6]
  • $7,931 (PPP; 2022)[7]
7.2% (2022)[8]
Unemployment7% (2022)[9]
Public finances
78.8% of GDP (2023 est.)[10]
Most numbers are from the International Monetary Fund. IMF South Asia Datasets

All values, unless otherwise stated, are in US dollars.
Development of GDP per capita of economies in South Asia

The economy of South Asia comprises 2 billion people (25% of the world population) living in eight countries (though Afghanistan is sometimes excluded).[11][12] It was historically one of the richest regions in the world, comprising 25% of world GDP as recently as 1700,[13] but experienced significant de-industrialisation and a doubling of extreme poverty during the colonial era of the late 18th to mid-20th century.[14] In the post-colonial era, South Asia has grown significantly, with India advancing because of economic liberalisation from the 1980s onwards,[15] and extreme poverty now below 15% in the region.[16] South Asia has been the fastest-growing region of the world since 2014.[17]

History[edit | edit source]

Main article: Economic history of the Indian subcontinent

Ancient and medieval era[edit | edit source]

This section is an excerpt from Economic history of India[edit]

[[Economic history of India|]]India was the largest economy in the world for most of the next three millennia, starting around the 1st millennia BCE and ending around the beginning of British rule in India.[18]

Around 600 BCE, the Mahajanapadas minted punch-marked silver coins. The period was marked by intensive trade activity and urban development. By 300 BCE, the Maurya Empire had united most of the Indian subcontinent except Tamilakam, which was ruled by Three Crowned Kings. Tamlilakam, under the Three Crowned Kings, had been minting gold coins for several millennia by this period. The resulting political unity and military security allowed for a common economic system and enhanced trade and commerce, with increased agricultural productivity.

The Maurya Empire was followed by classical and early medieval kingdoms, including the Cholas, Pandyas, Cheras, Guptas, Western Gangas, Harsha, Palas, Rashtrakutas and Hoysalas. The Indian subcontinent had the largest economy of any region in the world for most of the interval between the 1st century and 18th century.[19][20][21][22] Up until 1000 CE, its GDP per capita was not much higher than subsistence level.[23]

India experienced per-capita GDP growth in the high medieval era after 1000 CE, during the Delhi Sultanate in the north and Vijayanagara Empire in the south, but was not as productive as Ming China until the 16th century. By the late 17th century, most of the Indian subcontinent had been reunited under the Mughal Empire, which became the largest economy and manufacturing power in the world, producing about a quarter of global GDP, before fragmenting and being conquered over the next century.[24] Bengal Subah, the empire's wealthiest province, that solely accounted for 40% of Dutch imports outside the west,[25] had an advanced, productive agriculture, textile manufacturing and shipbuilding, in a period of proto-industrialization.[26][27][28]

By the 18th century, the Mysoreans had embarked on an ambitious economic development program that established the Kingdom of Mysore as a major economic power. Sivramkrishna analyzing agricultural surveys conducted in Mysore by Francis Buchanan in 1800-1801, arrived at estimates, using "subsistence basket", that aggregated millet income could be almost five times subsistence level.[29] The Maratha Empire also managed an effective administration and tax collection policy throughout the core areas under its control and extracted chauth from vassal states.[30]

Colonial era[edit | edit source]

See also: Economy of India under Company rule
This section is an excerpt from Economy of India under the British Raj[edit]
The role and scale of British imperial policy during the British Raj (1858 to 1947) on India's relative decline in global GDP remains a topic of debate among economists, historians, and politicians. Some commentators argue that the effect of British rule was negative, and that Britain engaged in a policy of deindustrialisation in India for the benefit of British exporters, which left Indians relatively poorer than before British rule. Others argue that Britain's impact on India was either broadly neutral or positive, and that India's declining share of global GDP was due to other factors, such as new mass production technologies or internal ethnic conflict.

Modern era[edit | edit source]

India is the largest economy in the region (US$3.535 trillion) and makes up almost 80% of the South Asian economy; it is the world's 5th largest in nominal terms and 3rd largest by purchasing power adjusted exchange rates (US$11.745 trillion).[31] India is the member of G-20 major economies and BRICS from the region. It is the fastest-growing major economy in the world and one of the world's fastest registering a growth of 7.2% in FY 2022-23.[32]

India is followed by Bangladesh, which has a GDP of ($411 billion) and a GDP per capita of $2,554, which is 4th in the region above India and Pakistan. It has the fastest GDP growth rate in Asia. It is one of the emerging and growth-leading economies of the world, and is also listed among the Next Eleven countries. It is also one of the fastest-growing middle-income countries. It has the world's 33rd largest GDP in nominal terms and is the 27th largest by purchasing power adjusted exchange rates ($1.015 trillion). Bangladesh's economic growth was 6.4% in 2022.[33] Pakistan has an economy of ($314 billion) and ranks 5th in GDP per capita in the region.[34] Next is Sri Lanka, which has the 2nd highest GDP per capita and the 4th largest economy in the region.

Certain parts of South Asia are significantly wealthier than others; the four Indian states of Maharashtra, Tamil Nadu, Gujarat and Karnataka are projected to account for almost 50% of India's GDP by 2030, while the five South Indian states comprising 20% of India's population are expected to contribute 35% of India's GDP by 2030.[35]

The major stock exchanges in the region are Bombay Stock Exchange (BSE) with market Capitalization of $3.5 trillion (10th largest in the world), National Stock Exchange of India (NSE) with market capitalization of $3.55 trillion (9th largest in the world), Dhaka Stock Exchange (DSE), Colombo Stock Exchange (CSE), and Pakistan Stock Exchange (PSX) with market capitalization of $72 billion. Economic data is sourced from the International Monetary Fund, current as of April 2017, and is given in US dollars.[36]

India is home to the Indian Premier League, which is the second-most valued sports league in the world on a per-match basis.[37]

Country

[38][39][40]

GDP Inflation

(2022)[41]

HDI
Nominal GDP(in millions) (2022) (%Share)[42] GDP per capita

(2022)[43]

GDP (PPP)(in millions) (2022) (%Share) GDP (PPP) per capita (2022) GDP growth

(2022)[44]

HDI

(2019)[45]

Inequality-adjusted HDI (2019)[46]
File:Flag of Afghanistan.svg Afghanistan[47] $20,136 (2020) $611 (2020) $80,912 (2020) $2,456 (2020) -2.4% (2020) 5.6% (2020) Increase0.478 (low) No data
 Bangladesh $460,751 (10.41%) $2,734 $1,345,646 (8.97%) $7,985 7.2% 6.1% Increase0.661 (medium) Increase0.465 (low)
 Bhutan $2,707 (0.06%) $3,562 $9,937 (0.07%) $13,077 4.0% 7.7% Increase0.666 (medium) Increase0.450 (low)
 India $3,468,566 (78.35%) $2,466 $11,665,490 (77.74%) $8,293 6.8% 6.9% Increase0.633 (medium) Increase0.538 (low)
 Maldives $5,900 (0.13%) $15,097 $12,071 (0.08%) $30,888 8.7% 4.3% Increase0.747 (high) Increase0.568 (medium)
   Nepal $39,028 (0.88%) $1,293 $141,161 (0.94%) $4,677 4.2% 6.3% Increase0.602 (medium) Increase0.430 (low)
 Pakistan $376,493 (8.50%) $1,658 $1,512,476 (10.08%) $6,662 6.0% 12.10% Increase0.544 (low) Increase0.386 (low)
 Sri Lanka $73,739 (1.67%) $3,293 $318,690 (2.12%) $14,230 -8.7% 48.2% Increase0.782 (high) Increase0.686 (medium)
South Asia[48] $4,427,184 (100%) $2,385 $15,005,471 (100%) $8,085 6.4% 8.1% Increase0.639 (medium) -

Poverty[edit | edit source]

See also: Poverty in India, Poverty in Pakistan, and Poverty in Bangladesh

Poverty rates vary greatly throughout the region, with a majority of Afghanistan relying on humanitarian aid,[49] and 40% of Sri Lankans slipping into poverty due to the economic crisis that started in 2019.[50]

Country

[51][52][53]

Population below poverty line (at $1.9/day) Global Hunger Index (2021)[54] Population under-nourished (2015)[55] Life expectancy (2019)[56] (global rank) Global wealth report (2019)[57][58][59]
World Bank[60] (year) 2022 Multidimensional Poverty Index Report (MPI source year)[61] Population in Extreme poverty (2022)[62] CIA Factbook (2015)[63] Total national wealth in billion USD (global rank) Wealth per adult in USD Median wealth per adult in USD (global rank)
File:Flag of Afghanistan.svg Afghanistan 54.5% (2016) 55.91% (2015–16) 18% 36% 28.3 (103rd) 26.8% 63.2 (160th) 25 (116th) 1,463 640 (156th)
 Bangladesh 24.3% (2016) 24.64% (2019) 4% 31.5% 19.1 (76th) 16.4% 74.3 (82nd) 697 (44th) 6,643 2,787 (117th)
 Bhutan 8.2% (2017) 37.34% (2010) 4% 12% No data No data 73.1 (99th) No Data No Data No Data
 India 21.9% (2011) 16.4% (2019-21) 3% 29.8% 27.5 (101st) 15.2% 70.8 (117th) 12,614 (7th) 14,569 3,042 (115th)
 Maldives 8.2% (2016) 0.77% (2016–17) 4% 16% No data 5.2% 79.6 (33rd) 7 (142nd) 23,297 8,555 (74th)
   Nepal 25.2% (2010) 17.50% (2019) 8% 25.2% 19.1 (76th) 7.8% 70.9 (116th) 68 (94th) 3,870 1,510 (136th)
 Pakistan 24.3% (2015) 38.33% (2017–18) 5% 12.4% 24.7 (94th) 22% 69.3 (144th) 465 (49th) 4,096 1,766 (128th)
 Sri Lanka 4.1% (2016) 2.92% (2016) 5% 8.9% 16 (65th) 22% 76.9 (54th) 297 (60th) 20,628 8,283 (77th)

India[edit | edit source]

This section is an excerpt from Economy of India[edit]
Mumbai, the financial capital of India[64][65]

India has a developing market-oriented economy with substantial state participation in strategic sectors.[66] It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP) as of April 2026.[67][68] On a per capita income basis, the nation is ranked 149th by nominal GDP and 119th by PPP-adjusted GDP as of 2026. From independence in 1947 until 1991, economic development was characterized by protectionist economic policies, with extensive state intervention, demand-side economics, natural resource optimization, and regulation. An acute balance of payments crisis in 1991 led to the adoption of broad economic liberalisation in India and indicative planning.

Nearly 70% of India's GDP is driven by domestic consumption, with the nation consistently the world's third-largest consumer market. As of 2025, the service sector accounts for around 55% of GDP.[69] Aside from private consumption, India's GDP is fueled by government spending, investments, and exports.[70] As of 2025, India is the world's 7th-largest importer and the 10th-largest exporter.[71] India is often described as the "pharmacy of the world", supplying around one-fifth of global demand for pharmaceuticals to over 200 countries.[72][73] India is the largest vaccine manufacturer globally by volume, accounting for over 60% of the world's production.[74] India is the world's fifth-largest manufacturer, representing 3.2% of global manufacturing output.[75] India's digital economy was estimated to be 11.7% of GDP, with its total value expected to surpass US$1 trillion by 2029.[76][77] Nearly 63% of India's population lives in rural areas, and generates about 46% of Indian GDP.[78][79]

India has been a member of the World Trade Organization (WTO) since 1995.[80] It ranks 41st on the Global Competitiveness Index and 39th in the Global Innovation Index.[81][82] As of 2025, India ranks third in the world in total number of billionaires.[83] India's Gini coefficient fell to 25.5 by 2023, making it the fourth-most equal country globally, suggesting significant progress in income equality.[84][85] Economists and social scientists often consider India a welfare state.[86][87] India's overall social welfare spending stood at 8.6% of GDP in 2022.[88] It has two of the world's ten largest stock exchanges. India has free-trade agreements with many world nations, including the European Union, and is a member of numerous economic organisations. India is a lower-middle income country with much of its modern economic development focused on improving standards of living for its population, which has been the largest in the world since the mid-2020s. The accuracy of Indian economic and inflation data has been challenged by the IMF for not suitably incorporating the informal sector and consumption.[89]

Bangladesh[edit | edit source]

Page 'Economy of Bangladesh' not found

Pakistan[edit | edit source]

This section is an excerpt from Economy of Pakistan[edit]

The economy of Pakistan is classified as a developing economy. It is the 26th-largest economy by GDP (PPP) and the 41st-largest in terms of nominal GDP in the world. In terms of per capita income, the country ranks 161st by GDP (nominal) and 142nd by GDP (PPP), according to the International Monetary Fund (IMF) in 2025.[90]

In its early years, the economy of Pakistan relied heavily on private industries. The nationalization of a significant portion of the sector, including financial services, manufacturing, and transportation, began in the early 1970s under Zulfikar Ali Bhutto. During the regime of Zia-ul Haq in the 1980s, an Islamic model of economy was adopted, outlawing economic practices forbidden in Sharīʿah. The economy started privatizing again in the 1990s. Pakistan was classified as a semi-industrial economy for the first time in the late 1990s, albeit an underdeveloped country with a heavy dependence on agriculture, particularly the textile industry relying on cotton production.

Pakistan is presently recovering from a major economic crisis and undergoing economic liberalization, including the privatization of all government corporations, aimed at attracting foreign investment and reducing budget deficits. As of 11 February 2026, the Governor of the State Bank of Pakistan stated that the economy was projected to grow between 3.75% and 4.75% in fiscal year 2026, exceeding a recent IMF forecast. The central bank kept its policy rate at 10.5% following earlier reductions, and projected the current account deficit to remain within 0–1% of GDP, while emphasizing the need for continued structural reforms to sustain growth.

The economic growth centers in Pakistan are located along the Indus River; these include the diversified economies of Karachi and major urban centers in Punjab (such as Faisalabad, Lahore, Sialkot, Rawalpindi, and Gujranwala), alongside less developed areas in other parts of the country. In recent decades, regional connectivity initiatives such as the China-Pakistan Economic Corridor (CPEC) have emerged as pivotal contributors to infrastructure and energy development, with long-term implications for economic stability. Primary export commodities include textiles, leather goods, sports equipment, chemicals, and carpets/rugs.

Afghanistan[edit | edit source]

Page 'Economy of Afghanistan' not found

Bhutan[edit | edit source]

Page 'Economy of Bhutan' not found

Maldives[edit | edit source]

Page 'Economy of Maldives' not found

Nepal[edit | edit source]

Page 'Economy of Nepal' not found

Sri Lanka[edit | edit source]

Page 'Economy of Sri Lanka' not found

See also[edit | edit source]

References[edit | edit source]

  1. ↑ ""World Population prospects – Population division"". population.un.org. United Nations Department of Economic and Social Affairs, Population Division. Retrieved November 9, 2019.
  2. ↑ ""Overall total population" – World Population Prospects: The 2019 Revision" (xslx). population.un.org (custom data acquired via website). United Nations Department of Economic and Social Affairs, Population Division. Retrieved November 9, 2019.
  3. ↑ "World Bank Open Data". World Bank Open Data. Retrieved 2023-09-04.
  4. ↑ "World Bank Open Data". World Bank Open Data. Retrieved 2023-09-04.
  5. ↑ "Overview". World Bank. Retrieved 2023-09-04.
  6. ↑ "World Bank Open Data". World Bank Open Data. Retrieved 2023-09-04.
  7. ↑ "World Bank Open Data". World Bank Open Data. Retrieved 2023-09-04.
  8. ↑ "World Bank Open Data". World Bank Open Data. Retrieved 2023-09-04.
  9. ↑ "World Bank Open Data". World Bank Open Data. Retrieved 2023-09-04.
  10. ↑ "World Bank Open Data". World Bank Open Data. Retrieved 2023-09-04.
  11. ↑ Slater, Joanna; Masih, Niha. "Home to nearly 2 billion people, South Asia could be the next coronavirus hot spot". Washington Post. ISSN 0190-8286. Retrieved 2023-09-04.
  12. ↑ Hanif, Melanie. "Indian Involvement in Afghanistan in the Context of the South Asian Security System". Journal of Strategic Security. 3 (2): 13–26. ISSN 1944-0464.
  13. ↑ Chakravarty, Capital Account | Manas (2010-08-25). "World history by per capita GDP". mint. Retrieved 2023-09-04.
  14. ↑ Hickel, Dylan Sullivan,Jason. "How British colonialism killed 100 million Indians in 40 years". www.aljazeera.com. Retrieved 2023-09-04.{{cite web}}: CS1 maint: multiple names: authors list (link)
  15. ↑ "25 years of liberalisation: A glimpse of India's growth in 14 charts-Business News , Firstpost". Firstpost. Retrieved 2023-09-04.
  16. ↑ South Asia https://databankfiles.worldbank.org/
  17. ↑ "How South Asia can continue as world's fastest growing subregion - Lei Lei Song". Asian Development Bank. Retrieved 2023-09-04.
  18. ↑ Paul Bairoch (1995). Economics and World History: Myths and Paradoxes. University of Chicago Press. p. 95. ISBN 978-0-226-03463-8.
  19. ↑ Maddison, Angus (2007). Contours of the World Economy 1–2030 AD: Essays in Macro-Economic History. Oxford University Press. p. 379. ISBN 978-0-191-64758-1.
  20. ↑ Maddison, Angus (2003): Development Centre Studies The World Economy Historical Statistics: Historical Statistics, OECD Publishing, ISBN 9264104143, p. 261
  21. ↑ Paul Bairoch (1995). Economics and World History: Myths and Paradoxes. University of Chicago Press. p. 95. ISBN 978-0-226-03463-8.
  22. ↑ "Power of Data Visualisation".
  23. ↑ Angus Maddison (2007). The World Economy Volume 1: A Millennial Perspective Volume 2: Historical Statistics. Academic Foundation. p. 260. ISBN 9788171886135.
  24. ↑ "The World Economy (GDP) : Historical Statistics by Professor Angus Maddison" (PDF). World Economy. Retrieved 21 May 2013.
  25. ↑ Om Prakash, "Empire, Mughal", History of World Trade Since 1450, edited by John J. McCusker, vol. 1, Macmillan Reference US, 2006, pp. 237–40, World History in Context, accessed 3 August 2017
  26. ↑ József Böröcz (2009-09-10). The European Union and Global Social Change. Routledge. p. 21. ISBN 9781135255800. Retrieved 26 June 2017.
  27. ↑ Ishat Pandey (2017). The Sketch of The Mughal Empire. Lulu Publishers. ISBN 9780359221202.
  28. ↑ Sanjay Subrahmanyam (1998). Money and the Market in India, 1100–1700. Oxford University Press. ISBN 9780521257589.
  29. ↑ Parthasarathi, Prasannan (2011), Why Europe Grew Rich and Asia Did Not: Global Economic Divergence, 1600–1850, Cambridge University Press, p. 45, ISBN 978-1-139-49889-0
  30. ↑ S. A. A. Rizvi, p. 263 of A Cultural History of India (1975), edited by A. L. Basham
  31. ↑ "Report for Selected Countries and Subjects". imf.org. IMF. Outlook Database, October 2018
  32. ↑ Dhoot, Vikas. "India's GDP expanded 6.1% in 2022-23's last quarter". The Hindu. ISSN 0971-751X. Retrieved 2023-09-01.
  33. ↑ Ventura, Luca. "Global Finance Magazine - Countries with Highest GDP Growth 2022". Global Finance Magazine. Retrieved 2023-09-01.
  34. ↑ "Welcome to WorldBank Group". World Bank. Archived from the original on 16 August 2010. Retrieved 23 August 2010.
  35. ↑ "Southern states to contribute 35% of India's $7 trillion economy by 2030". The Times of India. ISSN 0971-8257. Retrieved 2023-09-06.
  36. ↑ "Report for Selected Countries and Subjects". www.imf.org. Archived from the original on 10 October 2017. Retrieved 7 November 2017.
  37. ↑ Lavalette, Tristan. "Indian Premier League's Jaw-Dropping $6 Billion Broadcast Deal Will Have Major Ramifications In Cricket". Forbes. Retrieved 2023-09-04.
  38. ↑ "Field Listing :: Names". CIA. Archived from the original on 1 July 2017. Retrieved 28 July 2011.
  39. ↑ "UNGEGN List of Country Names" (PDF). United Nations Group of Experts on Geographical Names. 2007. Archived (PDF) from the original on 28 July 2011. Retrieved 28 July 2011.
  40. ↑ "List of countries, territories and currencies". Europa. Archived from the original on 7 August 2011. Retrieved 10 August 2011.
  41. ↑ "World Economic Outlook (October 2022) – Inflation rate, average consumer prices". IMF. Retrieved 28 November 2022.
  42. ↑ "World Economic Outlook – GDP current prices, in billions of dollars". International Monetary Fund. Retrieved 28 November 2022.
  43. ↑ "World Economic Outlook – GDP current prices, per capita". International Monetary Fund. Retrieved 28 November 2022.
  44. ↑ "World Economic Outlook (October 2022) – Real GDP growth". IMF.
  45. ↑ Human Development Report 2020 The Next Frontier: Human Development and the Anthropocene (PDF). United Nations Development Programme. pp. 343–346. ISBN 978-9-211-26442-5. Archived (PDF) from the original on 15 December 2020. Retrieved 15 December 2020.
  46. ↑ "Inequality-adjusted HDI (IHDI)". hdr.undp.org. UNDP. Retrieved 23 September 2020.
  47. ↑ Last update for Afghanistan from the World Economic Outlook is for 2020. Later years are unavailable.
  48. ↑ Individual country percentages may not add up to 100% due to rounding. Afghanistan not included in 2022 totals due to year mismatch. World Economic Outlook also does not count Afghanistan in the South Asia subtotals.
  49. ↑ "Afghanistan: An entire population pushed into poverty | International Rescue Committee (IRC)". www.rescue.org. Retrieved 2023-09-04.
  50. ↑ "Over 9 Million Sri Lankans Have Slipped Into Poverty Since January, Finds Study". The Wire. Retrieved 2023-09-04.
  51. ↑ "Field Listing :: Names". CIA. Archived from the original on 1 July 2017. Retrieved 28 July 2011.
  52. ↑ "UNGEGN List of Country Names" (PDF). United Nations Group of Experts on Geographical Names. 2007. Archived (PDF) from the original on 28 July 2011. Retrieved 28 July 2011.
  53. ↑ "List of countries, territories and currencies". Europa. Archived from the original on 7 August 2011. Retrieved 10 August 2011.
  54. ↑ "Global Hunger Index Scores by 2021 GHI Rank". www.globalhungerindex.org. Archived from the original on 25 February 2022. Retrieved 2 March 2022.
  55. ↑ "UN" (PDF). Archived (PDF) from the original on 24 September 2015. Retrieved 3 June 2015.
  56. ↑ "GHO | by category | Life expectancy and Healthy life expectancy - Data by country". apps.who.int. Archived from the original on 5 January 2022. Retrieved 2 March 2022.
  57. ↑ "Global wealth report". www.credit-suisse.com. Credit Suisse. Retrieved 25 October 2019.
  58. ↑ "Global wealth report 2019" (PDF). Credit Suisse. Retrieved 25 October 2019.
  59. ↑ "Global wealth databook 2019" (PDF). Credit Suisse. Archived from the original (PDF) on 23 October 2019. Retrieved 25 October 2019.
  60. ↑ "Poverty headcount ratio at national poverty lines (% of population) | Data". data.worldbank.org. Retrieved 26 August 2017.
  61. ↑ Nations, United. 2022 Global Multidimensional Poverty Index (MPI) (Report). United Nations.
  62. ↑ "World Poverty Clock". worldpoverty.io. Retrieved 27 February 2022.
  63. ↑ "The World Factbook — Central Intelligence Agency". www.cia.gov. Archived from the original on 9 November 2015. Retrieved 23 August 2016.
  64. ↑ "Information About Maharashtra, Industries, Economy, Exports of Maharashtra". India Brand Equity Foundation. Archived from the original on 4 August 2016. Retrieved 12 April 2014.
  65. ↑ Sudalaimuthu, S.; Raj, S. A. (2009). Logistics Management for International Business: Text and Cases. PHI Learning. ISBN 9788120337923.
  66. ↑
  67. ↑ "India Datasets". International Monetary Fund. Retrieved 15 April 2026.
  68. ↑ Sawhney, Anoushka (2026-04-14). "IMF raises India's growth forecast to 6.5% for FY27". The Economic Times. ISSN 0013-0389. Retrieved 2026-04-15.
  69. ↑ Briefing, India (2025-11-11). "Services Sector in India: Investment Guide FY 2025-26". India Briefing News. Retrieved 2025-11-17.
  70. ↑ "Is your debt dragging the economy down?". The Times of India. 11 September 2019. Archived from the original on 8 July 2022. Retrieved 11 September 2019.
  71. ↑ "Exports Comparison - The World Factbook". www.cia.gov. Archived from the original on 8 January 2021. Retrieved 2025-11-17.
  72. ↑ www.ETManufacturing.in. "India's pharma exports continue to grow at brisk pace". ETManufacturing.in. Retrieved 2025-11-18.
  73. ↑ "Indian pharma rises to global prominence led by export boom and better compliance rates, McKinsey report reveals". The Financial Express. 2025-02-27. Retrieved 2025-11-18.
  74. ↑ "India's vaccine manufacturing prowess". www.investindia.gov.in. Retrieved 2026-01-20.
  75. ↑ "World Bank Open Data". World Bank Open Data. Retrieved 2025-11-17.
  76. ↑ www.ETRetail.com. "India's digital economy to contribute one-fifth of national income by 2029-30: MeitY". ETRetail.com. Retrieved 2025-11-28.
  77. ↑ "MeitY Releases "Estimation and Measurement of India's Digital Economy" Report – GKToday". www.gktoday.in. Retrieved 2025-11-28.
  78. ↑ "Primed to soar". The Week. Retrieved 2025-11-17.
  79. ↑ Lenka, Trinath (2025-01-20). "Investing In Rural India's Evolving Growth Story". Outlook India. Retrieved 2025-11-17.
  80. ↑ "India – Member information". WTO. Archived from the original on 21 May 2022. Retrieved 5 September 2019.
  81. ↑ "GII Innovation Ecosystems & Data Explorer 2025". WIPO.int. Retrieved 2026-01-29.
  82. ↑ "World Competitiveness Ranking 2025: Switzerland Retains First Spot, India Is At..." www.ndtv.com. Archived from the original on 3 September 2025. Retrieved 2026-01-29.
  83. ↑ Peterson-Withorn, Chase. "Forbes Billionaires List 2025: World's Wealthiest Now Worth More Than Nearly All Nations' GDPs". Forbes. Retrieved 2025-11-17.
  84. ↑ "Gini Index coefficient - distribution of family income Comparison - The World Factbook". www.cia.gov. Archived from the original on 4 February 2021. Retrieved 2025-11-18.
  85. ↑ "India ranks as the world's 4th most equal society, says World Bank report - BusinessToday". Business Today. 2025-07-05. Retrieved 2025-11-17.
  86. ↑ Kapur, D. and Nangia, P. (2015) 'Social Protection in India: A Welfare State Sans Public Goods?', India Review, 14(1), pp. 73–90. doi:10.1080/14736489.2015.1001275.
  87. ↑ Aspalter, Christian, The State and the Making of the Welfare System in India (14 December 2010). Journal of National Development, Vol. 3, No. 1, pp. 149-79, 2003, Available at Template:SSRN
  88. ↑ Government's spending on Social Services increased significantly during the pandemic Archived 7 November 2022 at the Wayback Machine Press Information Bureau. Government of India, Ministry of Finance 31 January 2022. Retrieved 29 November 2022.
  89. ↑ Raghavan, T.C.A. Sharad (2025-11-27). "IMF gives India a 'C' on its GDP and other national accounts data, the second-lowest grade". The Hindu. Retrieved 2026-03-03.
  90. ↑ "World Economic Outlook database: April 2025". imf.org. Retrieved 2025-10-21.

Template:South Asian topics

Retrieved from "https://en.bharatpedia.org/w/index.php?title=Economy_of_South_Asia&oldid=426282"
Discover more