India
Capital New Delhi · Currency Indian Rupee (INR) · Population 1.43B
India is the fastest-growing major economy, driven by domestic demand, services exports and an expanding manufacturing base. The RBI keeps a cautious stance as inflation tracks within target while external balances remain manageable.
Economic momentum
Capex-led growth, services exports robust.
Market sentiment
Equities at records; FII flows positive.
Country risk
Key macroeconomic indicators
GDP, USD trillions
AnnualCPI YoY, %
Last 6 monthsCurrency & central bank
- CurrencyIndian Rupee (INR)
- USD/INR83.42 +0.4%
- Central bankReserve Bank of India
- GovernorShaktikanta Das
- Policy stanceNeutral
- Next meetingAug 7, 2026
- Policy rate6.50%
Sovereign ratings
- S&PBBB-
- Moody'sBaa3
- FitchBBB-
- Debt / GDP83%
- 10Y yield6.98%
Local stock market
| Index | Level | YTD |
|---|---|---|
| NIFTY 50 | 24,310 | +11.9% |
| SENSEX | 79,820 | +10.4% |
| NIFTY Bank | 52,140 | +8.6% |
NIFTY at all-time highs after PMI beat; 10Y G-Sec yield drifts lower on FX inflows; INR stable.
Key economic sectors
| Sector | Share of GDP | Trend |
|---|---|---|
| Services | 53% | Expanding |
| Industry | 27% | Expanding |
| Agriculture | 17% | Stable |
| IT & BPO | 8% | Expanding |
| Construction | 9% | Expanding |
Leading companies
| Company | Sector | Market cap |
|---|---|---|
| Reliance Industries | Conglomerate | $240B |
| TCS | IT Services | $170B |
| HDFC Bank | Banking | $155B |
| Infosys | IT Services | $85B |
| ICICI Bank | Banking | $95B |
International trade profile
Latest economic news
- 1 hr agoMintMonetary PolicyRBI holds repo rate, retains neutral stance
- 4 hr agoEconomic TimesMarketsNIFTY closes at fresh record on broad-based gains
- 8 hr agoBloombergTradeServices exports cross USD 350B run-rate
Structured economic intelligence
AI-assisted events with explicit confidence. Not investment advice.
India CPI eases to 4.8% YoY on favorable food base
Headline CPI back inside RBI's tolerance band as vegetable prices normalize; core stable around 3.2%.
RBI holds repo at 6.50%; tone signals durable disinflation
MPC retains a neutral stance with one dissent voting for a cut; growth forecast nudged to 7.3%.
Upcoming economic calendar
| Date | Time | Event | Forecast | Previous | Imp. |
|---|---|---|---|---|---|
| Jul 01 | 06:00 UTC | Manufacturing PMI | 57.4 | 57.5 | ●● |
| Jul 05 | 06:00 UTC | Services PMI | 60.1 | 60.2 | ●● |
| Jul 12 | 06:30 UTC | Industrial Production (YoY) | 5.0% | 5.0% | ●● |
Key risks
AI-Assisted Assessment- Oil price shockMedium
Rising crude widens the current account deficit.
- Monsoon variabilityMedium
Below-normal rainfall would pressure food inflation.
- Global trade slowdownLow
Weaker external demand caps IT-services growth.
Key opportunities
AI-Assisted Assessment- Manufacturing PLI ramp12–24 months
Electronics and semis benefit from production-linked incentives.
- Index inclusion flows6–18 months
Sovereign bond inclusion brings durable FX inflows.
- Infrastructure capex24–36 months
Public capex multiplier supports cement, steel, capital goods.
Twelve-month economic trend
- Jul 25Monetary
RBI keeps repo at 6.50%
- Sep 25Flows
Sovereign bond index inclusion begins
- Dec 25Activity
Manufacturing PMI hits 4-year high
- Feb 26Fiscal
Union Budget extends capex push
- Apr 26Inflation
CPI eases into RBI target band
- Jun 26Monetary
MPC signals durable disinflation