Asian Development Bank and India: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on India as well as concise information on ADB's operations in the country and contact information. Mainly as a result of the economic reforms initiated in 1991, India’s long-term trend rate of growth increased from 3.6% during the 1950s–1970s, to 5.2% in the 1980s, 6.1% in the 1990s, and to more than 9% during fiscal year (FY)2005–FY2007. Like other emerging economies, India was affected by the turmoil and uncertainty gripping global financial markets and the world economy since the second half of 2008. Growth rates declined to 6.7% in FY2008, as compared to 9.2% in FY2007 and 9.7% in FY2006. The Government of India took several prompt monetary and fiscal measures to enhance demand, boost credit flows, and lower interest rates to counter the slowdown. Some early indicators suggest that the government’s stimulus package has been effective in reviving growth.