The Gross national income of India attained a value of USD 3,871,432.59 million in 2023
The indicator recorded a historical growth (CAGR) of 14% between 2020 to 2023, and is expected to grow by...
GlobalData projects the figure to grow at a CAGR of ...
Gross National Income
Gross National Income (GNI) is GDP less net taxes on production and imports, less compensation of employees and property income payable to the rest of the world plus the corresponding items receivable from the rest of the world (in other words, GDP less primary incomes payable to non-resident units plus primary incomes receivable from non-resident units). An alternative approach to measuring GNI at market prices is as the aggregate value of the balances of gross primary incomes for all sectors.
Gross National Income of India
The gross national income of India attained a value of $1.9 trillion in 2021. The indicator recorded a year-on-year increase of 8.7% in 2021. Between 2018-2021, the indicator recorded a decrease of 3.8%. The gross national income of the country was highest in 2019 and lowest in 2020, between 2018 and 2021.
Global Outlook
The top five countries with the highest gross national income globally in 2021 include the United States, China, Japan, Germany, and the United Kingdom. North Macedonia, Malta, Albania, Botswana, and Bosnia and Herzegovina were among the countries with the lowest gross national income worldwide in 2021.
Factors Affecting the Global Economy
Impact of COVID-19:
More instances have been recorded globally as a result of Omicron, a novel COVID-19 strain, disrupting supply chain management. However, the worldwide vaccination drive has decreased COVID-19 fatalities.
Russia-Ukraine war:
Global economic expansion is hampered by the conflict between Russia and Ukraine. Due to the war, trade and investment have suffered because Russia has been subjected to economic sanctions, and several significant corporations have ceased operations there.
Rising Inflation and Interest Rates:
Due to rising inflation rates in both developing and advanced economies, central banks have been forced to tighten monetary policy and raise interest rates to keep prices from rising. However, a steady increase in interest rates could lead to financial distress in some economies.
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