Unlocking the growth potential
B1
LOW RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in July 2024.
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GDP | USD3385.1bn (World ranking 5, World Bank 2022) |
Population | 1.417bn (World ranking 1, World Bank 2022) |
Form of state | Federal Republic |
Head of government | Narendra Modi (PM) |
Next elections | 2024, general |
Strengths & Weaknesses
![](/content/onemarketing/aztrade/allianz-trade_com/en_global/economic-research/country-reports/India/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-0-par/wrapper_copy_copy/wrapper/image.img.82.3360.png/1718711333301/plus.png)
- Relatively stable government
- Large internal market, providing some insulation from global business cycle
- Successful diversification into manufacturing and services
- High annual GDP growth
- Low external debt relative to earnings, repayment capacity and reserves
- Favorable demographics
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- Structural weaknesses including inadequate infrastructure and current and fiscal account deficits
- Financial risks to monitor, namely balance sheets of banks and non-bank financial institutions
- Weak structural business environment (slowly improving)
- Poverty and uneven income distribution, low literacy rates and fierce brain drain
- Vulnerable to natural disasters
- India-China relations to remain tense in part due to border disputes
Economic Overview
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
United States
17.7%
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1 |
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United Arab Emirates
6.9%
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2 |
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Netherlands
4.1%
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3 |
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China
3.3%
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4 |
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Singapore
2.6%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
21.4%
|
1 |
25.3%
Petroleum, petroleum products and related materials
|
Non metallic mineral manufactures, n.e.s.
7.1%
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2 |
6.6%
Coal, coke and briquettes
|
Medicinal and pharmaceutical products
4.8%
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3 |
5.0%
Gold, non-monetary (excluding gold ores and concentrates)
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Organic chemicals
4.5%
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4 |
4.9%
Non metallic mineral manufactures, n.e.s.
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Road vehicles
4.4%
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5 |
4.4%
Telecommunication and sound recording apparatus
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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