Unlocking the growth potential

B1

LOW RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in January 2024.

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GDP USD3385.1bn (World ranking 5, World Bank 2022)
Population 1,417 mn (World ranking 2, World Bank 2021)
Form of state Federal Republic
Head of government Narendra Modi (PM)
Next elections 2024, general
  • Stable democracy, with peaceful changes of government
  • Large internal market, providing some insulation from global business cycle
  • Successful diversification into manufacturing (motor vehicles) and services (including call centres, IT and biotechnology)
  • High annual GDP growth
  • Low external debt relative to earnings, repayment capacity and reserves
  • Favorable demographics
  • Structural weaknesses including inadequate infrastructure and current and fiscal account deficits
  • Financial risk 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

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
United States 17.7%
1
15.7% China
United Arab Emirates 6.9%
2
7.5% United Arab Emirates
Netherlands 4.1%
3
7.1% United States
China 3.3%
4
6.4% Saudi Arabia
Singapore 2.6%
5
5.5% Iraq

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%
2
6.6% Coal, coke and briquettes
Medicinal and pharmaceutical products 4.8%
3
5.0% Gold, non-monetary (excluding gold ores and concentrates)
Organic chemicals 4.5%
4
4.9% Non metallic mineral manufactures, n.e.s.
Road vehicles 4.4%
5
4.4% Telecommunication and sound recording apparatus
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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