India: Adjusted savings, gross savings (% of GNI)

Key figures

What the numbers say

In 2021, India's adjusted savings, gross savings (% of GNI) rose 1.76 percentage points on 2020 (from 28.93% to 30.69%).

Across the 30 yearly changes before that (1991 to 2020), the average change was +0.25 percentage points and a typical year strayed about 1.24 percentage points from that (the standard deviation). This year's change was 1.2 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 2.87 percentage points in 2004 and the biggest yearly fall was 1.76 percentage points in 2019. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 the straight-line trend is downward, about 0.65 percentage points a year. A straight line explains 87% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

A straight-line projection, tested first

Extending that straight line gives about 27.31% for 2024. We show this only because the same method, fitted on earlier years, predicted 2019 to 2021 better than "no change" would have: its average miss was 1.08%, against 1.88% for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2021, India had the 34th highest value of the 132 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to India in the 2021 ranking

• Iraq — 30th of 132: 30.77%
• Türkiye — 31st of 132: 30.76%
• Panama — 32nd of 132: 30.72%
• North Macedonia — 34th of 132: 30.51%
• Belarus — 35th of 132: 30.37%
• Sweden — 36th of 132: 30.34%

What this measures

Gross savings are the difference between gross national income and public and private consumption, plus net current transfers. This indicator is expressed as a percentage of Gross National Income (GNI) which is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad.

Limitations: Because gross savings is calculated as a residual it includes errors, which may not be offsetting, in its components.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 47 values

Adjusted savings, gross savings (% of GNI) in nearby economies

• Bangladesh — 34.25% (2021)
• Bhutan — 14.31% (2021)
• Nepal — 32.5% (2021)
• Sri Lanka — 33.09% (2020)

More economic policy & debt data for India

• Total reserves, including gold (current US$) — US$700.07 billion (2025)
• Total reserves, excluding gold (current US$) — US$576.45 billion (2025)
• General government final consumption expenditure (current US$) — US$426.05 billion (2025)
• General government final consumption expenditure (current LCU) — 37.21 trillion (2025)
• General government final consumption expenditure (constant 2015 US$) — US$341.19 billion (2025)
• General government final consumption expenditure (constant LCU) — 32.99 trillion (2025)
• General government final consumption expenditure (% of GDP) — 10.77% (2025)
• Households and NPISHs final consumption expenditure (current US$) — US$2.24 trillion (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is India's adjusted savings, gross savings (% of GNI)?

30.69% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1975?

It is up 17.55 percentage points from 13.14% in 1975. The highest value was 37.17% in 2007 and the lowest 13.14% in 1975.

Source

World Bank, World Development Indicators, indicator NY.ADJ.ICTR.GN.ZS, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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