Economic Policy & Debt · India
Yearly data from 1960 to 2025, from the World Bank.
India's gross fixed capital formation (constant 2015 US$) was US$1.15 trillion in 2025, the latest year in the World Bank's World Development Indicators. That is up 90.3% from US$604.43 billion in 2015 (6.65% a year on average, compounded).
| Value | Year | |
|---|---|---|
| Latest | US$1.15 trillion | 2025 |
| Five years earlier | US$738.48 billion | 2020 |
| Ten years earlier | US$604.43 billion | 2015 |
| Highest | US$1.15 trillion | 2025 |
| Lowest | US$20.55 billion | 1960 |
| Average since 2016 | US$872.43 billion | 2016–2025 |
| First recorded | US$20.55 billion | 1960 |
Over five years it is up 55.75% from US$738.48 billion in 2020 (9.27% a year on average, compounded). Since 1960 it is up 5,498% from US$20.55 billion in 1960 (6.39% a year on average, compounded).
In 2025, India's gross fixed capital formation (constant 2015 US$) rose 7.1% on 2024 (from US$1.07 trillion to US$1.15 trillion).
Across the 30 yearly changes before that (1995 to 2024), the average change was +8.2% and a typical year strayed about 6.4% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 22.2% in 2001 and the biggest yearly fall was 7.7% in 1991. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2016 to 2025 the straight-line trend is upward, about US$52.79 billion a year. A straight line explains 93% 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.
Extending that straight line gives about US$1.25 trillion for 2028. We show this only because the same method, fitted on earlier years, predicted 2023 to 2025 better than "no change" would have: its average miss was US$100.91 billion, against US$136.76 billion 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.
In 2025, India had the 1st highest value of the 123 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.
| Value | Year | |
|---|---|---|
| India | US$1.15 trillion | 2025 |
| World | US$23.95 trillion | 2024 |
| South Asia | US$1.29 trillion | 2025 |
| Lower middle income | US$1.97 trillion | 2025 |
Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.
Regional and income-group figures are computed by the World Bank as a gap-filled total.
| Year | Gross fixed capital formation (constant 2015 US$) |
|---|---|
| 2025 | 1,150,204,050,793 |
| 2024 | 1,074,125,919,426 |
| 2023 | 1,009,423,253,896 |
| 2022 | 941,161,453,067 |
| 2021 | 867,868,706,472 |
| 2020 | 738,477,753,556 |
| 2019 | 794,883,609,044 |
| 2018 | 785,871,380,822 |
| 2017 | 706,699,366,178 |
| 2016 | 655,552,238,064 |
| 2015 | 604,427,075,367 |
| 2014 | 567,372,901,989 |
| 2013 | 552,977,528,627 |
| 2012 | 544,473,914,758 |
| 2011 | 518,847,632,199 |
| 2010 | 462,872,670,734 |
| 2009 | 416,829,118,260 |
| 2008 | 387,111,067,148 |
| 2007 | 375,110,021,905 |
| 2006 | 322,456,437,167 |
| 2005 | 283,169,224,039 |
| 2004 | 243,186,386,320 |
| 2003 | 218,194,454,914 |
| 2002 | 207,574,913,684 |
| 2001 | 209,074,720,249 |
| 2000 | 171,105,928,743 |
| 1999 | 174,231,612,235 |
| 1998 | 149,246,040,757 |
| 1997 | 134,919,118,619 |
| 1996 | 123,667,339,708 |
| 1995 | 118,112,446,079 |
| 1994 | 105,344,556,779 |
| 1993 | 99,608,127,916 |
| 1992 | 100,437,906,942 |
| 1991 | 90,811,846,851 |
| 1990 | 98,391,571,851 |
| 1989 | 84,471,021,510 |
| 1988 | 77,689,724,128 |
| 1987 | 75,089,849,878 |
| 1986 | 67,620,333,950 |
| 1985 | 61,736,925,085 |
| 1984 | 59,018,585,879 |
| 1983 | 58,051,099,889 |
| 1982 | 54,085,872,664 |
| 1981 | 51,195,242,723 |
| 1980 | 51,259,917,960 |
| 1979 | 50,067,110,078 |
| 1978 | 50,099,661,174 |
| 1977 | 47,635,917,090 |
| 1976 | 41,960,903,331 |
| 1975 | 37,825,817,651 |
| 1974 | 38,516,926,963 |
| 1973 | 37,090,217,931 |
| 1972 | 38,094,713,477 |
| 1971 | 36,524,931,296 |
| 1970 | 33,085,056,261 |
| 1969 | 35,027,936,810 |
| 1968 | 35,004,082,553 |
| 1967 | 33,228,583,862 |
| 1966 | 31,211,598,522 |
| 1965 | 30,774,020,154 |
| 1964 | 29,815,769,693 |
| 1963 | 27,682,482,049 |
| 1962 | 24,794,105,762 |
| 1961 | 23,265,575,972 |
| 1960 | 20,546,434,620 |
Every indicator for India is on the India data page.
World Bank, World Development Indicators, indicator NE.GDI.FTOT.KD, 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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