India: Gross fixed capital formation, private sector (current LCU)

Key figures

What the numbers say

In 2023, India's gross fixed capital formation, private sector (current LCU) rose 7.2% on 2022 (from 74.96 trillion to 80.37 trillion).

Across the 12 yearly changes before that (2011 to 2022), the average change was +12.7% and a typical year strayed about 13.1% from that (the standard deviation). This year's change was 0.4 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 39.9% in 2011 and the biggest yearly fall was 7.1% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2023 the straight-line trend is upward, about 5.09 trillion a year. A straight line explains 89% 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.

Closest to India in the 2023 ranking

• China — 2nd of 4: 43.34 trillion
• Dominican Republic — 3rd of 4: 1.74 trillion
• Ecuador — 4th of 4: 18.61 billion

What this measures

Private investment covers outlays by the private sector (including private nonprofit agencies) on additions to its fixed domestic assets. 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 current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

All 14 values

Gross fixed capital formation, private sector (current LCU) in nearby economies

• Bangladesh — 12.15 trillion (2025)
• Bhutan — 99.52 billion (2024)
• Nepal — 964.84 billion (2025)

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)

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Questions people ask

What is India's gross fixed capital formation, private sector (current LCU)?

80.37 trillion in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2010?

It is up 317.35% from 19.26 trillion in 2010 (11.62% a year on average, compounded). The highest value was 80.37 trillion in 2023 and the lowest 19.26 trillion in 2010.

Is the latest change in gross fixed capital formation, private sector (current LCU) unusual for India?

In 2023, India's gross fixed capital formation, private sector (current LCU) rose 7.2% on 2022 (from 74.96 trillion to 80.37 trillion). Across the 12 yearly changes before that (2011 to 2022), the average change was +12.7% and a typical year strayed about 13.1% from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NE.GDI.FPRV.CN, 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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