Table 1.1.1Indian Economy Indicators (10 Year Trend)

New Series - (Base year: 2011-12)
Indicators 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21
GDP at Current Prices 8,736,329.00 9,944,013.00 11,233,522.00 12,467,959.00 13,771,874.00 15,362,386.00 17,095,005.00 18,971,237.00 20,339,849.00 19,745,670.00
GDP at Constant Prices 8,736,329.00 9,213,017.00 9,801,370.00 10,527,674.00 11,369,493.00 12,298,327.00 13,179,857.00 13,981,426.00 14,565,951.00 13,512,740.00
GDP Growth Rate (%) - at Current Prices 12.07 13.82 12.97 10.99 10.46 11.55 11.28 10.98 6.99 (2.92)
GDP Growth Rate (%) - at Constant Prices 65.39 5.46 6.39 7.41 8.00 8.17 7.17 6.08 3.47 (7.23)
Overall Industrial Growth (%) 2.90 3.30 4.24 8.07 11.86 8.33 6.06 5.26 (0.11) (9.18)
Services Growth (%) 4.70 14.90 6.89 8.99 8.62 8.12 7.75 6.43 3.78 (7.95)
Exports Growth (%) 25.36 13.80 7.79 1.78 (5.65) 5.01 4.69 12.09 (0.60) (4.38)
Imports Growth (%) 32.40 14.47 (8.15) 0.87 (5.85) 4.38 17.62 8.41 (3.80) (8.01)
Bank Credit Growth (%) 17.00 14.10 13.90 9.00 10.90 8.20 10.00 13.30 6.10 5.60
Bank Deposit Growth (%) 13.50 14.20 14.10 10.70 9.30 15.30 6.20 9.60 8.10 10.86
Gross Domestic Savings (% GDP) 34.60 33.90 32.10 32.24 31.09 30.26 30.51 30.11 31.38 NA
Inflation (WPI- Average) (%) 8.90 6.90 5.20 1.30 (3.7) 1.70 2.90 4.30 1.70 1.30
Average Exchange Rate (Rs/USD) 48.10 54.00 60.40 62.40 66.32 64.84 65.13 69.47 74.35 72.79
Non Life Insurance GDPI in India (Rs in Crores) 58,089.50 69,186.40 77,525.20 84,685.70 96,379.40 128,128.40 150,662.00 169,448.40 188,916.20 198,715.40
GDPI Growth (%) 23.73 19.10 12.05 9.20 13.80 32.94 17.60 12.47 11.50 5.20

Source: RBI Handbook 2020-21
Note: GDP – Gross Domestic Product
GDPI – Gross Direct Premium in India

Figures were recalibrated in the year 2018-19
Figures provided by The RBI are updated with a lag of 12 months



Chart 1.1.1Non-Life Insurance Premium v/s GDP Growth

Source: RBI (Gross Domestic Product)
Council Compilation: Growth in Non-Life Insurance(%)
Secondary Source: Indiastats: Inflation (WPI-Average)(%)

Non-Life Insurance Industry growth during the period 2011-12 to 2020-21 has been continued to outperform the Industrial and Services growth rates.

Chart 1.1.2Non-Life Insurance Premium v/s Overall Industrial & Services Growth

Source: RBI: Overall Industrial Growth (%)
Council Compilation: Growth in Non-Life Insurance (%)
Secondary Source: Indiastats: Services Growth (%)