BS@50: These 50 data points trace India's journey through past 5 decades

From trade numbers to consumption growth, Business Standard explains India's journey through 50 data points

In 1974-75, the country’s gross domestic product (GDP) stood at Rs 11.5 trillion and has now increased to Rs 173.8 trillion, making India the fifth-largest economy in the world.

The growth in the economy came at a price. As India liberalised its trade policies, its import numbers grew rapidly, leading to the rupee deteriorating against the dollar from 7.95 in 1974-75 to 82.79 in 2024.

The country’s import cover of foreign exchange reserves was 2.9 months in 1974-75 and further dipped during the Gulf War in 1990. However, after recovering from that shock, it currently stands at 11 months.

In terms of sector-wise growth, the country saw the steepest growth in the services sector.

Another significant story is about population growth, which was recorded at 590 million in 1974 and is now estimated to be 1,444 million as India overtakes China to become the most populous country in the world. However, the replacement rate has reduced from 5.33 to 1.96, and the infant mortality rate (infant deaths per 1,000 live births) has declined from 132.3 to 22.6.

According to data from the World Bank, India’s adult literacy rate (% of people aged 15 and above) grew from 40.8 per cent in 1981 to 76.3 per cent in 2022.

During these fifty years, the country started to become a favourite destination for foreign tourists, as the numbers grew from 0.81 million in 1980 to 9.53 million people arriving in Incredible India in 2023-24.

(*This is a selective, not exhaustive, list )