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Economy of India vs Tajikistan compared: GDP & Debt

Updated on by Georank team

India has a GDP of $3.91T compared to $14.2B for Tajikistan, ranking 5/197 and 145/197 by economy size, respectively.

India has $3.19T in government debt (81.6% of GDP), compared to $3.54B (24.9% of GDP) in Tajikistan.

India vs Tajikistan GDP by year

India
Tajikistan
1x
Year GDP, current $
India Tajikistan
2024 $3,909,891,533,858 $14,204,575,549
2023 $3,638,489,096,034 $12,244,169,293
2022 $3,346,107,287,731 $10,713,525,200
2021 $3,167,270,623,260 $8,937,805,347
2020 $2,674,851,578,587 $8,133,963,551
2019 $2,835,606,256,558 $8,300,813,599
2018 $2,702,929,641,649 $7,764,999,999
2017 $2,651,474,262,755 $7,536,402,853
2016 $2,294,796,885,663 $6,992,416,097
2015 $2,103,588,360,045 $8,271,431,485
2014 $2,039,126,479,155 $9,112,605,459
2013 $1,856,721,507,622 $8,448,411,318
2012 $1,827,637,590,410 $7,633,036,903
2011 $1,823,051,829,895 $6,522,756,255
2010 $1,675,615,519,485 $5,642,221,099
2009 $1,341,888,016,995 $4,979,472,364
2008 $1,198,895,139,006 $5,161,299,725
2007 $1,216,736,438,835 $3,719,524,541
2006 $940,259,888,788 $2,830,213,849
2005 $820,383,763,511 $2,312,352,021
2004 $709,152,728,831 $2,076,176,869
2003 $607,700,687,237 $1,555,318,261
2002 $514,939,140,319 $1,221,106,220
2001 $485,440,139,204 $1,080,772,551
2000 $468,395,521,654 $860,541,842
1999 $458,821,052,616 $1,086,612,290
1998 $421,351,317,225 $1,320,199,582
1997 $415,867,563,593 $921,518,033
1996 $392,896,866,205 $1,043,654,822
1995 $360,281,909,643 $1,231,561,860
1994 $327,274,843,459 $1,522,001,206
1993 $279,295,648,983 $1,646,623,195
1992 $288,208,070,278 $1,908,554,572
1991 $270,105,341,879 $2,536,585,366
1990 $320,979,026,420 $2,629,395,066
1989 $296,042,052,945 -
1988 $296,589,670,896 -
1987 $279,033,584,092 -
1986 $248,985,994,041 -
1985 $232,511,554,840 -
1984 $212,157,645,178 -
1983 $218,262,146,413 -
1982 $200,715,624,831 -
1981 $193,491,368,446 -
1980 $186,328,579,302 -
1979 $152,995,442,498 -
1978 $137,302,319,829 -
1977 $121,486,641,441 -
1976 $102,716,451,980 -
1975 $98,473,832,017 -
1974 $99,526,597,934 -
1973 $85,517,673,173 -
1972 $71,464,700,667 -
1971 $67,351,404,352 -
1970 $62,422,483,055 -
1969 $58,447,995,017 -
1968 $53,085,455,871 -
1967 $50,134,942,204 -
1966 $45,581,230,504 -
1965 $59,556,105,229 -
1964 $56,480,289,941 -
1963 $48,421,923,459 -
1962 $42,161,481,858 -
1961 $39,232,435,784 -
1960 $37,029,883,876 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/india/tajikistan | CC BY

GDP per capita in India vs Tajikistan by year

India
GDP per capita

GDP per capita, PPP
Tajikistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
India Tajikistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,695 $11,160 $1,341 $5,406
2023 $2,530 $10,323 $1,178 $4,964
2022 $2,347 $9,207 $1,052 $4,514
2021 $2,240 $8,050 $897 $3,986
2020 $1,907 $6,966 $834 $3,654
2019 $2,041 $7,151 $871 $3,460
2018 $1,966 $6,715 $834 $3,069
2017 $1,950 $6,145 $829 $3,017
2016 $1,708 $5,800 $789 $2,914
2015 $1,584 $5,425 $957 $2,975
2014 $1,554 $5,192 $1,082 $3,152
2013 $1,433 $5,014 $1,028 $2,919
2012 $1,429 $4,820 $952 $2,679
2011 $1,445 $4,455 $834 $2,456
2010 $1,348 $4,206 $737 $2,291
2009 $1,095 $3,887 $665 $2,171
2008 $993 $3,633 $703 $2,120
2007 $1,022 $3,508 $517 $1,966
2006 $802 $3,221 $401 $1,810
2005 $710 $2,937 $334 $1,673
2004 $624 $2,682 $306 $1,550
2003 $544 $2,461 $233.6 $1,396
2002 $469 $2,277 $187 $1,257
2001 $450 $2,200 $168.7 $1,139
2000 $443 $2,091 $136.9 $1,036
1999 $442 $2,006 $175 $947
1998 $414 $1,852 $213.7 $905
1997 $416 $1,759 $150.1 $855
1996 $401 $1,695 $172 $836
1995 $375 $1,579 $207 $1,006
1994 $348 $1,467 $261.3 $1,148
1993 $303 $1,374 $287.6 $1,454
1992 $319 $1,309 $338 $1,721
1991 $306 $1,239 $458 $2,417
1990 $371 $1,212 $487 $2,583
1989 $350 - - -
1988 $358 - - -
1987 $345 - - -
1986 $315 - - -
1985 $301 - - -
1984 $281 - - -
1983 $296 - - -
1982 $278.7 - - -
1981 $275 - - -
1980 $271.1 - - -
1979 $228 - - -
1978 $209.4 - - -
1977 $189.6 - - -
1976 $164.1 - - -
1975 $161.1 - - -
1974 $166.7 - - -
1973 $146.6 - - -
1972 $125.3 - - -
1971 $120.7 - - -
1970 $114.4 - - -
1969 $109.5 - - -
1968 $101.6 - - -
1967 $98 - - -
1966 $91 - - -
1965 $121.5 - - -
1964 $117.9 - - -
1963 $103.4 - - -
1962 $92.2 - - -
1961 $87.9 - - -
1960 $84.9 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/india/tajikistan | CC BY

India's GDP per capita is $2,695, ranking 143/197, compared to $1,341 in Tajikistan, ranking 166/197. Adjusted for purchasing power (GDP per capita PPP), India ranks 130th at $11,160, while Tajikistan ranks 157th at $5,406.

Economic indicators

India Tajikistan
Gross domestic product
$3.91T
2024
$14.2B
2024
GDP rank
5/197
2024
145/197
2024
GDP growth
6.49%
2023-2024
8.4%
2023-2024
GDP per capita
$2,695
2024
$1,341
2024
GDP per capita rank
143/197
2024
166/197
2024
GDP per capita, PPP
$11,160
2024
$5,406
2024
GDP per capita PPP rank
130/197
2024
157/197
2024
Government debt
$3.19T
2024
$3.54B
2024
Debt-to-GDP ratio
81.6%
2024
24.9%
2024
Government debt per person
$2,200
2024
$335
2024
Government debt per person rank
118/185
2024
175/185
2024
Average annual personal income after taxes
$4,596
2026
$2,591
2026
Market capitalization of domestic companies
$5.13T
2024
n/a
Number of millionaires
917,000
2025
n/a
Number of billionaires
205
2025
n/a
Income share by richest 10%
22.1%
2022
28.2%
2024
Income share by poorest 10%
4.5%
2022
2.9%
2024
Government expenditure, % of GDP
28.4%
2024
27.7%
2024
Consumer prices inflation
4.95%
2023-2024
3.5%
2023-2024
Central bank interest rate
5.25%
2025
7.75%
2025
Unemployment rate
4.17%
2024
0.08%
2016
Population
1480351380
11038274

Spending and national debt comparison by year

India
Spending

Debt
Tajikistan
Spending

Debt
1x
Year % of GDP
India Tajikistan
Government spending Government debt Government spending Government debt
2024 28.4% 81.6% 27.7% 24.9%
2023 27.9% 80.7% 28% 29.9%
2022 29.1% 82.2% 27.4% 31.8%
2021 29.9% 83.5% 27.6% 42%
2020 31% 88.4% 29.2% 50.9%
2019 26.8% 75.1% 28.8% 43.2%
2018 26.3% 70.4% 30.9% 46.3%
2017 26.2% 69.7% 33.8% 46.3%
2016 27.2% 68.9% 32.7% 42.2%
2015 27.1% 69% 31.9% 35%
2014 26.2% 67.1% 27.5% 27.9%
2013 26.6% 67.7% 27.7% 29.3%
2012 27.4% 68% 24.7% 32.5%
2011 27.6% 68.7% 24.3% 35.5%
2010 28% 67.7% 25.9% 36.8%
2009 28.5% 72.7% 23.6% 36.9%
2008 29.3% 74.3% 20.2% 30.2%
2007 26.9% 75.4% 20.3% 34.3%
2006 26.9% 77.9% 21.6% 36.8%
2005 26.9% 82.4% 22.9% 45.8%
2004 28.4% 84.9% 20.2% 49.4%
2003 29.9% 85.9% 19.1% 69.8%
2002 29.1% 84.3% 19.1% 98.3%
2001 28.3% 80.1% 17.3% 99.4%
2000 26.1% 74.9% 18.1% 111.4%
1999 25.8% 71.3% 17.5% 107.8%
1998 26% 69.3% 17.1% 96.6%
1997 25.2% 69% - -
1996 24.4% 67.1% - -
1995 25% 70.9% - -
1994 26.2% 74.8% - -
1993 26.2% 78.3% - -
1992 26.7% 78.8% - -
1991 27.3% 76.7% - -
1990 25.8% 50.8% - -
1989 25.7% 50.5% - -
1988 24.9% 48.9% - -
1987 22.5% 48.9% - -
1986 23.2% 47.9% - -
1985 21.6% 44.3% - -
1984 19.8% 41.6% - -
1983 17.8% 39.6% - -
1982 17.8% 41.7% - -
1981 16.6% 37.2% - -
1980 17.5% 38% - -
1979 15.6% 32.2% - -
1978 15% 30.8% - -
1977 13.9% 29.9% - -
1976 14.4% 31.3% - -
1975 12.7% 29.5% - -
1974 11.3% 29% - -
1973 12.9% 34.1% - -
1972 13.5% 37.2% - -
1971 12.4% 37.6% - -
1970 11.7% 38.1% - -
1969 11.5% 38.8% - -
1968 12.6% 40.3% - -
1967 13.8% 38.5% - -
1966 13.8% 36.2% - -
1965 13.7% 36.8% - -
1964 13.2% 33.8% - -
1963 12.3% 35.5% - -
1962 11.5% 36.2% - -
1961 11.8% 38.7% - -
1960 11.2% 36.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1990, retrieved 2026-02-20).

GeoRank.org/economy/india/tajikistan | CC BY

In 2024, India's government spending was $1.11T, accounting for 28.4% of its GDP, while Tajikistan spent $3.93B, or 27.7% of GDP.

Debt-to-GDP ratio is 81.6% in India and 24.9% in Tajikistan, ranking 43/185 and 166/185, respectively.

Government deficit by year

Deficit/surplus
India

Tajikistan
1x
Year Deficit/surplus, % of GDP
India Tajikistan
2024 -7.9% 0.28%
2023 -7.4% -0.93%
2022 -8.97% -0.23%
2021 -9.45% -0.64%
2020 -12.9% -4.34%
2019 -7.69% -2.04%
2018 -6.34% -2.69%
2017 -6.23% -5.65%
2016 -7.12% -2.91%
2015 -7.21% -1.96%
2014 -7.07% 0.92%
2013 -7% -0.73%
2012 -7.55% 0.41%
2011 -8.35% 0.6%
2010 -8.79% -2.71%
2009 -9.7% -0.2%
2008 -9.17% 1.94%
2007 -4.59% 2.13%
2006 -6.38% 2%
2005 -7.49% -2.83%
2004 -9.22% -2.32%
2003 -11.4% -1.74%
2002 -11.1% -2.4%
2001 -11% -2.11%
2000 -8.41% -4.51%
1999 -8.7% -4.03%
1998 -9.74% -5.09%
1997 -8.28% -
1996 -6.71% -
1995 -6.81% -
1994 -8% -
1993 -8.57% -
1992 -7.89% -
1991 -7.9% -
1990 -8.07% -
1989 -7.68% -
1988 -7.01% -
1987 -9.53% -
1986 -10.6% -
1985 -9.58% -
1984 -8.54% -
1983 -7.28% -
1982 -6.78% -
1981 -6.07% -
1980 -7.27% -
1979 -4.87% -
1978 -4.45% -
1977 -4.1% -
1976 -4.1% -
1975 -3.11% -
1974 -2.3% -
1973 -3.53% -
1972 -3.14% -
1971 -2.9% -
1970 -2.35% -
1969 -2.66% -
1968 -3.98% -
1967 -4.97% -
1966 -4.18% -
1965 -4.49% -
1964 -4.41% -
1963 -4.16% -
1962 -3.3% -
1961 -4.1% -
1960 -4.05% -
1959 -5.29% -
1958 -5.08% -
1957 -3.35% -
1956 -2.93% -
1955 -2.77% -
1954 -2.61% -
1953 -1.83% -
1952 0.03% -
1951 -0.5% -
1950 -1.01% -
1949 -0.73% -
1948 -0.82% -
1947 -0.86% -
1946 -2.89% -
1945 -4.4% -
1944 -3.32% -
1943 -3.48% -
1942 -3.62% -
1941 -0.37% -
1940 -0.59% -
1939 -0.32% -
1938 -0.16% -
1937 -0.1% -
1936 -0.45% -
1935 -0.4% -
1934 -0.09% -
1933 0% -
1932 0.03% -
1931 -0.68% -
1930 -1.02% -
1929 -0.91% -
1928 -0.87% -
1927 -0.98% -
1926 -0.88% -
1925 -0.67% -
1924 -0.3% -
1923 -0.66% -
1922 -1.05% -
1921 -1.45% -
1920 -1.57% -
1919 -1.04% -
1918 -0.48% -
1917 -5.69% -
1916 0.25% -
1915 -0.51% -
1914 -0.98% -
1913 -0.85% -
1912 -0.58% -
1911 -0.42% -
1910 -0.85% -
1909 -0.7% -
1908 -1.25% -
1907 -1.22% -
1906 -0.8% -
1905 -2% -
1904 -0.53% -
1903 -0.56% -
1902 -0.56% -
1901 -0.27% -
1900 -1.06% -
1899 -0.56% -
1898 -0.49% -
1897 -1.02% -
1896 -1% -
1895 -0.41% -
1894 -0.5% -
1893 -0.59% -
1892 -0.56% -
1891 -0.64% -
1890 -0.8% -
1889 -0.45% -
1888 -1.94% -
1887 -1.28% -
1886 -0.75% -
1885 -1.48% -
1884 -1.22% -
1883 -0.81% -
1882 -0.77% -
1881 -0.05% -
1880 -0.69% -
1879 -0.39% -
1878 -0.12% -
1877 -0.84% -
1876 -0.8% -
1875 -0.87% -
1874 -0.15% -
1873 -0.28% -
1872 0.31% -
1871 0.42% -
1870 0.19% -
1869 0.01% -
1868 -0.38% -
1867 -0.12% -
1866 -0.31% -
1865 0.21% -
1864 -0.11% -
1863 -0.06% -
1862 0.15% -
1861 -0.16% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1861–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/india/tajikistan | CC BY

In 2024, India's government deficit, the difference between spending and revenue, was $309B, equivalent to 7.9% of GDP. This compares to Tajikistan's surplus of $39.2M, or 0.28% of GDP.

Over the past 27 years, India recorded a fiscal deficit in 27 of those years, while Tajikistan ran a deficit in 20 years. On average, India posted an annual deficit equal to 8.4% of GDP, compared to deficit of 1.55% of GDP for Tajikistan.

Inflation comparison by year

Inflation
India

Tajikistan
1x
Year Consumer prices inflation
India Tajikistan
2024 4.95% 3.5%
2023 5.65% 3.7%
2022 6.7% 6.6%
2021 5.13% 9%
2020 6.62% 8.6%
2019 3.73% 7.8%
2018 3.94% 3.8%
2017 3.33% 7.3%
2016 4.95% 5.9%
2015 4.91% 5.8%
2014 6.67% 6.1%
2013 10% 5%
2012 9.48% 5.8%
2011 8.91% 12.4%
2010 12% 6.5%
2009 10.9% 6.4%
2008 8.35% 20.4%
2007 6.37% 13.2%
2006 5.8% 10%
2005 4.25% 7.3%
2004 3.77% 7.2%
2003 3.81% 16.4%
2002 4.3% 12.2%
2001 3.78% 38.6%
2000 4.01% 32.9%
1999 4.67% 27.5%
1998 13.2% 43.2%
1997 7.16% 88%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/india/tajikistan | CC BY

Over the past 28 years, India has recorded an average annual inflation rate of 6.33%, compared with 15% in Tajikistan. In 2024, inflation was 4.95% in India and 3.5% in Tajikistan.

Top exports between countries

India
Export category Export value
Chemicals & pharma $34.7M
Machinery & equipment $1.65M
Processed food, beverages & tobacco $1.37M
Textiles & consumer goods $1.15M
Raw agricultural goods $1.05M
Raw materials & minerals $758K
Wood & paper products $120K
Animal & marine products $51K
Metals $12K
Precious metals & jewellery $5K
Tajikistan
Export category Export value
Chemicals & pharma $177K
Machinery & equipment $164K
Raw materials & minerals $103K
Raw agricultural goods $4K
Precious metals & jewellery $3K
Textiles & consumer goods $1K

Balance of trade

India Tajikistan
Current account balance
-$32.1B
2024
$887M
2024
Current account balance ranking
186/190
2024
54/190
2024
Current account balance, % of GDP
-0.82%
2024
+6.24%
2024
Goods imports
$727B
2024
$5.94B
2024
Goods exports
$447B
2024
$1.42B
2024
Service imports
$197B
2024
$971M
2024
Service exports
$375B
2024
$195M
2024
Imports of goods and services, % of GDP
23.5%
2024
48.4%
2023
Exports of goods and services, % of GDP
21.2%
2024
17.2%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

India Tajikistan
Economic freedom 52.5 52.5
Economic freedom ranking 146/197 147/197
Property rights 48.3 28.4
Government integrity 37.8 18.5
Judicial effectiveness 52.6 10.1
Tax burden 71.2 94.2
Government spending 75.7 77
Fiscal health 6.7 98.6
Business freedom 67.4 60.6
Labor freedom 59 43.4
Monetary freedom 70.9 72.6
Trade freedom 61 72.2
Investment freedom 40 25
Financial freedom 40 30

Economic freedom comparison by year

India
Tajikistan
1x
Year Economic freedom index
India Tajikistan
2026 52.5 52.5
2025 53 51.5
2024 52.9 51.3
2023 52.9 50.6
2022 53.9 49.7
2021 56.5 55.2
2020 56.5 52.2
2019 55.2 55.6
2018 54.5 58.3
2017 52.6 58.2
2016 56.2 51.3
2015 54.6 52.7
2014 55.7 52
2013 55.2 53.4
2012 54.6 53.4
2011 54.6 53.5
2010 53.8 53
2009 54.4 54.6
2008 54.1 54.4
2007 53.9 53.6
2006 52.2 52.6
2005 54.2 50.4
2004 51.5 48.7
2003 51.2 46.5
2002 51.2 47.3
2001 49 46.8
2000 47.4 44.8
1999 50.2 41.2
1998 49.7 41.1
1997 49.7 -
1996 47.4 -
1995 45.1 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/india/tajikistan | CC BY

The Economic Freedom Index for India is 52.5, ranking 146/197, compared to 52.5 for Tajikistan, ranking 147/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

India Tajikistan
Services, % of GDP
49.9%
2024
34.7%
2023
Industry, % of GDP
24.6%
2024
33.6%
2023
Agriculture, forestry, and fishing, % of GDP
16.3%
2024
22.9%
2023
GNI, Atlas method
$3.84T
2024
$17.5B
2024
GNI per capita, PPP
$11,000
2024
$7,100
2024
Total reserves including gold
$643B
2024
$3.3B
2023
Total reserves ranking
5/177
2024
117/177
2023
Net foreign direct investment
-$2.89B
2024
-$190M
2024
Net inflows of foreign direct investment
$27.1B
2024
$291M
2024
Net outflows of foreign direct investment
$24.2B
2024
$101M
2024
Servicing debt to the IMF, % of GNI
2.38%
2024
3.07%
2024
Poverty at national poverty lines
21.9%
2011
19.8%
2024
Gross capital formation, % of GDP
32.9%
2024
31.7%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/india/tajikistan | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1861–1990, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.