India - Imports of Goods and Services

For India, the quarterly and annual national accounts, including: the detailed expenditure approach to GDP (use of GDP), gross value added (production approach), and compensation of employees (income approach).

Active:

• National accounts framework: UN SNA 2008
• Industry classification: NIC 2008, the adaptation of ISIC Rev. 4
• Measurements:
  • Ten million Indian rupees at constant fiscal year 2022-23 prices (10 Mil. FY 2023 INR)
  • At current prices (10 Mil. INR)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequencies:
  • Quarterly
  • Annual(March)
• Start dates:
  • As early as 1996Q2
  • 1951, 2012 or 2023

Predecessors:

• At FY 2012 prices, quarterly - 2011Q2 to 2025Q3
• At FY 2012 prices, annual - 1951 to 2025
• At FY 2005 prices, NIC 1998 (ISIC Rev. 3) - 1951 to 2014 ("_05")
• At FY 2000 prices - 1996Q2 to 2009Q3 ("_00")

Global concept aliases:

• GDP, GDP$
• C, C$
• G, G$
• IF, IF$
• CIVT, CIVT$
• EX, EX$
• IM, IM$
• YP

As of adopting base year FY 2012, the NSO incorporated recommendations of UN SNA 2008 to the extend of availability of data.

Valuation is by market prices, not factor cost.

Moody's Analytics supplements

As of October 2019, we back-extend the history of annual series to 1951 or 1952, and quarterly NSA series to as early as 1996Q1.

For select GDP(E) and GVA items at current and constant prices, we compute counterparts that are seasonally adjusted at an annualized rate (SAAR). We either adjust directly or compute additive identities, as needed to maximize quality; these series carry a secondary source citation of "Moody's Analytics Adjusted" or "Moody's Analytics Calculated," respectively.

Yes. The quartertly estimates are brought out with a timeliness of two months after the completion of a quarter. First and second quarter estimates are revised with the release of Second Advance Estimates. First, second and third release of 4th quarter estimates on 31st May. Thereafter, quarterly estimates for a financial year are revised based on revision of annual estimates each time these estimates are released for succeeding years.

Apart from this regular revision calendar, the estimates are also revised in case of revision of the base year of any of the indices used for compilation of these estimates. The most important indices used for compilation of GDP are Index of Industrial Production (IIP), Wholesale Price Index (WPI) and Consumer Price Indices.

Treatment of non-calendar year data

India's fiscal year runs from April 1, YYYY to March 31, YYYY+1. For example, fiscal year 2020-2021 runs from April 1, 2020 to March 31, 2021.

India's symbology is "2022-23" but we use "FY 2023." Given our usage of hyphens, "2022-23" might ambiguously represent a multiple-CY period, as with U.S. CPI.

For data reported by fiscal year that spans two calendar years, Data Buffet banks to the second calendar year. For example, India's data for "year 2018-19" is stored as 2019.

Abbreviations used by the source

• CIS - Change in stocks
• GDP - Gross domestic product
• GFCE - Government fixed consumption expenditure
• GFCF - Gross fixed capital formation
• GNI - Gross national income
• GVA - Gross value added
• NNI - Net national income
• NVA - Net value added
• PFCE - Private fixed consumption expenditure

Further reading

At the source:

• Changes in methology and data sources in the new series of national accounts, Base year 2011-12 (Jun 2015, pdf)

At IMF (SDDS):

• National accounts (Feb 2025)

• Sep 2005 - Initial version.
• Aug 2012 - Addendum of extended and SA supplements for GDP(E).
• Feb 2015 - Framework advanced to SNA 2008, currency reference year advanced from FY 2005 to FY 2012.
• Jul 2015 - Addendum of sector detail.
• Sep 2019 - Extension of history by source.
• Oct 2019 - Addendum of extended and SA supplements for GVA.
• 24 Apr 2025, Phillip Thorne - Change in construction of SAAR supplements.
• 25 Mar 2026, Phillip Thorne - Currency reference year advanced to FY 2023 (partial): Properties, Treatment of non-calendar year data, Abbreviations used by the source.