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

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