In 2016, real gross capital formation for India was 12,425,117 million LCU. Real gross capital formation of India increased from 3,656,272 million LCU in 1997 to 12,425,117 million LCU in 2016 growing at an average annual rate of 6.79 %.The description is composed by Yodatai, our digital data assistant. Have a question? Ask Yodatai ›
Gross capital formation (also known as gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and 'work in progress'. According to the 1993 SNA, net acquisitions of valuables are also considered capital formation.