India's GDP Surges to $4.3 Trillion, Doubling in a Decade with 105% Growth

India has been the fastest-growing major economy in the world over the past decade, with the latest data from the International Monetary Fund (IMF) revealing an impressive 105% growth during this period.

As per the IMF, India's GDP is now at $4.3 trillion, compared to $2.1 trillion in 2015, when Narendra Modi was in his first year as prime minister. Since then, India has more than doubled its economy in terms of Gross Domestic Product (GDP).

At $4.3 trillion, India's GDP more than doubled in 10 years, outpacing the world. (Representational)

India is on the brink of surpassing Japan to become the world’s fourth-largest economy. With Japan's GDP at $4.4 trillion, India is expected to exceed this figure by the third quarter of 2025. If the current growth rate persists, India is set to surpass Germany, the third-largest economy, by the second quarter of 2027, with Germany's GDP currently at $4.9 trillion.

Commerce and Industry Minister Piyush Goyal has praised India's remarkable economic performance over the past decade, calling it "outstanding" for doubling its GDP. He pointed out that India, with a 105% growth rate, has outperformed other major economies, including China (76%), the USA (66%), Germany (44%), France (38%), and the UK (28%).

India has outpaced all nations in the G7, G20, and BRICS, more than doubling its economic size.

"The global shift is real! PM Narendra Modi-ji has led India to double its GDP in the last decade, positioning it to become the third-largest economy globally soon," Mr Goyal said.

'THE BIG TWO'

India led the world in economic growth rate, but the United States ($30.3 trillion) and China ($19.5 trillion) retained the top two spots in overall economic size. Germany ranks third at $4.9 trillion, followed by Japan at $4.4 trillion, and India in fifth place at $4.3 trillion.

At its current growth pace, India is expected to break into the top two within just over two decades. Notably, as of March 2025, the U.S. national debt stands at $36.22 trillion, while China’s debt, as of September 2024, is $2.52 trillion. In comparison, India’s total debt as of September 2024 is significantly lower at $712 billion.

India's Path to Progress

India took 60 years to achieve its first trillion-dollar GDP milestone in 2007. The next trillion was added in just seven years, reaching $2 trillion in 2014. Despite the challenges of COVID-19, the economy grew to $3 trillion by 2021, and the jump to $4 trillion took only four years.

At this rate, if the current momentum continues, India could be adding a trillion dollars to its GDP every 1.5 years, potentially reaching a $10 trillion economy by the end of 2032.

(This Article was originally published by NDTV)