By The Sampadak Express
India is poised to surpass Japan and become the world’s fourth-largest economy by the third quarter of the financial year 2024-25, according to the latest data from the International Monetary Fund (IMF). The country’s impressive economic growth has seen its Gross Domestic Product (GDP) more than double over the past decade, rising from $2.1 trillion in 2015 to an estimated $4.3 trillion by 2025.
Currently the fifth-largest economy, India is quickly closing in on Japan, whose GDP stands at $4.4 trillion. While Japan’s economy has remained largely stagnant, India’s GDP has surged by 105% in the last ten years. If this trend continues, India could also surpass Germany, the world’s third-largest economy, with a GDP of $4.9 trillion, by the second quarter of 2027.
India’s Economic Growth Outpaces Major Global Economies
India’s growth trajectory has outstripped several major global economies in the past decade. The country’s economic expansion has been faster than China, the United States, and leading European nations. Over the same period, China’s GDP grew by 76%, the US by 66%, Germany by 44%, France by 38%, and the UK by 28%.Commerce and Industry Minister Piyush Goyal lauded India’s growth, describing it as “outstanding.” He pointed out that India has outperformed all G7, G20, and BRICS nations in terms of economic expansion.
India’s Steady Rise in Global Economic RankingsIndia’s rise in the global economic rankings has been consistent. It took the country six decades to reach its first $1 trillion in GDP in 2007, and just seven years later, in 2014, it crossed the $2 trillion mark. Despite the challenges posed by the COVID-19 pandemic, India’s economy expanded to $3 trillion in 2021, and it is set to hit $4.3 trillion within four years.
Experts predict that at the current pace, India could add $1 trillion to its GDP every 1.5 years. If this momentum is maintained, India could achieve a $10 trillion economy by the end of 2032.
A Glimpse at the Global Landscape
Despite India’s rapid ascent, the two largest global economies remain far ahead. The United States continues to dominate with a GDP of $30.3 trillion, followed by China at $19.5 trillion.
India’s impressive growth underscores its increasing role in the global economic landscape, positioning it as a rising powerhouse in the years to come.
