India has emerged as the fastest-growing major economy over the past decade, recording an impressive 105% growth since 2015, according to the International Monetary Fund (IMF). The country’s GDP now stands at $4.3 trillion more than doubling from $2.1 trillion when Prime Minister Narendra Modi was in his first year in office. With this momentum India is set to overtake Japan, whose GDP currently stands at $4.4 trillion by the third quarter of 2025. If the growth trend continues India is expected to surpass Germany’s $4.9 trillion economy by mid-2027 making it the world’s third-largest economy.
Commerce and Industry Minister Piyush Goyal hailed India’s economic performance as “outstanding,” emphasizing that the country has outpaced all G7, G20 and BRICS nations in terms of GDP expansion. India’s 105% growth over the past ten years is significantly higher than China’s 76%, the United States’ 66%, Germany’s 44%, France’s 38%, and the United Kingdom’s 28%. The data highlights India’s rapid economic transformation, driven by structural reforms, industrial expansion, and a growing digital economy.
India’s economic journey has accelerated remarkably over the years. It took the country six decades to reach its first $1 trillion GDP milestone in 2007. The next trillion was added in just seven years by 2014, followed by another seven years to reach $3 trillion in 2021. However, the jump from $3 trillion to $4 trillion has taken only four years, showcasing an increasingly fast-paced growth trajectory. At this rate, India is expected to add $1 trillion to its GDP every 1.5 years, potentially reaching the $10 trillion mark by the end of 2032.
While India is set to claim the third spot among the world’s largest economies, the United States and China remain far ahead, with GDPs of $30.3 trillion and $19.5 trillion, respectively. However, India’s relatively lower national debt standing at $712 billion in 2024 contrasts with the U.S. national debt of $36.22 trillion and China’s $2.52 trillion, positioning the country for sustained long-term growth. As India continues its upward trajectory, its economic influence on the global stage is becoming increasingly undeniable