According to IMF data, India’s GDP has grown by an impressive 105% over the past decade, increasing from $2.1 trillion in 2015 to $4.3 trillion in 2025. This makes India the fifth-largest economy globally, following the United States, China, Germany, and Japan.
In contrast, the US and China recorded GDP growth of 66% and 44%, respectively, over the same period. Japan, which remains just ahead of India with a GDP of $4.4 trillion, has seen zero growth in the past decade.
Outpacing Global Economies
India’s economic performance surpasses that of other major economies. While the UK’s GDP increased by 28% and France’s by 38%, India’s growth remains unmatched. Russia, Australia, and Spain, with GDP growth rates of 57%, 58%, and 50% respectively, also trail India.
BJP Minister Amit Malviya highlighted the growth milestone, crediting Prime Minister Narendra Modi’s leadership. He emphasized the success of economic reforms, ease of doing business initiatives, and the government’s proactive policies.
Key Factors Driving Growth
India’s economic expansion is a result of several factors, including:
- Structural Reforms: Policies like GST implementation and corporate tax cuts streamlined the economy.
- Infrastructure Development: Massive investments in highways, railways, and digital infrastructure.
- Manufacturing and Exports: Initiatives like ‘Make in India’ boosted manufacturing and global trade.
- FDI Inflows: Consistent foreign investments reflecting confidence in India’s economic landscape.
Future Economic Prospects
With its current growth trajectory, India is expected to surpass Japan and secure the fourth spot in the global GDP rankings soon. As the world’s fastest-growing major economy, India’s expanding influence in the global economic landscape is evident.
The IMF projects further growth, driven by continued reforms, increased industrial productivity, and advancements in technology and innovation.
Conclusion
India’s economic transformation over the past decade is a testament to robust policymaking and economic resilience. As the nation continues its upward journey, it not only strengthens its position as a global powerhouse but also presents significant opportunities for investors and businesses worldwide.
