India has made historic strides in the global economic arena, overtaking Japan to emerge as the world’s fourth-largest economy. The Ministry of Finance and NITI Aayog have officially confirmed that India’s Gross Domestic Product (GDP) has reached $4.18 trillion, narrowly surpassing Japan’s estimated $4.186 trillion.
From the 10th position in 2010, India climbed to the 5th spot in 2019 by overtaking the UK, and now has positioned itself alongside the United States, China, and Germany among the world’s top economies.
Future Projections
According to government projections, India is expected to surpass Germany within the next 2–3 years, becoming the third-largest global economy. NITI Aayog CEO B.V.R. Subrahmanyam estimates that India’s GDP could reach $7.3 trillion by 2030. With a median age of just 28.8 years, India’s youthful demographic continues to serve as a key driver of economic growth, even as other developed nations face aging populations.
Factors Driving Growth
Strengthening of the manufacturing sector through GST, digital payment systems (UPI), and Production Linked Incentive (PLI) schemes.
Robust private consumption and rising purchasing power in rural markets.
Effective control of inflation amid global uncertainties, sustaining growth above 6.5%.
Economic experts view this achievement as a strong foundation for India’s long-term vision of becoming a developed nation by 2047.