India will be 3rd largest economy in 3 yrs: FinMin

Growth Trajectory

•  10 yrs ago, India was world’s 10th largest economy with GDP of $1.9 trn
•  Today, India is the 5th largest with GDP of $3.7 trn
•  Initiated several reforms in last 10 yrs
•  That enabled India to overcome Pandemic, other inherited issues

New Delhi: India is expected to become the third-largest economy in the world with a GDP of $5 trillion in the next three years and touch $7 trillion by 2030 on the back of continued reforms, the Union Finance Ministry said on Monday.

Ten years ago, India was the 10th largest economy in the world, with a GDP of $1.9 trillion at current market prices. Today, it is the 5th largest with a GDP of $3.7 trillion (estimate FY24), despite the pandemic and despite inheriting an economy with macro imbalances and a broken financial sector, said the Ministry’s January 2024 review of the economy.