Despite poor per capita GDP, India resilient to global shocks

New Delhi: India’s remarkable journey from the 10th to the 4th largest economy in just a decade reflects the country’s expanding global clout and resilient growth engine, Kotak Mahindra Asset Management Company (AMC) Managing Director Nilesh Shah has said. Despite its modest per capita GDP of $2,940, placing it 136th globally, India’s contribution to the global economy has become increasingly significant. Speaking at the Kotak International India Insight Summit in New York, Shah stated that India’s economic journey has been driven by strong domestic consumption, a vibrant services sector, and manufacturing expansion, which have collectively enabled the nation to surpass the $4 trillion GDP mark by 2025. “India drives 8-10 per cent of world growth, and on purchasing power parity terms, our contribution is close to 18 per cent,” Shah said, calling the country “the engine of the global growth train in the days to come”.