Highlights

  • India is the world’s fifth-largest economy
  • India is behind the United States of America, China, Germany and Japan

Latest news

Vinod Kambli develops fever in hospital, health condition stable, say doctors

Vinod Kambli develops fever in hospital, health condition stable, say doctors

Champions Trophy 2025: India-Pakistan on February 23 in Dubai

Champions Trophy 2025: India-Pakistan on February 23 in Dubai

Snowfall in Himachal leads to closure of 177 roads, Shimla hotel room occupancy rises to 70 pc

Snowfall in Himachal leads to closure of 177 roads, Shimla hotel room occupancy rises to 70 pc

Saurashtra Express derails near Surat, no one injured

Saurashtra Express derails near Surat, no one injured

'We should try again': Pakistan's Punjab Assembly Speaker on Vajpayee's failed India-Pak peace initiative

'We should try again': Pakistan's Punjab Assembly Speaker on Vajpayee's failed India-Pak peace initiative

Jaipur Fire Tragedy: Tanker driver appears before police, to be questioned by SIT

Jaipur Fire Tragedy: Tanker driver appears before police, to be questioned by SIT

Congress files plea in Supreme Court against amendments to election rules

Congress files plea in Supreme Court against amendments to election rules

President to confer Pradhan Mantri Rashtriya Bal Puraskar to 17 children on December 26

President to confer Pradhan Mantri Rashtriya Bal Puraskar to 17 children on December 26

India not yet a $4 trillion economy; but we are close, say economists

A viral unverified screenshot on Sunday claimed India’s GDP surpassed $4 trillion, marking a historic first. However, here's what economists say about how close we are to that mark. 

Video Player is loading.
Current Time 0:00
Duration 0:00
Loaded: 0%
Stream Type LIVE
Remaining Time 0:00
 
1x
    • Chapters
    • descriptions off, selected
    • captions off, selected

      India is, without a doubt, one of the fastest growing economies in the world. However, it is not yet a $4 trillion economy, as claimed by a recent screenshot that went viral.

      Social media has been abuzz with a screenshot claiming that India's GDP had reached $4 trillion, sparking discussions of India surpassing the UK as the third-largest economy. However, this is not the case.

      Economists have pointed out that while India has not reached the milestone, it is close. Projected budget numbers say that India's GDP is around $3.63 trillion. Economists like Madan Sabnavis from Bank of Baroda dismissed the likelihood of India hitting the $4 trillion mark, citing current projections.

      Also read/watch - Who is the new interim Chief of OpenAI Emmett Shear succeeding Sam Altman?

      The Union Budget projected a nominal GDP of around $3.63 trillion for the current fiscal year, making a $4 trillion economy seem improbable.

      "India on a rolling basis won’t hit $4 trillion till late 2024-early 2025," Barclays India chief economist Rahul Bajoria, said in a post on X.

      https://publish.twitter.com/?query=https%3A%2F%2Ftwitter.com%2FRahulBajoria_%2Fstatus%2F1726176727515402389&widget=Tweet

      Meanwhile, Deepak Shenoy of Capitalmind points out that at best we are possibly at $3.45 trillion now.

      “A $4 trillion economy does not seem likely in the current situation. It would translate into nominal GDP of about Rs 330 lakh crore, which may be possible with a 10% growth in 2024-25,” said Madan Sabnavis, chief economist at Bank of Baroda.

      https://publish.twitter.com/?query=https%3A%2F%2Ftwitter.com%2Fdeepakshenoy%2Fstatus%2F1726223582085485037&widget=Tweet

      While, there was no official confirmation or denial of this, the post with the screengrab went viral and was shared by many including BJP leaders.

      Also read/watch - PhysicsWallah may lay off up to 120 employees

      India’s official GDP estimates are released by the National Statistical Office under the Ministry of Statistics and Programme Implementation per a scheduled calendar.

      Official data on GDP estimates for the second quarter of the financial year will be released at the end of this month.

      RBI's estimate on India's GDP

      According to recent RBI estimates, the Indian economy is expected to grow 6.5 per cent this financial year, lower than 7.2 per cent recorded in 2022-23. The International Monetary Fund (IMF) has projected growth of 6.3 per cent every year till 2028.

      GDP

      ADVERTISEMENT

      Up Next

      India not yet a $4 trillion economy; but we are close, say economists

      India not yet a $4 trillion economy; but we are close, say economists

      Oil Prices Edge Higher Amid Strong U.S. Economic Data, Rising Indian Demand

      Oil Prices Edge Higher Amid Strong U.S. Economic Data, Rising Indian Demand

      Nifty 50, Bank, FMCG Lead Gains; Auto Sector Declines – Market Update December 23, 2024

      Nifty 50, Bank, FMCG Lead Gains; Auto Sector Declines – Market Update December 23, 2024

      Stock Market Roundup: December 23, 2024 - U.S. Markets Lead, Europe Shows Stability, Asia Gains

      Stock Market Roundup: December 23, 2024 - U.S. Markets Lead, Europe Shows Stability, Asia Gains

      Nifty 50 Stock Analysis – December 23, 2024: Key Losses and Technical Insights

      Nifty 50 Stock Analysis – December 23, 2024: Key Losses and Technical Insights

      Top Nifty 50 Gainers on December 23, 2024: Technical Analysis of JSWSTEEL, ITC, HINDALCO, TRENT, and HDFC

      Top Nifty 50 Gainers on December 23, 2024: Technical Analysis of JSWSTEEL, ITC, HINDALCO, TRENT, and HDFC

      ADVERTISEMENT

      editorji-whatsApp

      More videos

      Indian Stock Market stage sharp recovery after five days of fall

      Indian Stock Market stage sharp recovery after five days of fall

      India has potential to be key sustainable aviation fuel producer: IATA

      India has potential to be key sustainable aviation fuel producer: IATA

      Market Cap of India's top-10 most valued firms slumps Rs 4.95 lakh Crore

      Market Cap of India's top-10 most valued firms slumps Rs 4.95 lakh Crore

      Honda and Nissan Start Merger Talks to Rival Chinese EV Giants and Tesla

      Honda and Nissan Start Merger Talks to Rival Chinese EV Giants and Tesla

      Divya Kala Mela run by persons with disabilities makes sale of Rs 3.5 crore: Government

      Divya Kala Mela run by persons with disabilities makes sale of Rs 3.5 crore: Government

      Indian Stock Market Indices: Sector Analysis Performance Today - 20 December, 2024

      Indian Stock Market Indices: Sector Analysis Performance Today - 20 December, 2024

      Global Stock Market Indices: How the World Markets Performed Today - 20 December, 2024

      Global Stock Market Indices: How the World Markets Performed Today - 20 December, 2024

      NSE Nifty 50 Top Gainers: What are the 5 Biggest Stock Gainers Today (Dec 20)?

      NSE Nifty 50 Top Gainers: What are the 5 Biggest Stock Gainers Today (Dec 20)?

      Nifty 50: Top losers today - 20 December 2024

      Nifty 50: Top losers today - 20 December 2024

      Rupee recovers from all-time low, gains 10 paise to 85.03 against US dollar

      Rupee recovers from all-time low, gains 10 paise to 85.03 against US dollar

      Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.