Will India Reach a 5 Trillion-Dollar Economy?
                     Will India 
Reach a 5 
Trillion-
Dollar 
Economy?
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WILL INDIA REACH A 5 TRILLION-
DOLLAR ECONOMY?
The big question on many people's 
minds has been; can India be a 5 
trillion economy? India is likely to 
become a $5 trillion economy by 
2026-27 and USD 10 trillion by 
2033-34, according to the country's 
Chief Economic Adviser (CEA) V 
Anantha Nageswaran. Addressing 
an event organized by UNDP India, 
Nageswaran said India is relatively 
better placed than other emerging 
economies at this moment in time.
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WILL INDIA REACH A 5 TRILLION-
DOLLAR ECONOMY?
India became the world’s fifth-largest 
economy in 2019 with a nominal 
GDP of $2.94 trillion. It overtook the 
economies of France ($2.71 trillion) 
and the UK ($2.83 trillion) during that 
period. The issue with GDP numbers 
is that they usually undergo a series 
of revisions and the final data comes 
after a lag of about 2 to 3 years. 
Hence, the first estimates of national 
output are approximate figures and 
are subject to further revisions.
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WILL INDIA REACH A 5 TRILLION-
DOLLAR ECONOMY?
India has reached a momentous 
milestone. It is on the verge of 
becoming the fifth-largest economy 
in the world. But the reality is that 
this position has been achieved in 
advance of official data. 
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WILL INDIA REACH A 5 TRILLION-
DOLLAR ECONOMY?
It was done using projections rather 
than the actual figures to find the 
GDP. The GDP figures for France 
and the UK remain unchanged at 
$2.71 trillion and $2.83 trillion 
respectively. These figures have 
been mentioned on several news 
websites, newspapers, books, and 
magazines.
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WILL INDIA REACH A 5 TRILLION-
DOLLAR ECONOMY?
India is set to enter the top five 
global economies in terms of gross 
domestic product (GDP) by 2027, 
according to the 
International Monetary Fund (IMF). 
India’s economy is projected to 
surpass German and British 
economies in terms of size. 
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WILL INDIA REACH A 5 TRILLION-
DOLLAR ECONOMY?
In the World Economic Outlook 
report released on April 10, 2019, 
IMF revised its previous forecast that 
had placed India's economy ranking 
at number six in 2022 ($5.8 trillion 
vs. $6 trillion). 
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WILL INDIA REACH A 5 TRILLION-
DOLLAR ECONOMY?
The latest report gives a more 
optimistic forecast for Indian growth, 
predicting the economy will grow at 
an average of 7.2% over 2021-2027 
due to structural reforms and an 
improved business climate.
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The Current Position of the Indian 
Economy
India has emerged as the 
fastest-growing major 
economy in the world and is 
expected to be one of the top 
three economic powers 
globally over the next 10-15 
years, backed by its robust 
democracy and strong 
partnerships. 
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The Current Position of the Indian 
Economy
Further, government spending on 
infrastructure and asset-building 
projects is poised to increase 
growth multipliers. Revival in 
monsoon and Kharif sowing 
helped the agriculture sector gain 
momentum as well. There is a 
huge growth in demand for 
electronic products, clothes, 
groceries, beauty products, and 
even vehicles.
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Current GDP of India
As per the provisional estimates of 
GDP released on May 31, 2022, 
the growth in GDP was 8.7% in FY 
2021-22, which is higher than that 
during the same period last year. 
The Indian GDP in trillion dollars 
has already been achieved. 
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Current GDP of India
The investment rate in the fourth 
quarter of FY 2021-22 reached its 
highest level in 9 quarters. These 
positive trends suggest a growing 
economy. India's economy has fully 
recovered from the impact of the 
H1N1 pandemic, driven by stronger 
economic demand. 
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Current GDP of India
Growth in private final consumption 
expenditure (PFCE) was at 8.6% in 
FY 2021-22 and the investment rate 
increased to its highest level in the 
previous nine quarters. It is expected 
to cross the 5 trillion economies by 
2026 and 2027.
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