India’s economy achieved a historic milestone on Sunday, November 19, surpassing the $4 trillion mark in nominal terms for the first time ever in its GDP, according to multiple media reports that purportedly featured a screenshot of a real-time GDP tracker of all economies based on IMF data. India has advanced under the dynamic leadership of PM Modi.
Additionally, sharing the screen grab on Twitter (now known as X), Union Minister of State Arjun Ram Meghwal stated, “This is a pivotal time for India’s international standing.” But until the initial reports surfaced, the government of India has not made any official announcement on this.
With this breakthrough, India’s economy moved closer to its audacious target of becoming a $5 trillion economy by the Year 2025. This historic increase has also been fueled by India’s persistent efforts in several areas, along with sound governance and strategic policies, underscoring the country’s standing as one of the major economies with the fastest rate of growth in the world. As the report’s public release, BJP leaders, ministers, and well-known industrialists praised Prime Minister Narendra Modi’s leadership for India’s success in crossing the $4 trillion threshold.
Maharashtra Deputy Chief Minister, Devendra Fadnavis posted a picture on social media and said “This is what dynamic, visionary leadership looks like” and also congratulated Indian fellow members on the crossing $4 trillion economy.
“India’s GDP reaches $4 trillion, a significant milestone that marks a turning point in our international standing.” India has reached previously unheard-of levels under PM Modi’s transformative leadership,” Mr Meghwal wrote in his recent post.
Moreover, Gautam Adani, the head of the Adani Group, added that the nation’s economy will rise to the third rank in the next two years. “India, congratulations. India still has two years to go before surpassing Germany ($4.3 trillion) and Japan ($4.4 trillion) to become the third-largest country in the world by GDP. The Tricolor wave keeps going! Adani wrote on a social media platform “Jai Hind”.
India has set a target of becoming a $5 trillion economy and India may reach the possible goal by 2026-27. Reacting to the reports economists and analysts said that India, having achieved a historic GDP milestone of over $4 trillion, stands tall as a beacon of economic mastery and international influence.
Real GDP growth in the second quarter is expected to exceed the 6.5% growth predicted by the Reserve Bank of India in its bulletin dated November 16 based on economic projections and a “wide consensus”. India’s economy expanded by 7.8% in the first three months of the current fiscal year. The Governor of the RBI, Shaktikanta Das, recently voiced optimism regarding the domestic economy.
“Looking at the momentum of economic growth – a few early data points have come in – I expect Q2 GDP numbers, which will come at the end of November in all probability will surprise on the upside,” Das stated on October 31.