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India outpaced all the nations in the G7, the G20,
and the BRICS by more than doubling its economy size
India has been the fastest growing major economy in the world for the last ten years, with the latest data from the International Monetary Fund (IMF) showing a staggering 105 per cent growth in the last decade.
According to the IMF, India’s GDP currently stands at $4.3 trillion. After the inception of BJP government at the centre under the dynamic leadership of Prime Minister Shri Narendra Modi, India has focussed on strengthening the economy. It was $2.1 trillion in 2015 and since then, India has more than doubled its economy in terms of Gross Domestic Product.
India is on the cusp of overtaking Japan as the fourth-largest economy in the world. Japan’s GDP currently stands at $4.4 trillion, and India is poised to go past that mark by the third quarter of 2025. Should the average rate of growth continue the way it is, India will surpass Germany – the 3rd-largest economy globally – by the 2nd quarter of 2027. Germany’s GDP currently stands at $4.9 trillion. India has also outpaced all the nations in the G7, the G20, and the BRICS by more than doubling its economy size.
While India topped the list in terms of pace of growth, the top two spots in terms of size of economy remained the United States ($30.3 trillion) and China ($19.5 trillion). Germany is in third place at $4.9 trillion, Japan in fourth at $4.4 trillion, and India in fifth at $4.3 trillion.
Breaking into the top two places will take India a little over two decades at its current rate of growth. Though, it is interesting to note that as of March 2025, the US’s national debt stands at $36.22 trillion, while China’s national debt as of September 2024 stands at $2.52 trillion. In comparison, India’s overall debt as of September 2024 stands at $712 billion.
INDIA’S GROWTH TRAJECTORY
India took 60 years for its GDP to reach the first trillion-dollar mark (in 2007). From $1 trillion to $2 trillion took 7 years (in 2014), Despite COVID-19, India reached the $3 trillion mark in 2021. The journey from $3 trillion to $4 trillion took just 4 years.
At this pace, should the progression continue the way it is, India is poised to add a trillion dollars to its GDP every 1.5 years and could likely become a $10 trillion economy by the end of 2032.