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As India’s GDP reaches $4.3 trillion in early 2025, the world watches in amazement the remarkable turnaround of the Indian economy in the last ten years. India, which has more than doubled its GDP in the last decade, not only remains the fastest-growing major economy in the world but also emerges as the economy which has shown the highest decadal growth. The GDP, which more than doubled from $2.1 trillion in 2013 to $4.3 trillion in 2025, marking a 105% increase, is a feat unmatched by most major global economies. The Indian economy, which was counted among the ‘Fragile Five’ economies of the world during the Congress-led UPA era, has now become one of the ‘Top Five’ economies under the dynamic and visionary leadership of Prime Minister Shri Narendra Modi and today emerged as the growth engine of the world.
While the economy has more than doubled, India achieved a record-breaking $709.84 billion in foreign direct investment from 2014 to 2024, representing a significant 119% increase over the $320 billion attracted during the UPA era (2004-2014). Under the Modi government, India’s exports have witnessed record-breaking growth, rising from USD 466 billion in 2013-14 (UPA’s final year) to $778 billion in
The Indian economy, which was counted among the ‘Fragile Five’ economies of the world during the Congress-led UPA era, has now become one of the ‘Top Five’ economies under the dynamic and visionary leadership of Prime Minister Shri Narendra Modi and today emerged as the growth engine of the world
2023-24—a 67% increase. The share of exports in GDP rose from 18.7% in 2020-21 to 21.85% in 2022-23, signalling a strong post-pandemic recovery. Services exports surged to $709.84 billion during 2014–24, more than doubling the UPA-era figure of $305 billion. This growth has been driven by strategic initiatives like Make in India and Production Linked Incentive (PLI) schemes, which have enhanced India’s manufacturing capabilities and global competitiveness.
Despite global challenges like the Covid-19 pandemic and the Russia-Ukraine war, India’s GDP is projected to grow at 6.8% in 2025, following 8.2% in 2023–24—the highest among major economies. In contrast, the UPA era (2004–2014) averaged a lower growth rate of 6.8%, compared to 8.4% under the NDA (2014–2024). Reflecting this growth at the individual level, per capita income surged from Rs. 86,647 in 2014 to Rs. 2.12 lakh in 2024, signifying a direct uplift in living standards for millions of Indians. While the economy continues to do wonders, a remarkable outcome of it is that 25 crore people have been lifted out of multidimensional poverty as the Multidimensional Poverty Index (MPI) fell sharply while extreme poverty also fell below 1% during the last decade. This turnaround reflects the impact of targeted welfare schemes, financial inclusion, rural development, and improved health and education access under NDA governance.
The Modi government’s flagship Jan Dhan Yojana exponentially boosted financial inclusion, with over 53 crore new bank accounts opened, providing unprecedented banking access nationwide. The JAM Trinity (Jan Dhan-Aadhar-Mobile) effectively facilitated seamless Direct Benefit Transfers (DBT), exemplified by Rs. 27,442.08 crore swiftly transferred to 11.42 crore beneficiaries within just 24 days during the peak of the Covid-19 lockdown. Furthermore, the rise in digital transactions from 2.2 billion in 2013-14 to over 208.5 billion in 2024 is driven by Digital India.
The remarkable economic achievements of the Modi government highlight strategic governance, fiscal discipline, and infrastructure-led growth that have propelled the Indian economy forward despite global headwinds. The more than doubling of GDP has given huge impetus to achieving the target of becoming the third largest economy in the world within a couple of years from now. The emergence of the Indian economy as the growth engine of the world economy is paving the path of ‘Viksit Bharat’.