India has now overtaken Japan to become the fourth largest economy in the world. India’s gross domestic product (GDP) is 4.18 lakh crore US dollars (about Rs 370 lakh crore). According to the year-end economic review of the Government of India, in the coming years the Indian economy is going to overtake Germany and become the third largest economy in the world after America and China.
Estimated GDP by 2030 will be 7.3 trillion dollars
“With a GDP of $4.18 trillion, India has overtaken Japan to become the world’s fourth largest economy and is set to displace Germany from the third position in the next 2.5 to 3 years. The estimated GDP by 2030 will be $7.3 trillion,” the government statement said. In this government economic note it was told that India is one of the fastest growing major economies in the world.
Unemployment is decreasing- Government
“India is one of the world’s fastest growing large economies and is well positioned to sustain this momentum. With the aim of becoming an upper middle-income country by 2047, its 100th year of independence, the country is moving forward on a strong foundation of economic growth, structural reforms and social progress,” the government said. The government said that inflation remains below the lower tolerance level and unemployment is decreasing.
Such are the estimates of India’s GDP
Despite uncertainties in global trade, India’s GDP grew by 8.2 per cent in the second quarter of 2025-26, higher than 7.8 per cent in the first quarter and 7.4 per cent in the fourth quarter of the last financial year and the highest in six quarters. The World Bank has projected growth of 6.5 percent in 2026, while Moody’s expects India to remain a fast-growing economy at 6.4 percent in 2026 and 6.5 percent in 2027.
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