New Delhi. India has achieved a new position on the global economic map. According to the recently released economic review, India has claimed to become the fourth largest economy in the world, leaving behind Japan. The government estimates that the country’s total gross domestic product (GDP) has now reached about $4.18 trillion. However, this will be officially confirmed only after the final data is released in 2026.
In fact, the International Monetary Fund (IMF) estimates that India’s GDP could be $4.51 trillion by 2026. Whereas Japan’s GDP is likely to be around 4.46 trillion dollars. This means that India’s move forward is considered almost certain.
Path to becoming the third largest economy
The government’s expectations go even further than this. Keeping in mind the current growth rate, it is being said that in the next two and a half to three years, India can overtake Germany and become the third largest economy in the world. It is estimated that India’s GDP could reach $7.3 trillion by 2030. Despite global uncertainties and trade pressures, the Indian economy appears to be strengthening. This country is among the fastest growing large economies of the world.
Income and youth challenge of common Indian
However, despite the increase in overall GDP, the income of the common Indian is still low. According to World Bank data, India’s per capita income in 2024 will be only $2,694. This is 12 times less than Japan and about 20 times less than Germany.
India has become the world’s most populous country, and more than a quarter of its population of about 1.4 billion are aged 10 to 26. The biggest challenge before the government is to create adequate and sustainable employment for such a large youth population.
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