India becomes the fastest-growing major economy in the world over the last 10 years, surpassing global peers with record GDP expansion and edging closer to overtaking Japan and Germany in global rankings.
New Delhi | March 26, 2025 — India’s economic rise continues to defy global trends. According to the latest data released by the International Monetary Fund (IMF), India’s Gross Domestic Product (GDP) now stands at $4.3 trillion, more than doubling in the past decade—a growth rate of 105%.
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In 2015, India’s GDP stood at $2.1 trillion. Today, that figure has more than doubled, making India the fastest-growing major economy over the past 10 years. In comparison, China saw a 76% rise, the US 66%, Germany 44%, France 38%, and the UK just 28% during the same period.
Commerce and Industry Minister Piyush Goyal praised the performance, calling it “outstanding” and a reflection of India’s “unstoppable momentum under Prime Minister Narendra Modi’s leadership.” He noted that India is now ahead of all G7, G20, and BRICS nations in terms of decade-long GDP growth.
🪙 Race to the Top 3
India currently ranks fifth in the world in terms of GDP size—just behind Japan ($4.4 trillion) and Germany ($4.9 trillion). If current trends continue, India is expected to overtake Japan by Q3 of 2025, and Germany by Q2 of 2027, positioning itself as the third-largest economy globally.
💸 Debt Profile in Context
Interestingly, India’s economic leap comes with a relatively modest debt profile. As of September 2024:
- India’s total debt: $712 billion
- China’s national debt: $2.52 trillion
- US national debt: $36.22 trillion
📈 India’s Accelerated Economic Journey:
- 2007: Crossed $1 trillion GDP
- 2014: Reached $2 trillion
- 2021: Touched $3 trillion despite COVID-19
- 2025: Hits $4.3 trillion
If this trajectory continues, India is expected to add $1 trillion every 1.5 years, aiming to reach $10 trillion by 2032—solidifying its place among the world’s top economies.
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