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India’s economy was worth $3.7 trillion in 2023, making it the world’s fifth largest, having jumped four spots in the rankings during Modi’s decade in office.
India surpassed the UK as the world’s fifth-largest economy in 2023, and analysts at Morgan Stanley agree with Modi in predicting it will overtake Japan and Germany to reach third position by 2027.
India boomed during Modi’s first two terms as prime minister, leapfrogging the United Kingdom to become the world’s fifth biggest economy and growing by 8.2% in the last fiscal year.
[8] [1] [11] Among others, India has also experienced an economic boom since the implementation of economic liberalisation in the early 1990s. [ 12 ] The first list includes estimates compiled by the International Monetary Fund 's World Economic Outlook, the second list shows the World Bank 's data, and the third list includes data compiled by ...
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 119th by GDP (PPP). [58]
India is the largest economy in the region (US$4.11 trillion) and makes up almost 80% of the South Asian economy; it is the world's 5th largest economy in nominal terms and the world's 3rd largest economy by purchasing power adjusted exchange rates (US$14.26 trillion). [28] India is the member of G-20 major economies and BRICS from the region ...
Analysts at Jefferies expect the country to become the world’s third-largest economy by 2027, up from fifth currently. India is also widely seen as an alternative to China for countries and ...
Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight. India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce [13] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a ...