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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’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.
Gross domestic product (GDP) in the world’s fastest growing major economy surged 8.4% in the final three months of 2023 compared with a year prior, up from growth of 7.6% in the June-to ...
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 125th by GDP (PPP). [62]
A potential superpower is a sovereign state or other polity that is speculated to be or have the potential to become a superpower; a sovereign state or supranational union that holds a dominant position characterized by the ability to exert influence and project power on a global scale through economic, military, technological, political, or cultural means.
[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 ...
Indian prime minister appeals for peace in conflict-ridden Manipur as critics accuse him of using national day to deliver ‘distortions, lies, exaggerations and vague promises’
The economy of India is the fifth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP). [80] The country is classified as a newly industrialized country, one of the G-20 major economies, a member of BRICS and a developing economy with an average growth rate of approximately 7% over the last two decades.