Piyush Goyal hails India’s doubling of GDP to $4.3 trillion in last 10 years

New Delhi, March 23 (IANS) Commerce and Industry Minister Piyush Goyal on Sunday hailed India’s "outstanding" milestone of doubling its Gross Domestic Product (GDP) in the last 10 years with a 105 per cent leap from $2.1 trillion in 2015 to $4.3 trillion in 2025, based on the latest IMF data. 

The Minister highlighted that the growth rate surpasses major global economies like the United States, China, Germany, the United Kingdom, and France.

"Global shift is real! PM Narendra Modi has led India to double its GDP in the last decade, positioning it to become the third largest economy globally soon," Minister Goyal posted on X.

According to the IMF, India has achieved a significant economic milestone by doubling its GDP from $2.1 trillion in 2015 to $4.3 trillion in 2025 - an unprecedented growth rate among major global economies.

Inflation-adjusted data from the International Monetary Fund (IMF) shows India recorded a 77 per cent GDP growth over the decade, rising from $2.4 trillion in 2015 to $4.3 trillion in 2025. This rapid expansion has propelled India into the ranks of the world’s top five economies, positioning it to surpass Japan in 2025 and potentially overtake Germany by 2027.

Meanwhile, China posted 74 per cent GDP growth over the same period, increasing from $11.2 trillion in 2015 to $19.5 trillion in 2025. However, earlier projections that China would overtake the United States as the world’s largest economy have not materialised, with economic headwinds stemming from the pandemic and ongoing property sector challenges.

The United States retained its status as the world’s largest economy, with its GDP expanding from $23.7 trillion in 2015 to $30.3 trillion in 2025, representing a 28 per cent growth rate. Though slower than Asian economies, the US remains a dominant force in global economic stability.

Other major economies, including the UK, France, Germany, and Japan, posted moderate GDP growth, ranging from 6 per cent to 14 per cent over the decade. Despite their relatively slower expansion, these nations continue to hold significant influence in global trade and finance, the IMF said.

Brazil recorded the lowest GDP growth among the top ten economies, with only an 8 per cent increase from $2.1 trillion in 2015 to $2.3 trillion in 2025. The country’s economic struggles were exacerbated by the 2014 commodity crash.