- Atul Thakur
- TNNUpdated: Aug 1, 2023, 14:44 IST IST
On July 26, PM Narendra Modi said India will be among the world’s top three economies in his next term. Here’s why the goal is achievable, and the pitfalls India needs to avoid
In 2014, India was a $2trn economy and ranked 10th in the world. A year later, it jumped to seventh place. By 2017, it was No. 6, and finished 2021 at No. 5. Now, International Monetary Fund (IMF) projections show that by 2027 it will be the world’s third-largest economy behind the US and China. There are some caveats though.
To reach the third position, India will have to grow at more than 8% per year in dollar terms between 2024 and 2027. However, continuous growth at such high rates has not happened in recent years.
To reach the third position, India will have to grow at more than 8% per year in dollar terms between 2024 and 2027. However, continuous growth at such high rates has not happened in recent years.
