NEW DELHI– India is set to emerge as the world’s third-largest economy by 2030 with a projected GDP of $7.3 trillion, the Union Government said on Saturday.
“India is projected to reach a GDP of Rs 4,26,45,000 crore ($5 trillion) by 2027 and is on course to surpass Germany by 2028. By 2030, India will become the world’s third-largest economy with a projected GDP of $7.3 trillion,” the government statement said.
The announcement comes as India’s GDP expanded by a robust 7.8 per cent in the April-June quarter of FY 2025-26, compared to 6.5 per cent growth during the same period last year, according to data from the Ministry of Statistics.
“India’s strong services activity has helped GDP growth comfortably beat expectations for the second quarter in a row, rising to an impressive high of 7.8 per cent for April-June 2025. This swift growth consolidates India’s position as the world’s fastest-growing major economy,” the statement noted, attributing the momentum to “decisive governance, visionary reforms, and active global engagement.”
The services sector posted a sharp expansion of 9.3 per cent, led by trade, hotels, transport, communication, financial and real estate services, and public administration. Gross Value Added (GVA), considered a more accurate indicator of economic activity, rose 7.6 per cent in the quarter.
Economic Affairs Secretary Anuradha Thakur said the performance underscored the resilience of India’s economy. “On the supply side, we have seen all-round growth in manufacturing, construction, and services, while agriculture has also shown robust expansion. The rabi harvest and kharif sowing have both exceeded last year’s levels,” she said.
She added that demand has been driven largely by domestic factors, while net exports played a limited role. “We have a good buffer stock, favorable rainfall, and buoyant consumer sentiment. With easing inflation and higher employment, private consumption is expected to further support growth in the coming months,” Thakur said. (Source: IANS)
