Is India on Track to Become an $8 Trillion Economy?
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Synopsis
As India’s economy continues to expand at a remarkable rate of 6.5%, it is set to reach an impressive $8 trillion. Union Minister Hardeep Puri discusses the significance of this growth for citizens and the global economy, highlighting the country's preparedness amidst international tensions.
Key Takeaways
- India's economy is growing at an annual rate of 6.5 percent.
- It is on track to become an $8 trillion economy.
- Economic growth enhances citizen welfare.
- India's GDP is expected to reach $4.187 trillion by 2025.
- There is no fuel shortage in India amidst rising tensions.
New Delhi, June 18 (NationPress) India’s economy is currently expanding at a steady annual rate of 6.5 percent, positioning itself to achieve an $8 trillion economy in the near future, according to Union Minister for Petroleum and Natural Gas Hardeep Singh Puri.
In an interview with IANS, the minister stated, “India has successfully transitioned from a $2 trillion to a $4 trillion economy, and with our ongoing growth rate of 6.5 percent, we are on the path to becoming an $8 trillion economy imminently.”
He highlighted that economic progress directly enhances the lives of the citizens.
“As the economy flourishes, it stimulates economic activities and elevates per capita income. In our globally connected world, this also fosters greater trade in goods and services,” he shared with IANS.
Puri also indicated that a robust economy bolsters a nation's global influence and reliability.
The International Monetary Fund (IMF) in its World Economic Outlook published in April 2025 predicts that India’s nominal GDP will reach $4.187 trillion in 2025, slightly exceeding Japan’s anticipated GDP of $4.186 trillion.
The IMF forecasts that India might overtake Germany to become the world’s third-largest economy soon.
By 2027, India’s GDP is estimated to surpass the $5 trillion threshold, potentially hitting $5.069 trillion, and by 2028, it could rise to $5.584 trillion—in contrast to Germany’s projected GDP of $5.251 trillion at that time, as per IMF estimates.
In related news, the minister reassured the public that India has ample supplies of petrol and diesel, alleviating concerns amid rising tensions between Israel and Iran.
“I want to clarify that there is no shortage of petrol and diesel in our country. Citizens need not worry,” he told IANS.
He emphasized that India is adequately equipped to manage the situation and guarantee a consistent fuel supply.
Point of View
The ongoing growth of India's economy signifies not only enhanced living standards for its citizens but also strengthens India's position on the global stage. With a strategic focus on sustainable progress, the country is well-prepared for future challenges.
NationPress
18/06/2025
Frequently Asked Questions
What is India’s current economic growth rate?
India is currently experiencing a growth rate of 6.5 percent annually.
When is India expected to reach an $8 trillion economy?
India is projected to achieve an $8 trillion economy in the near future.
What has been the recent growth of India’s GDP?
India's GDP has grown from $2 trillion to $4 trillion recently.
How does economic growth benefit citizens?
Economic growth increases per capita income and enhances overall economic activity, benefitting citizens directly.
Is there a fuel shortage in India amid geopolitical tensions?
No, Union Minister Hardeep Puri has confirmed that there is no shortage of petrol and diesel in India.
