India is now world fifth highest ranking economy country in 2023. India is the fifth-largest economy, with a GDP of over USD 3.7 trillion. It is estimated that India will surpass Germany and Japan's GDP by 2030. India GDP growth in FY 23-24 is 6.3% with GDP per capita of $2,612 ( nominal; estimated 23) and $9,183 (PPP; estimated 23).
Now let's delve into further future projection of India's GDP:-
India's nominal GDP measured in USD terms is forecast to rise from USD 3.5 trillion in 2022 to USD 7.3 trillion by 2030. This rapid pace of economic expansion would result in the size of the Indian GDP exceeding Japanese GDP by 2030, making India the second largest economy in the Asia-Pacific region.
India's ranking in 2050 GDP projections:-
This chart shows real GDP calculated till 2050. This chart is estimated by experts.
| Rank | Country | Real GDP in 2050 (USD trillions) |
|---|---|---|
| 1 | 🇨🇳 China | $41.9 |
| 2 | 🇺🇸 US | $37.2 |
| 3 | 🇮🇳 India | $22.2 |
| 4 | 🇮🇩 Indonesia | $6.3 |
| 5 | 🇩🇪 Germany | $6.2 |
| 6 | 🇯🇵 Japan | $6.0 |
| 7 | 🇬🇧 UK | $5.2 |
| 8 | 🇧🇷 Brazil | $4.9 |
| 9 | 🇫🇷 France | $4.6 |
| 10 | 🇷🇺 Russia | $4.5 |
| 11 | 🇲🇽 Mexico | $4.2 |
| 12 | 🇪🇬 Egypt | $3.5 |
| 13 | 🇸🇦 Saudi Arabia | $3.5 |
| 14 | 🇨🇦 Canada | $3.4 |
| 15 | 🇳🇬 Nigeria | $3.4 |
IMF and Goldman Sachs have made predictions for the top 10 economies by 2075. China is projected to lead with a GDP of $57 trillion, followed by India at $52.5 trillion and the US at $51.5 trillion. The list also includes Indonesia, Nigeria, Brazil, Germany, UK, Japan, and Russia
India will surpass Germany, Japan and United States by 2075 to become second largest economy in the world. This shows how fast India is developing. This will create many opportunities for people living in India and this will help India to become next superpower country in the world.
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