A driver of economic advancement

In recent days, a surge of media attention has focused on the growing size of India's economy and how it compares to other major global economies.

- DR SUROVI GUPTA, ASANSOL GIRLS' COLLEGE

Much of this discourse stems from the International Monetary Fund's (IMF) latest estimates of the Gross Domestic Product (GDP) for 2024, along with its projections extending from 2025 to 2030. According to these projections, India's GDP in 2025 is expected to reach $4,187.03 billion, just ahead of Japan's $4,186.43 billion. With this, India is poised to become the world's fourth-largest economy, trailing only the United States, China, and Germany. Although there is ongoing debate about whether GDP is the most appropriate metric to measure economic progress, accepting it for analytical purposes opens the door to understanding the key contributors behind India's impressive economic momentum.