India’s GDP doubles to USD 4.27 trillion over the last decade: IMF

New Delhi: The International Monetary Fund (IMF) reports, India's overall economic output has effectively doubled over the past decade. India's nominal GDP, measured in current prices, has risen from $2.1 trillion in 2015 to an estimated $4.27 trillion by 2025, representing a complete 100% expansion over the last decade.

The IMF's report detailed India's real GDP growth for the current year at 6.5%, signifying robust and consistent economic advancement. Real GDP growth, which reflects the increase in the nation's production of goods and services adjusted for inflation, positions India as one of the world's most rapidly expanding economies.

This rapid expansion has propelled India into the ranks of the world’s top five economies, positioning it to surpass Japan in 2025 and potentially overtake Germany by 2027.

Meanwhile, China posted 74 per cent GDP growth over the same period, increasing from $11.2 trillion in 2015 to $19.5 trillion in 2025.

India has outpaced all the nations in the G7, the G20, and the BRICS by more than doubling its size of economy.

Commerce and Industry Minister Piyush Goyal on Sunday hailed India’s “outstanding” milestone of doubling its GDP in the last 10 years.

“Global shift is real! PM Narendra Modi has led India to double its GDP in the last decade, positioning it to become the third largest economy globally soon,” Minister Goyal posted on X.

Global shift is real!

PM @NarendraModi ji has led India to double its GDP in the last decade, positioning it to become the third largest economy globally soon.

🗞️ https://t.co/w7KK7xNBzr

Via NaMo App pic.twitter.com/d3ecyJdd7N

— Piyush Goyal (@PiyushGoyal) March 23, 2025

The IMF projects India's inflation rate to remain at 4.1%, staying within the Reserve Bank of India's (RBI) targeted range of 4 to 6%. Inflation is a vital economic metric as it directly affects consumer purchasing power and the cost of living.

The IMF's data also revealed that India's GDP per capita, which quantifies the average income of a citizen based on total economic output, is estimated to be $11,940 (or 11.94 thousand international dollars in purchasing power parity terms). This indicates a positive trend in individual wealth and living standards over time.

The data highlighted that India's total government debt currently stands at 82.6% of its GDP. This signifies that the government's total borrowing is relatively substantial when compared to the country's overall economic production.

While a high debt ratio can create challenges in managing fiscal policies, India has managed to sustain its economic momentum. The government remains dedicated to achieving its established fiscal goals.

The latest IMF figures highlight India's strong economic resilience, with a sharp rise in GDP, steady real growth, and improving income levels. However, factors like inflation and high public debt remain key areas to monitor in the coming years.

India's GDP growth trajectory

India took 60 years for its GDP to reach the first trillion-dollar mark (in 2007). From $1 trillion to $2 trillion took 7 years (in 2014). Despite COVID-19, India reached the $3 trillion mark in 2021. The journey from $3 trillion to $4 trillion took just 4 years.

At this pace, should the progression continue the way it is, India is poised to add a trillion dollars to its GDP every 1.5 years, and could likely become a $10 trillion economy by the end of 2032.