Did the Indian economy hit the $4 trillion mark already?
In the absence of any official confirmation, experts and commentators have been pitching in their opinions. Here is our take on the subject.
The widely shared screenshot claims we did, while multiple people have pointed out how the information hasn’t been verified by any official source yet.
Where was the screenshot from?
From this YouTube channel: [Live] GDP live
In June 2023 (end of the first quarter of FY 23–24), India’s FM, Nirmala Sitaraman had said that the country’s GDP had touched the $3.75 trillion mark.
A cursory reading of the IMF’s World Economic Outlook data substantiates the same.
Further, GDP growth projections for the 2nd quarter of FY23–24 suggest a 6-7% growth. Even if we were to go with the conservative number of 6% growth in the second quarter, we would have reached about $3.9 trillion by the end of September. It would therefore not be a major leap for us to cross the $4 trillion mark toward the end of November. Even the IMF data projects a $4.1 trillion economy for India by the end of this FY. While the official sources are yet to confirm the news, and rightfully so, given the lack of authentic official data at this stage, given the growth projections, crossing the $4 trillion mark at worst would be done in a couple of months, and at best has already been achieved.