India GDP 3.75 trillion dollars in 2023.
India GDP 3.75 trillion dollars in 2023: India’s gross domestic product has touched the $3.75 trillion-mark in 2023 so far from around $2 trillion in 2014, said finance minister Nirmala Sitharaman.
FM Sitharaman has called India a ‘bright spot’ in the global economy, highlighting its position as the fifth largest economy in the world. At current prices, India’s GDP ranks above the UK ($3,159 billion), France ($2,924 billion), Canada ($2,089 billion), Russia ($1,840 billion), and Australia ($1,550 billion) at current prices.
India GDP 3.75 trillion dollars in 2023: According to a tweet from the office of Finance Minister Nirmala Sitharaman on Monday
India GDP 3.75 trillion dollars in 2023: According to a tweet from the office of Finance Minister Nirmala Sitharaman on Monday, India’s gross domestic product (GDP) increased to $3.75 trillion in 2023 from about $2 trillion in 2014.
The tweet said that India’s economy had risen from tenth to fifth in the globe. Sitharaman’s office emphasised the nine years of changes under the leadership of Narendra Modi and added: “India is now being called a bright spot in the global economy.”
India GDP 3.75 trillion dollars in 2023.
China, the United States, Germany, and Japan are the four nations with GDPs that, at current exchange rates, surpass India’s. In terms of GDP figures, India has exceeded the United Kingdom, France, Canada, Russia, and Australia.
Last year, India surpassed UK to become the fifth largest economy and is now only behind US ($26,854 billion), China ($19,374 billion), Japan ($4,410 billion), and Germany ($4,309 billion) according to projections by the International Monetary Fund (IMF).
India GDP 3.75 trillion dollars in 2023: Recent government data revealed that India’s GDP grew by 6.1 per cent in the fourth quarter of fiscal year 2022-23 beating Street estimates. For the entire fiscal 2022-23, the growth rate came in at 7.2 per cent underscoring the country’s economic resilience amid geopolitical conflicts and global headwinds.
Additionally, Chief Economic Advisor Dr V Anantha Nageswaran also lauded the 7.2 per cent growth recorded in the last fiscal and said that this is the first reliable estimate of GDP growth and ‘as more and more data become available, further revision will be for upside from 7.2 per cent.’
India’s GDP at current prices ranks above the UK ($3,159 billion), France ($2,924 billion), Canada ($2,089 billion), Russia ($1,840 billion), and Australia ($1,550 billion) at current prices.
The tweet read: “India GDP 3.75 trillion dollars in 2023, from around $2 trillion in 2014; moving from 10th largest to 5th largest economy in the world. India is now being called a Bright Spot in the global economy.”
India GDP 3.75 trillion dollars in 2023: Meanwhile, ratings agency Moody’s on Sunday forecasted Indian economy to grow at 6 per cent to 6.3 per cent in the June quarter. Moody’s prediction is much lower than the 8 per cent growth predicted by the Reserve Bank of India (RBI) last week. Moody’s Investors Service Associate Managing Director Gene Fang told PTI in an interview: ”We expect India’s growth to come in around 6-6.3 per cent in the first quarter of the current fiscal year, which remains relatively flat from the 6.1 per cent recorded in the final quarter of fiscal 2022-23”.
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