New Delhi: India has emerged as the world’s fastest-growing economy, leaving nations like the United States, China and Russia struggling to catch up. The post-COVID recovery of the Indian economy has astonished global observers, from the World Bank to the International Monetary Fund. Now Harvard economist Jason Furman has shared a chart, which illustrates India’s extraordinary pace of growth.
The chart shows that while major economies are still grappling with pandemic aftershocks, India has achieved a rebound, consistently maintaining momentum.
Jason Furman shared the comparative growth chart on X (formerly Twitter), highlighting India’s performance from 2019 through the third quarter of 2025. It contrasts India’s nominal GDP trends before COVID-19 with current data, along with major economies such as the United States, the Eurozone, China and Russia.
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The data shows India rising steadily, reaching projected GDP growth of +5% by mid-2025, making it the only major economy maintaining continuous upward momentum.
The chart shows that India began its post-pandemic recovery from a low point in 2020 and surpassed its pre-COVID trendline by 2022. By 2024, its growth reached +3%, and projections suggest +5% by the third quarter of 2025.
Furman emphasised that India’s growth is not a one-time surge but a result of structural strength. He pointed to digital infrastructure, investment reforms and a stable macroeconomic environment as key factors driving domestic consumption and investment, allowing India to continue growing even amid global challenges.
Other major economies, in contrast, are still facing hurdles. The Eurozone experienced the deepest contraction during the pandemic at -25%, while China faced a decline of -10%. Russia’s economy fell by -8%, and the United States and India both saw a drop of -5%.
Although recovery measures have helped the United States reach an estimated growth rate of around 2% by 2025, India’s rapid pace far outshines it. China’s recovery remains constrained due to the long-lasting effects of zero-COVID policies and real estate crises, with projected growth of -5% in 2025.
Russia continues to struggle near -8%, influenced heavily by the ongoing war with Ukraine, while the Eurozone is projected to achieve only -3% growth.
Global rating agencies are also expressing confidence in India’s continued momentum. The Investment Information and Credit Rating Agency (ICRA) expects India’s GDP growth to remain strong at 7% in the second quarter of FY 2026, following a 7.8% rise in the first quarter.
GVA projects 7.1%, while Moody’s predicts 7% GDP growth for 2025 and 6.4% for 2026.
India’s post-pandemic economic story is now a benchmark for resilience and rapid recovery. While the world’s leading economies are still managing the lingering effects of COVID-19, India has firmly established itself as a powerhouse, combining policy reforms, robust domestic demand and structural stability to surge ahead on the global stage.
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