New Delhi: India’s economy stands at the threshold of history, poised to surpass the $4 trillion mark this fiscal year, according to Chief Economic Advisor (CEA) V. Anantha Nageshwaran. He emphasised that India, which is presently the world’s fifth-largest economy with a GDP of $3.9 trillion, is on track to achieve unprecedented growth despite a turbulent global landscape.
He pointed out that geopolitical changes are occurring at a rapid pace and stressed that sustained economic expansion is critical to maintain India’s influence and standing on the global stage.
Overcoming Global Hurdles
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This achievement comes even as India navigated international challenges, including tariffs imposed by the United States under President Donald Trump. Indian goods faced tariffs as high as 50%, including 25% on certain imports, because of importing sanctioned Russian oil.
India’s strategic policies and trade maneuvering have largely neutralised the impact of these tariffs, opening new markets and opportunities in the process.
Nageshwaran highlighted that these measures surprised even Washington, which now recognises that its calculations regarding New Delhi had been underestimated.
Good News For The Current Fiscal Year
Speaking at the IVCA Green Returns Summit 2025, Nageshwaran said, “During this fiscal year, India will grow from a $3.9 trillion to a $4 trillion economy.”
“To make the economy robust, address energy transitions, environmental challenges, climate change and climate instability, we must align every effort with our short- and medium-term priorities,” he said.
The CEA also highlighted India’s commitment to combating climate change. “We are fully aware of the potential consequences of global warming and climate change. That is why, as a nation, we are committed to achieving net-zero emissions by 2070,” he said.
He explained that net-zero means balancing greenhouse gas emissions with measures to remove an equivalent amount from the atmosphere.
A Vision For The Next Decade And Beyond
Earlier this year, Arvind Panagariya, chair of the 16th Finance Commission, projected that India could achieve developed nation status by 2047, based on decades of stable economic performance.
He stated that if present growth trends continue, the country could become a $10 trillion economy within the next decade.
Central to this vision is the ‘Developed India’ outlook, which aims for a substantial increase in per capita income.
Currently around $2,570, he estimates that per capita income could rise to $14,000 by 2047, representing an annual growth rate of approximately 7.3%.
This figure reflects the income that the average citizen would receive, highlighting the broader impact of economic growth on the population.
India’s economic journey, according to experts, is not only about numbers, it is about building global credibility, creating resilience against international pressures and securing a prosperous future for its citizens.
Despite external hurdles and geopolitical uncertainties, the country’s path toward historical milestones remains steadfast.
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