India's GDP reaches $3.75 trillion - Union Finance Minister Sitharaman

New Delhi – Union Finance Minister Nirmala Sitharaman announced that India’s Gross Domestic Product, i.e. GDP, has reached $3.75 trillion. By sharing this information on social media, the Finance Minister has drawn attention to the issue that the US, China, Japan and Germany are ahead of India. India, which had a GDP of $2 trillion in 2014, has leapfrogged to become an economy of $3.75 trillion in just nine years. This performance of India has been quite huge. Admitting this, Sitharaman said that India was emerging as a bright spot in the global economy.

India has become the fifth-largest economy in the world. The US ($ 26.8 trillion), China ($ 19.3 trillion), Japan ($ 4.4 trillion) and Germany ($ 4.3 trillion) GDP of these four countries is ahead of India. By admitting this, Finance Minister Sitharaman expressed satisfaction over the economic performance shown by India in the last nine years. The performance of the Indian economy will be as great; such testimony is being given for the future too. Principal Economic Advisor V. Anantha Nageswaran also claimed that India would make economic progress at a staggering pace. At the same time, international financial institutions have been expressing more caution regarding the performance of the Indian economy, claimed Nageswaran. He says that India will progress much faster than these financial institutions say.

Nageswaran also noted that India’s foreign exchange reserves have now reached close to $600 billion. Because of this, the Indian economy will be stable and dynamic simultaneously, claimed the Principal Economic Advisor. The Union Ministry of Finance said that when an economic crisis surrounds the whole world, the Indian economy has been performing very strongly in such a situation. Also, the Ministry of Finance shared that India’s exports have increased by 150% in the last nine years. India’s exports have increased from $310 billion in the fiscal year 2014-15 and reached $775 billion in the fiscal year 2022-23, said the Finance Ministry.

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