India to be a USD 5 trillion economy by FY28; reach USD 30 trillion by 2047: FM

New Delhi, January 10, 2024.

India will become the third largest economy by 2027-28, with a GDP of over USD 5 trillion, Finance Minister Nirmala Sitharaman said on Wednesday.

Even going by conservative estimates, the size of the Indian economy will be USD 30 trillion by 2047, she noted.

“It is possible that we will be the third largest economy by 2027-28, and our GDP will cross USD 5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least USD 30 trillion in terms of economy,” Sitharaman said at the Vibrant Gujarat summit.