Is the Indian economy now worth $4 trillion? No official statement yet

Many people, including prominent BJP officials, have published an unsubstantiated screengrab from the live monitoring GDP stream.

“On the course towards $5 trillion Economy – Modi Ki Guarantee,” Reddy is the head of the Telangana BJP in addition to serving as the Union Minister for Culture, Tourism, and Northeast Region Development.

Regarding the widely shared social media post stating that India’s GDP had surpassed $4 trillion, neither the finance ministry nor the National Statistical Office responded right away.

According to well-placed sources, India was still a long way from reaching that milestone and the viral report was false.

Many people, including prominent BJP officials, have published an unsubstantiated screengrab from the live monitoring GDP stream for all nations based on data from the International Monetary Fund on social media. Since data from different economic sectors are released later than GDP figures for individual nations, it is exceedingly challenging to follow GDP figures in real time.

“Congratulations, India. Another two years to go before India becomes the 3rd largest nation in terms of Global GDP by overtaking Japan at $4.4 and Germany at $4.3 trillion.

“The Tricolour surge continues! Jai Hind,” Adani posted on the social networking site X.

Numerous political figures celebrated the success, including Devendra Fadnavis, the deputy chief minister of Maharashtra.

“India’s moment of global glory as our GDP crosses $4 trillion.

“The rise of #NewIndia under PM @narendramodi ji’s leadership is truly unparalleled,” Jal Shakti Minister Gajendra Singh Shekhawat expressed on X.

G Kishan Reddy, another Cabinet minister, wrote in a post, “Congratulations As The GDP Touches $4 trillion For The First Time and Marches Ahead.

“This is what dynamic, visionary leadership looks like!” said Fadnavis in another post. “That’s what our #NewIndia progressing beautifully looks like ! Congratulations to my fellow Indians as our Nation crosses the $ 4 trillion GDP milestone! More power to you, more respect to you Hon PM @narendramodi ji.”

The head of the BJP in Andhra Pradesh, D Purandeswari, congratulated the country, “Congratulations BHARAT on becoming a $4 trillion Dollar Economy ! This phenomenal achievement has been made possible by the path breaking reforms introduced and implemented by Prime Minister Shri @narendramodi Ji Government in the last 9.5 years.”

India continued to be the fastest-growing major economy in the world with a GDP growth of 7.8% during the April–June 2023–2024 quarter, the highest in the previous four quarters, thanks to double-digit growth in the services sector.

China’s 6.3% GDP growth during the same quarter is less than the 7.8% GDP growth in the June quarter.

Data from the National Statistical Office (NSO) released in August show that the gross value added (GVA) of the agriculture sector increased by 3.5% from April to June 2022–2023 (2.4%).

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Dr. Shubhangi Jha

Avid reader, infrequent writer, evolving

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