INDIA IS MOVING TOWARD BECOMING THE THIRD BIGGEST ECONOMY IN THE WORLD: PM MODI

By 2025–2026, India would rank fourth in GDP size and would match Germany's in size to become the fourth-largest economy. However, by 2021–2022, it would miss being the fifth-largest economy by US$ 10 billion and fail to surpass the UK.?

During the year 2027-28 (FY28), the International Monetary Fund (IMF) predicts that it will surpass Japan in growth and move up to third place)

Even as the world goes through a critical time, India is on its way to becoming the third largest economy in the world, Prime Minister Narendra Modi said on Friday; after dedicating a fertiliser plant to the country and launching various projects here.?

PM Modi said that experts have predicted that the growth witnessed by the country after 1990, over the past three decades, will happen within the next eight years due to the changes that have occurred.

As the Finance Minister had expected, India's economy will not reach US$ 5 trillion by 2026–2027, but it will come close; in that year, it would total US$ 4.94 trillion; the next year, it would reach US$ 5.36 trillion, surpassing Japan's US$ 5.17 trillion, making it India's economy third in the world.

"Over the past two or three years, the world has been fighting the Corona pandemic. On the other hand, there are frictions, military actions are being conducted, and the effects of these actions are also impacting the country," Modi said.

"Under these critical circumstances, all over the world are hearing one more thing. Experts say India will soon become the third largest economy in the world and that it is moving quickly in that direction." the Prime Minister said.

Whether it is government processes, infrastructure, or ease of doing business, the past eight years have seen a change in governance, thought process, and approach, which is inspiring India's "aspirational society".