Modi Government's Economic Policies Elevate India to Fourth-Largest Economy Globally

India has emerged as the fourth-largest economy globally, attributed to the Modi government's economic strategies, according to former Union minister Anurag Thakur. He highlighted that India's GDP now stands at USD 4.18 trillion, surpassing Japan. The nation is poised to overtake Germany for the third spot within the next 2.5 to 3 years, with a projected GDP of USD 7.3 trillion by 2030.

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Despite global uncertainties, India's economy has shown resilience and growth. In the second quarter of FY26, GDP growth reached a six-quarter high of 8.2 per cent. This growth rate exceeded the previous quarter's 7.8 per cent, driven by robust domestic demand amid international challenges.

Economic Growth and Global Standing

The Reserve Bank of India (RBI) has revised its GDP growth forecast for FY26 from 6.8 per cent to 7.3 per cent. This adjustment reflects India's steady progress in establishing a strong economic presence globally. Thakur emphasised that these figures demonstrate India's forward momentum in the economic sphere.

India's foreign exchange reserves have also seen significant growth, reaching an unprecedented level of over USD 700 billion. This marks a substantial increase from approximately USD 311 billion during the UPA government's tenure in 2014, indicating more than doubling under the Modi administration.

Political Criticism Amid Economic Progress

Anurag Thakur criticised Congress leader Rahul Gandhi for allegedly undermining India's economic achievements abroad. Thakur accused Gandhi of focusing on portraying India negatively on international platforms, despite the country's economic advancements under the current government.

Thakur stated, "Today, India is progressing towards becoming the world's third-largest economy, but still, Congress leader Rahul Gandhi is solely focused on defaming India and portraying the Indian economy as a failing and collapsing economy abroad, demonstrating his anti-India agenda."

India's rapid economic growth continues to defy expectations even amidst global instability and policy uncertainties. The nation's consistent development trajectory highlights its potential to further solidify its position on the world stage in the coming years.

With inputs from PTI