The Modi government’s effective economic policies have made India the world’s fourth-largest economy, former Union minister Anurag Thakur said on Thursday.
In a statement issued here, he said that due to the unprecedented reforms and effective economic policies implemented by Prime Minister Narendra Modi in the last 11 years, India has consistently remained one of the fastest-growing major economies, and these reforms have made India the world’s fourth-largest economy.
Today, with a Gross domestic Product (GDP) of USD 4.18 trillion, India has surpassed Japan to become the world’s fourth largest economy and the Indian economy is on the verge of overtaking Germany for the third position in the next 2.5 to 3 years, with a projected GDP of USD 7.3 trillion by 2030, the BJP Member of Parliament from Hamirpur constituency said.
This pace of economic growth has exceeded expectations, with GDP reaching a six-quarter high at 8.2 per cent in the second quarter of FY26. Despite global instability and international pressures, India has moved forward strongly on the path of development, he added. He said that amid global trade and policy uncertainties, India’s real GDP grew at a high pace in the July-September quarter of FY26, driven by strong domestic demand. This is higher than the 7.8 per cent growth in the previous quarter.
The RBI has revised its GDP growth forecast for India for FY26 upwards from the previous 6.8 per cent to 7.3 per cent, he said, adding that these figures demonstrate that India is steadily moving forward in the economic sphere and establishing a strong position on the world stage. The BJP leader said that India’s foreign exchange reserves have reached an all-time high, crossing the USD 700 billion mark for the first time. This is a significant increase from the approximately USD 311 billion in foreign exchange reserves during the UPA government’s tenure in 2014.
