India's GDP crosses $4 trillion mark: Reports
What's the story
India has made its way into the top four nations globally in terms of gross domestic product (GDP) after crossing the $4 trillion mark on Sunday, according to reports.
However, neither the National Statistical Office nor the Finance Ministry have formally acknowledged whether the mark has been crossed.
Highly placed sources said that India was still short of that milestone, and the widely circulated report was false, according to PTI.
Details
Looking at how India's economy grew
India's economy expanded by 7.8% in the first three months of the financial year, and Reserve Bank of India (RBI) Governor Shaktikanta Das on October 31 expressed confidence in the domestic economy.
"Looking at the momentum of economic activity—a few early data points have come in—I expect Q2 GDP numbers, which will come at the end of November, in all probability, will surprise on the upside," he stated.
India's GDP touched the $3.75 trillion mark in June.
What Next?
Reaction to India's GDP crossing $4 trillion mark
Several key personalities lauded India's landmark GDP achievement. One of them was the founder and chairman of the Adani Group, Gautam Adani.
Taking to X (formerly Twitter), Adani said, "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 trillion and Germany at $4.3 trillion." "The tricolor surge continues! Jai Hind," he concluded.
However, the tweet appears to have been removed now.
More details
More reactions to India's historic achievement
Meanwhile, Maharashtra Deputy CM Devendra Fadnavis congratulated PM Narendra Modi for the accomplishment. "This is what dynamic, visionary leadership looks like! That's what our "New India" progressing beautifully looks like!" Fadnavis tweeted.
Union Minister Arjun Ram Meghwal also tweeted,"India achieves a historic milestone crossing $4 Trillion in GDP, marking a significant moment in our global presence."
Most of the congratulatory tweets were based on a purported screenshot of a live GDP tracker showing India touching the milestone.
Twitter Post
Purported screenshot of India's GDP crossing $4 trillion
This is what dynamic, visionary leadership looks like !
— Devendra Fadnavis (@Dev_Fadnavis) November 19, 2023
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 !… pic.twitter.com/wMgv3xTJXa
Know more
Know about India's plan to become $5 trillion economy
The Indian government's plan to make India a $5 trillion economy contains measures like concentrating on inclusive growth, promoting the digital economy, technology-enabled development, fintech, energy transition, climate action, and relying on a virtuous investment and growth cycle.
The 2023-24 Union Budget also took further initiatives to sustain the high growth of India's economy, Minister of State for Finance Pankaj Chaudhary said in August.