India’s GDP will reach USD 5 trillion in 2026: Panagariya

Mumbai, Dec 15 (PTI) India will become the worlds third largest economy by 2026 as its GDP in current dollar terms will reach USD 5 trillion in that year and further rise to USD 5.5 trillion in 2027, former Niti Aayog Vice Chairman Arvind Panagariya said on Friday...

Delivering the 18th C D Deshmukh Memorial Lecture titled India at 125: Reclaiming the Lost Glory and Returning the Global Economy to the Old Normal, he said it is unlikely that GDP in current dollar terms of either Germany or Japan will cross USD 5 trillion-mark in the coming three years...

Japan will have to sustain a growth rate of 3.5 per cent in current dollar terms to reach USD 5.03 trillion in 2027 from its 2022 level of USD 4.2 trillion, he said...

At the 4 per cent annual growth rate, German GDP will rise from USD 4.4 trillion in 2023 to USD 4.9 trillion in 2026 and USD 5.1 trillion in 2027, he said.. Given these estimates, how soon can the Indian GDP cross the GDPs of these two countries?.. that is the question, Panagariya said.. India has grown at an annual average rate of 10.22 per cent in current dollar terms...

I am confident we are on the cusp of a new chapter in Indias history, Panagariya said.. While the next two decades will see the fastest transformation in the countrys history, given the large economic base already established and a high expected growth rate, the following three will witness unsurpassed and steadily rising prosperity, he said.. Chintaman Dwarakanath Deshmukh was the first Indian to serve as the Governor of the Reserve Bank of India..

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