India’s GDP Close to $4 Trillion Milestone, But Not Yet Reached

“India on a rolling basis won’t hit $4 trillion till late 2024-early 2025,” Barclays India chief economist Rahul Bajoria, said in his personal account on social media platform X (formerly Twitter). This fiscal year, India’s nominal GDP is expected to be around Rs 300 trillion, which implies a GDP of about $3.65 trillion on current exchange rates, he said.

The National Statistical Office computes India’s GDP on a quarterly basis.

The numbers for the July-September 2023 quarter are to be released on Nov. 31. According to latest data available for the April-June quarter, real GDP is estimated to attain a level of Rs 40.37 lakh crore, growing by 7.8% from a year earlier. Nominal GDP or GDP at current prices is estimated at Rs 70.67 lakh crore, growing 8%.

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