Indian Economy News

India’s GDP touched the US$ 3.75 trillion mark in 2023: Ms. Nirmala Sitharaman

  • IBEF
  • June 13, 2023

Union Finance Minister, Ms. Nirmala Sitharaman informed on June 12, 2023, that the gross domestic product (GDP) of India has touched the US$ 3.75 trillion mark in 2023, up from around US$ 2 trillion in 2014.

India's economy has been ranked as the fifth largest in the world from the tenth largest, according to the Finance Ministry. In terms of current prices, India's GDP was US$ 3,737 billion, which ranks above the UK (US$ 3,159 billion), France (US$ 2,924 billion), Canada (US$ 2,089 billion), Russia (US$ 1,840 billion), and Australia (US$ 1,550 billion) at current prices.

As per the Finance Ministry, India is now being called a ‘Bright Spot’ in the global economy.

Furthermore, Moody’s, a ratings agency has predicted the Indian economy to grow at 6-6.3% in the quarter ending in June of 2023.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.