India’s GDP Doubles to $4.3 Trillion in a Decade, Surging 105%

India's Gross Domestic Product (GDP) has attained the unique milestone of $4.3 trillion, doubling over a period of a decade. Having risen by 105%, it has now outpaced global trends in economic development and has taken its place among the fastest-growing major economies in the world.

A decade of unprecedented growth

For the last ten years, India's economy has witnessed unprecedented growth owing to several structural reforms, advances in technology, and an emerging digital economy. It is projected that India's GDP, which was around $2.1 trillion in 2014, would more than double to $4.3 trillion by 2024.

The factors for the expansion over this short time include:

1. Economic Reform: GST, demonetization, and the campaign to make India into a manufacturing giant created conditions for increased investment both domestic and foreign. 
2. The Digital Revolution: The sudden rise of UPI, fintech, and digital infrastructure coyly stimulated economic inclusion. 
3. Manufacturing & Exports - the making of India into a global production hub has fortified the country for its global stance on manufacturing. 
4. Startup & Tech Boom - Startups, unicorns, and IT services empowered economic development. 
5. Increased FDI in sectors such as Infrastructure, Retail and Energy. 

Above Global Growth

India's GDP has grown by 105% in the last decade; in contrast, global GDP has barely gone up. Thus, it made India the fifth-largest economy after surpassing the UK and will further dethrone Germany and Japan in due course.

Future Outlook: On Track for $5 Trillion & More

India is now an arm's length away from the ambitious target of achieving a GDP of 5 trillion dollars. Analysts see infrastructural development, AI-led automation, and green energy initiatives as some of the future growth drivers.