Six largest economies in the worldIndia can jump to the 4th largest economy in the world in this Narendra Modi regime. It will take only five years to be the 4th largest economy beating the UK and Germany. At present, the US tops the list with a nominal GDP (2019 prediction) of $21,5 Trillion followed by China with a GDP $14.25 T. Japan is third in the list which has a GDP of $5.23 T followed by Germany, the fourth largest economy. Germany has a GDP of US $ 4.2 T. Surely, India will jump from its sixth rank to the fifth surpassing the UK that has a GDP of $ 2.98 Trillion. India's GDP is calculated at $2.93 T (2019) when Narendra Modi is voted to be the Prime Minister of India for the second term.
|The statue of liberty, the US|
What it takes to the 4th largest economyIndia can be the 4th largest economy in the world in nominal GDP in this Modi regime. Gone are the days when we were talking of the sixth or fifth largest economies. To reach to the present GDP of Germany, India needs to add $1.27 T (Germany 4.20-2.93 India) to its GDP. Presently, the growth rate in Germany is about 1.8 percent. In 2024, German GDP will be about $4.58 T, calculating with the present growth rate. Hence, India has to add $1.65 T in its GDP to reach that of Germany. Indian people have elected Narendra Modi for a term of five years, i.e. up to 2024.
Roughly, India needs to grow by 55% in the Narendra Modi regime to reach the GDP of Germany, the fourth largest economy in the world. If India grows by 9.1%, with a cumulative effect, it will reach the target by 2024. India's growth history is estimated between 7 to 7.5 percent. So, we have to accelerate our growth rate by about 2 percent to beat Germany in nominal GDP.
|GDP, the US vs China, Source Statistics Times|
How to achieve GDP growth of more than 9%
|Narendra Modi, Prime Minister, India|
How can it be done in this Modi regime?
Read also: Driving India to a $5 Trillion and $10 Trillion Economy: Modernization and Digitization
GDP growth in the agriculture sector (Primary)
Accelerating growth in the manufacturing sector (Secondary)
Accelerating growth in the service sector (Tertiary)
Video: Narendra Modi Victory speech
Muslim Workforce contribution in GDP
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