Has India reached the historic milestone by surpassing the $4-trillion mark? Get a detailed insight into the viral IMF data regarding India’s GDP that has gained tremendous attention lately.
Share with social media
GDP stands for Gross Domestic Product, which is the monetary value of all goods and services of a country in every financial year. Higher is the GDP, financially stronger is the country, indicating that it is growing at a stable rate.
%20-%20Copy.jpg "India's GDP 2023")
The recent news of India's GDP 2023 of $4 trillion has turned heads and amused people on different levels. According to a screengrab from the live tracking GDP feed, India has created history by reaching a $ 4 trillion mark on 19th November, Sunday.
Even though it's big news for the Indian economy, the center or the finance ministry has not given any authentication of the viral feed, leaving people baffled. If the news is true, India has definitely created a historic milestone by reaching this place for the first time.
However, since the screengrab is unverified, it would take some time to come to a conclusion. According to reports, this remarkable milestone was shared on social media posts by many businessmen and political leaders congratulating the country.
The business tycoon Adani shared a post on his social media platform X, stating, 'Congratulations, India. Another two years to go before India becomes the 3rd largest nation in terms of Global GDP by overtaking Japan at $4.4 trillion and Germany at $4.3 trillion. The Tricolour surge continues! Jai Hind'.
Jal Shakti Minister Gajendra Singh Shekhawat has also posted on his social media X, saying, 'India's moment of global glory as our GDP crosses $4 Trillion. The rise of #NewIndia under PM @narendramodi ji's leadership is truly unparalleled.
Likewise, D Purandeswari, BJP's Andhra Pradesh president, said, "Congratulations BHARAT on becoming a 4 Trillion Dollar Economy! This phenomenal achievement has been made possible by the path-breaking reforms introduced and implemented by Prime Minister Shri @narendramodi Ji Government in the last 9.5 years."
Besides, political leaders like Maharashtra Deputy CM Devendra Fadnavis have also congratulated the country for this big achievement. However, there are still no official words on it from the finance ministry, and it has perplexed the Indian citizens to think if the viral news is really true or not.
India's GDP isn't yet $4 trillion, unfortunately. We are about $3.38 trillion as of June, and possibly $3.45 trillion now, at best. pic.twitter.com/Eh8zwwUECq
— Deepak Shenoy (@deepakshenoy) November 19, 2023
India’s moment of global glory as our GDP crosses $4 Trillion.
— Gajendra Singh Shekhawat (@gssjodhpur) November 19, 2023
The rise of #NewIndia under PM @narendramodi ji’s leadership is truly unparalleled.#GDP pic.twitter.com/NIV89GLNaj
As per the World GDP Ranking list of 2023, India is the fifth largest economy in the world, preceded by the USA, China, Japan, and Germany.
In the April-June period of 2023-24, India's GDP witnessed a growth of 7.8 percent. It was the highest in the previous quarters, sustaining its position as one of the fastest-growing economies in the world.
During the same period, China recorded 6.3 percent growth, giving hope for India’s economic evolvement. Seeing the growth trend of the past four quarters, it was speculated through an analysis that India will surpass the $ 4 trillion mark.
Talking in currency, India's GDP for the fiscal year 2022-23 was expected to be approximately ₹272.41 lakh crore, showcasing a significant growth rate compared to the previous fiscal year when the GDP was ₹234.71 lakh crore. Thus, India's GDP 2023 in percentage has shown a growth rate of 16.1%.
In the first quarter of the present fiscal year, the country recorded ₹70.67 lakh crore GDP, showcasing an 8% growth rate. Different research and analysis have speculated that India will record growth at 6.5% for the financial years 2024 and 2025.
However, the recent viral screengrab of India's GDP 2023 November hitting the historic $4-trillion mark has shown India's economic growth on a higher level.
India, being the fifth largest economy in the world, has not left any stone unturned so far to create this historical milestone. There are various driving forces behind this jump, among which the strategic policies of the government and the consistent efforts across various sectors are worth to mention. It is one of the renowned marks for India's economy, making it one of the fastest-growing in the globe.
Besides, the young workforce, growing population, technological advancements, and economic reforms are the other contributors.
With persistent growth and diversity, India is ranked 5th in the world's GDP ranking. This growth is contributed by different sectors like agriculture, information technology, manufacturing, and other services.
As per the screengrab, India reached the $ 4 trillion mark on 19th November; however, it is still unverified, and no official statement has been released by the government yet.
GDP is calculated by the National Statistical Agency, which provides the information after the collection of information from different sources. International norms are followed by every country while calculating their GDP.
Conclusion
As the news of India GDP 2023 reaching $4 trillion in Nov 2023 goes viral, speculation about it being true has increased. Since many politicians and businessmen have already posted the feed on their social media, congratulating India, it would be interesting to know if the viral news is actually true. If yes, then it is one of the biggest news for the Indian economy and one of the greatest milestones ever achieved by the country.
From today, investors will be able to bet on the Indegene IPO. Investors will have the opportunity to bet on this IPO until May 8. The Rs 1, 841.76 crore IPO comprises fresh issuance of shares worth up to Rs 750 crore,
Bharti Hexacom IPO: The total size of Bharti Hexacom IPO is Rs 4,275 crore. Through this IPO, the company will sell 7.5 crore shares. You can invest in this IPO from 3 to 5 April.
Explore the SRM Contractors IPO GMP, Lot Size, Price, and Date at PrimeNewsly. There is good news for investors looking at GMP. The SRM Construction IPO will open next week. The company has raised Rs 39 crore from anchor investors.
Gopal Snacks IPO GMP: The IPO of Gopal Snacks has opened for subscription from today. It will remain open till March 11. The company has fixed the price band of the IPO at Rs 381-401 per equity share.
