Nagpur: While Social media in India was abuzz with unconfirmed reports that India’s gross domestic product (GDP) breached the $4 trillion mark in nominal terms, no official version came confirming this news yet!. However, if it is true, then it will make New Delhi the fifth-largest economy globally.
According to social media posts, India has been shown to reach a historic milestone on Sunday, November 19, when its GDP surpassed the $4-trillion mark for the first time. Though there is no official word on this.
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The milestone was hailed by billionaire and Adani Group Chairman Gautam Adani, two union ministers and Maharashtra Deputy Chief Minister Devendra Fadnavis on Sunday.
Criticizing the alleged fake narrative build on social media, Congress leader Jairam Ramesh on Monday posted on X that, “Between 2:45pm and 6:45pm yesterday, when the nation was glued to watching the cricket match, various drumbeaters of the Modi Govt including senior Union ministers from Rajasthan and Telangana, the Deputy CM of Maharashtra, as well as the PM’s most favoured businessman, tweeted that yesterday itself India’s GDP had crossed the $4 trillion mark. This was totally FAKE and BOGUS news meant to generate more euphoria and a pathetic attempt at both sycophancy and headline management.”
It is pertinent to mention that, an unverified screengrab from the live tracking GDP feed for all countries based on International Monetary Fund (IMF) data is being widely shared on social media. Many senior BJP leaders have also shared the post.
Following this many shared congratulatory messages on social media platforms.
“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,” Adani said on social media platform X.
Many political leaders, including Maharashtra Deputy CM Devendra Fadnavis hailed the achievement. Although the finance ministry and the National Statistical Office did not immediately comment on the viral social media post on India’s GDP crossing $4 trillion.
“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,” Jal Shakti Minister Gajendra Singh Shekhawat said in a post on X.
Another Cabinet minister, G Kishan Reddy in a post said, “Congratulations As The GDP Touches $4 Trillion For The First Time and Marches Ahead. On the course towards $5 Trillion Economy – Modi Ki Guarantee,” Reddy is Union Minister for Culture, Tourism and Development of Northeast Region as well as Telangana BJP president.
Fadnavis further said: “This is what dynamic, visionary leadership looks like ! That’s what our #NewIndia progressing beautifully looks like ! Congratulations to my fellow Indians as our Nation crosses the $ 4 trillion GDP milestone! More power to you, more respect to you Hon PM @narendramodi ji!.”
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.”
It is very difficult to have live tracking of GDP numbers of all countries as numbers of various sectors of the economy are available with a lag.
India recorded GDP growth of 7.8 per cent during the April-June period of 2023-24, the highest in the past four quarters, on the back of double-digit expansion in the services sector, retaining its position as the world’s fastest-growing major economy.
The 7.8 per cent GDP growth in the June quarter is higher than the 6.3 per cent recorded by China during the same period.
In July, an analysis by the PHD Chamber of Commerce and Industry predicted that the Indian economy will surpass the $4-trillion mark in the fiscal year 2024-25. It also said the per capita nominal GDP is expected to cross the threshold of $2800.
In August, an S&P Global report said India can become a $6.7 trillion economy by 2031 from $3.4 trillion currently, if the country clocks an average growth of 6.7 per cent for 7 years.
