CAN INDIA BECOME A $5 TRILLION ECONOMY BY 2027?

To reach this goal, the economy will need an acceleration in economic growth momentum beyond baseline expectations. It will need to grow faster than it has during the past decade

- Vishrut Rana

IN 2025, ECONOMIES with an output of at least $5 trillion would likely include the U.S., China, Japan, and Germany as members. India is now looking to join this exclusive club albeit a couple of years later. This is a laudable goal. Economic growth is important for creating opportunities for people to improve their life outcomes. A recent NITI Aayog study has estimated that about 25 per cent of India’s population faces some multi-dimensional poverty with an average of 50 per cent deprivation in aspects of health, education, and necessities. Brisk economic growth will mean that the economy can afford to lift more and more people out of poverty. India’s target to have a $5 trillion economy by 2027 is ambitious. It is a challenging task but achievable. To reach this goal, the economy will need an acceleration in economic growth momentum beyond baseline expectations.

Ambitious but Achievable