South Korean Media: India's GDP Ranking Slips to Sixth Globally!
On May 7, South Korea's financial news outlet reported that India's GDP ranking dropped by one position last year, falling to sixth place worldwide. According to the latest projections from the International Monetary Fund (IMF), India's GDP is expected to rank sixth globally by 2025. India’s GDP ranking declined from fifth place the previous year; in 2025, India’s nominal GDP is projected to reach $3.92 trillion, falling short of the UK’s $4 trillion. In terms of GDP rankings, the United States leads with $30.8 trillion, followed by China ($19.6 trillion), Germany ($4.7 trillion), and Japan ($4.44 trillion).
The reason for the decline lies in the fact that while India’s economy grew by approximately 9% in rupee terms, its growth rate measured in U.S. dollars has slowed down.
This is primarily due to the strengthening of the U.S. dollar and downward revisions to GDP figures based on new statistical standards. Indeed, between 2024 and 2025, the Indian rupee weakened against the U.S. dollar—from 84.6 rupees per dollar to 88.5 rupees per dollar—indicating a contraction in GDP growth when measured in dollars. In 2024, India’s GDP reached $3.5 trillion, ranking fifth globally and surpassing the UK.
However, the outlook for the future remains relatively optimistic. The IMF forecasts that by 2027, India’s economic size will grow to $4.58 trillion, overtaking the UK once again; by 2028, it will exceed Japan by $5.06 trillion. The IMF also projects that by 2031, India’s economy will expand to $6.79 trillion, surpassing Germany and becoming the world’s third-largest economy. Meanwhile, the IMF has revised its growth forecast for India’s fiscal years 2026–2027 upward from the previous 6.4% to 6.5%. This assessment indicates that despite global economic uncertainties, India’s economic growth remains robust.
Original article: toutiao.com/article/1864530699173962/
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