Media in the US: India has maintained its status as the fastest-growing major economy in the world for four consecutive years. In 2025, India's GDP growth reached 7.5%, with strong performance in manufacturing. Despite the weak rupee preventing it from surpassing Japan (Japan's growth was only 1.1%), the International Monetary Fund expects India to overtake Japan in 2026 and become the fourth-largest economy in the world. The growth rates of the United States, China, and Germany last year were all lower than India's.
India's economic rise is quite unique—it has broken away from the traditional industrialization path. The share of manufacturing in GDP fell from 16% in 2015 to 13%, comparable to the "post-industrial" United States. Economic growth mainly relies on the service sector, including chip design, software engineering, and business outsourcing by multinational corporations.
Families play a significant role in India's economy. Take the Bajaj Group, a century-old family business, as an example. Its financial subsidiary, Bajaj Financial Services, increased its managed assets from 550 million USD in 2007 to 53 billion USD today, with a market value that has grown 377 times. India's digital payment system processes 2 billion transactions per month, driving a large number of people into the formal financial system.
However, India faces severe wealth disparity, with an average annual income of about 2,900 USD, and around 800 million people relying on government-provided free food assistance.
Indian Prime Minister Modi plans to transform India into a fully developed country by 2047, but faster growth is needed to achieve this goal. Although India's economic structure is complex and full of uncertainties, there is still great potential in the next 15 years.
Original: toutiao.com/article/1858296890673159/
Statement: This article represents the personal views of the author.