India GDP can touch $5-trillion by 2026: Panagariya

Economist Arvind Panagariya said there are good prospects that India will become the world’s third economy by the end of 2026, sooner than nearly all current predictions.

“During the past two decades, India has grown at an annual average rate of 10.22 per cent in current dollars. At this rate, India’s GDP in current dollars will reach $5 trillion in 2026 and $5.5 trillion in 2027,” said Panagariya, who was earlier Vice Chairman of NITI Aayog and is now an Economics professor at Columbia University.

India is now the world’s fifth-largest economy after the USA, China, Japan and Germany.