India will be world’s 3rd largest economy irrespective of who’s PM: Chidambaram

Terming Prime Minister Narendra Modi a “master of exaggeration” for “turning an arithmetic inevitability into a guarantee”, senior Congress leader P Chidambaram said that India will become the third largest economy in the world no matter who becomes the PM. The former Union finance minister said India would achieve the feat given the size of its population, and there was “no magic” involved in it, but refrained from allotting a time frame within which the nation would progress to the coveted third place in the global ranking.

According to the World Economy Rankings 2024, India, with a GDP of USD 4.8 trillion, is preceded by the United States, China and Japan while currently standing neck and neck with Germany.

Countries like France, Italy, Brazil, Canada and the UK, which also feature in the list of the world’s top 10 economies, are below India in their respective ranks.

“Narendra Modi is a master of exaggeration. He is turning an arithmetical inevitability into a guarantee. It is inevitable that India will become the third largest economy in the world (in terms of GDP),” Chidambaram told in an interview.