New Delhi is buzzing with optimism as Chief Economic Adviser V. Anant Nageswaran confidently declared that India is on a fast track to becoming the world’s third-largest economy. Speaking at a press conference on Friday, Nageswaran highlighted robust growth projections, underscoring the nation’s economic resilience post-coronavirus pandemic.
With the new GDP series taking 2022-23 as the base year, India’s real GDP growth for the third quarter of FY 2026 is estimated at an impressive 7.8 percent. For the entire financial year, the growth rate is projected to hover around 7.6 percent. ‘There is no doubt that India will become the third largest economy in the next few years,’ Nageswaran asserted, responding to queries from reporters.
India’s growth trajectory remains the fastest among G20 nations, even after the pandemic’s disruptions. Nageswaran pointed out that exchange rates and other external factors, which were unfavorable in 2025, play a crucial role in achieving specific milestones. ‘We must focus on what is within our control,’ he emphasized.
Policy measures and reforms are paving the way for sustained non-inflationary growth of at least 7 percent in real terms and 10-11 percent nominally. Nageswaran highlighted the potential of trade agreements and India’s burgeoning AI ecosystem, which could transform from a perceived weakness into a major strength.
These initiatives are expected to boost capital inflows, stabilize the exchange rate, and ensure that the dollar value of Indian GDP better reflects the rupee-denominated economy’s real performance. Dr. Saurabh Garg, Secretary of the Ministry of Statistics and Programme Implementation, echoed this sentiment, noting that the revised GDP series paints a stronger and more accurate picture of India’s economy.
As India navigates global uncertainties, these projections signal a bright future, with structural reforms and technological advancements driving long-term prosperity.