The report “India Rising: A Decade of Economic Transformation and Global Ambition 2025” presents a comprehensive overview of India’s rapid economic evolution from 2015 to 2025.
Key Highlights
1. Economic Growth:
- India’s GDP grew from $2.1 trillion in 2015 to $4.9 trillion in 2025, making it the 4th-largest global economy, overtaking the UK, France, and Japan.
- Average annual GDP growth stood at 6.7%, driven by policy reforms, demographic advantages, and digital infrastructure.
2. Major Reforms & Innovations:
- GST implementation, Insolvency and Bankruptcy Code, and labor reforms enhanced economic efficiency.
- Digital India and UPI revolutionized financial inclusion, with over $4.5 trillion in digital payments in 2024 alone.
3. Poverty Reduction:
- Extreme poverty dropped from 27.1% (2011) to 5.3% (2023), lifting over 415 million people out of poverty.
- Multidimensional poverty fell dramatically, supported by large-scale welfare programs like Jan Dhan Yojana, Ayushman Bharat, and Direct Benefit Transfers.
4. Sectoral Growth Engines:
- IT services, renewable energy, e-commerce, and pharmaceuticals were key drivers.
- 450 GW renewable capacity, a booming e-commerce sector ($325B), and 150,000+ startups signaled innovation-led growth.
5. Digital and Inclusive Development:
- Digital economy constituted ~12% of GDP in 2023, expected to hit 20% by 2030.
- Digital platforms transformed agriculture, education, healthcare, and logistics.
6. Future Outlook:
- Projected to become the 3rd-largest economy by 2027, with a $7 trillion GDP by 2030.
- Priorities include AI adoption, green energy investment, labor reforms, and gender equity.
India’s transformation over the decade is presented as a model of inclusive, technology-driven, and sustainable growth, with the potential to become a developed economy by 2047. The report emphasizes the need for continued reform, investment, and innovation to sustain this trajectory.
