India is on track to become a $5 trillion economy by FY29, according to the International Monetary Fund’s latest projections, Finance Minister Nirmala Sitharaman informed Parliament. Citing the IMF’s April 2026 World Economic Outlook, she said India’s GDP at current prices is expected to reach around $5.1 trillion by 2028–29.
The Finance Minister said the government is pursuing a broad-based growth strategy focused on boosting agricultural productivity, strengthening manufacturing, supporting MSMEs, expanding infrastructure, improving logistics, simplifying the tax system and accelerating digitalisation. The strategy also includes enhancing energy security and expanding India’s network of free trade agreements.
The projected milestone reflects India’s continued economic momentum and reinforces its ambition to emerge as one of the world’s leading economies. The government’s reform agenda aims to attract investment, create jobs and sustain long-term growth while improving India’s global competitiveness.
