In the vast landscape of global economies, India stands out with its meteoric rise and unwavering determination to reach new heights. With its rich cultural heritage and a population of over 1.4 billion people, India has emerged as an economic powerhouse, consistently showcasing its prowess on the global stage. 2023 has proven to be a turning point as India's GDP surges, solidifying its position as a frontrunner in the global economic race.

In this article, we unravel the intricacies of India's GDP growth in 2023. We will delve into the numbers, explore the driving forces behind this remarkable achievement, and gain insights into the implications for India's future.

India’s current GDP (Q2 and FY24)

India’s GDP registered a growth of 7.6 percent in the second quarter of FY24. The new numbers have exceeded the expectations of the RBI, which had earlier in October projected a GDP growth rate of 6.5 percent for Q2 of FY24.

According to government data, India’s GDP growth rate is higher than the major economies such as Russia, the USA, China, and the UK, which have registered a growth of 5.5 percent, 5.2 percent, 4.9 percent, and 0.6 percent, respectively, in the same period.