India Set to Become USD 5-Trillion Economy in FY29, says Sitharaman

Indian economy is set to cross USD 5-trillion mark in FY29 as per the International Monetary Fund (IMF) and the government has adopted a broad-based growth strategy to achieve the milestone, Finance Minister Nirmala Sitharaman said in the Rajya Sabha on Tuesday.

As per the World Economic Outlook database (April 2026) published by the IMF, India's GDP at current prices is projected to be around USD 5.1 trillion by 2028-29, she said in a



written reply.

"The government has adopted a broad-based growth strategy focusing on enhancing agricultural productivity, promoting manufacturing, supporting MSMEs, expanding infrastructure, improving logistics and ease of doing business, creating an efficient and streamlined tax system through income tax and GST reforms, fostering innovation and digitalisation, strengthening human capital, and ensuring energy security," she said.