Fact Fiscal: 15% of global GDP is contributed by India

Facts are a powerful language with a fascinating echo. this fact echos for India apprising of the huge impact India has in the global GDP. Thanks to the expert to bring attention towards this pride of India.

Indian contribution is high and laudable, says IMF chief economist. The current Indian contribution to global GDP touches around 15 per cent mark. Gita Gopinath, the first IMF Deputy Managing Director says so in an exclusive interview.

This is not it. Another fascinating fact has been revealed by the expert. India is going to become the third-largest economy soon. And for this Indians do not have to wait so long. Based on current projections, this might take place by the year 2027-28, says Gita Gopinath.

What she said then was a matter of pride. India is an “engine of global growth, says Gopinath without mincing words. ”Still, a lot more work has to be done,” she added.

“Now for many more years India needs to maintain a high growth momentum but this might happen in just the next four or five years”, saying so Gopinath emphasizes upon structural reforms calling it the requirement.

”In per capita terms for a large country like India, this still is going to be a small number even if India is the third largest economy. This is why India needs to keep making efforts on that front which will help the growth momentum go much more,” says the economist.