India Rises to 4th Largest Economy, But Challenges Remain for Citizens

• India has become the world's 4th-largest economy with a nominal GDP of $4.18 trillion, surpassing Japan.
• This marks a rapid ascent from 10th in 2014 and 5th in 2022, driven by strong domestic demand and structural reforms like GST and IBC.
• International agencies like IMF and World Bank project continued strong growth for India.
• Despite aggregate growth, India's per capita GDP remains low ($2,694, 122nd globally) due to its vast population and large informal sector.
• Future growth requires deeper structural reforms, job creation for its young population, and converting economic scale into improved living standards.

Why It Matters: India's economic rise is significant, but inclusive growth and improved per capita income are crucial next steps.