India’s GDP grew by 4.1 percent in the first three months of 2022, slightly truncating annual growth in 2021-22 to 8.7 percent due to Omicron restrictions putting a damper on economic activity in this last quarter of the Indian fiscal year.
However, looking at the big picture, Indian GDP growth is still doing quite well on a global scale and the country is expected to surpass Japan as Asia’s second-largest economy by 2030.
The IMF has forecast a GDP growth of 8.2 percent for India in 2022, which would put the country in the top 4 spot of the fastest growing economies in the world (out of those with a 2021 GDP of $10 billion or above). Counting all countries, even small island nations, India still comes seventh.
This chart shows the countries with the highest projected GDP growth in 2022 (as of April 2022).
