India is rapidly moving towards becoming the third largest economic superpower

January 20, 2026

Abhishek Vij

The country’s leaders repeatedly reiterate on various platforms that India’s economic growth rate is the fastest in the world. Thanks to the hard work of the country’s private sector, India has already become the fourth largest economic power, and recently, at a ceremony, PM Narendra Modi said that India will soon become the world’s third largest economic power. Nothing can stop its growth momentum. This claim is also based on the fact that along with the rapid growth of the private sector, significant capital formation has also taken place in the public sector over the last two to three years.

In addition, we have also made significant strides in several new economic sectors. Despite US President Trump’s damaging tariff policies, the Reserve Bank estimates that India will be able to maintain a growth rate of 7.4 percent. Prime Minister Modi says that the whirlwind of change unleashed in this country to make India a developed nation is yielding miraculous results. These changes and reforms include not only express reforms but also programs for the next generation. The government’s goal is to use the additional funds from GST for development. In addition, the government has made very significant reforms in the country’s insurance sector. The medical treatment sector has also not lagged behind. The Indian government’s Ayushman Yojana has reached every doorstep in this country with its economic benefits. However, it is a different matter that private sector doctors are not yet fully contributing to making this scheme a success. India’s new generation, as technocrats, has started marching in step with the world.

The Income Tax Act has been amended after six decades. The exemption of income up to Rs. 12 lakh from tax has benefited millions of taxpayers. In addition, changes have also been made to labor laws, which have benefited workers. In this agrarian country, regions like Saurashtra and Kutch are now also making their full contribution to green development. At this time, the only formula for miraculous development being discussed is green development, green mobility, and energy security. A renewable energy park with a capacity of 30 gigawatts is being built in Gujarat. This will be the country’s largest hybrid renewable energy park, five times the size of Paris. In such an environment, how can India’s economy not grow rapidly? Kutch and Jamnagar are becoming centers of green hydrogen energy. The country has made rapid progress towards becoming a digital power. Internet capabilities are poised to leapfrog even beyond 5G.

Investment conferences being held in various states are becoming a strong platform for global growth. It is true that these miraculous figures still do not satisfy the countless poor people of the country. The reason is clear: they continue to be burdened by inflation. Despite offices becoming paperless, files do not move forward without bribes. We claim to have achieved the status of the third largest economic superpower and boast of rapid GDP growth, but due to its unequal distribution, the condition of the poor has not improved. In such a situation, even seeing the country become the third largest economy, the underprivileged cannot rejoice. The fact that a small percentage of people are becoming extremely wealthy while the lives of the poor remain difficult contradicts these claims of development. Therefore, while we welcome the achievements of becoming the third largest economy, these achievements must also reach the underprivileged