India GDP to cross USD 5 trillion by FY29
Analysis based on 11 articles · First reported Aug 04, 2026 · Last updated Aug 04, 2026
The projection of India's GDP crossing USD 5 trillion by FY29, backed by a comprehensive growth strategy, is likely to boost investor confidence and support positive sentiment in Indian financial markets. The emphasis on manufacturing, infrastructure, and strategic sectors may attract foreign investment and benefit related industries.
Finance Minister Nirmala Sitharaman told the India — Rajya Sabha on August 4, 2026, that India's GDP is projected to cross the USD 5-trillion mark in FY29, citing the IMF's World Economic Outlook database (April 2026), which estimates India's GDP at current prices at around USD 5.1 trillion by 2028-29. She outlined a broad-based growth strategy covering agriculture, manufacturing, MSMEs, infrastructure, logistics, tax reforms, innovation, digitalisation, human capital, and energy security. The strategy includes public capital expenditure, FDI liberalisation, export promotion, and expansion of free trade agreements. Specific initiatives mentioned include the Production Linked Incentive scheme, Make in India, National Logistics Policy, PM GatiShakti, MSME support measures, Digital Public Infrastructure, and the PM-SETU skilling scheme. The Union Budget 2026-27 announced measures for the services sector, and strategic sectors such as semiconductors, electronics, biopharmaceuticals, rare earths, chemicals, capital goods, clean energy, and advanced manufacturing have been prioritised. Sitharaman also reported that banks registered 215,709 SARFAESI cases in FY25 involving Rs 1,03,180 crore, with recoveries of Rs 32,466 crore.
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