India’s economic slowdown

Prime Minister Narendra Modi’s pledge to turn India into a $5 trillion economy by 2024 – eclipsing the UK and Germany – needs GDP to expand at more than 11 percent for the next four years


GDP growth (% compared to previous year) 

2008: Global financial crisis. GDP stands at $1.3 trillion

May 2014: Narendra Modi assumes office. GDP stands at $2.0 trillion

May 2019: Modi sets $5 trillion economic target
   

United States GDP (World Bank, 2019) $21.51 trillion

China $14.24 trillion

Japan 5.23

Germany 4.21

UK 2.98

India 2.70


8			8.5 						8.0	8.2
		7.9					7.4	7.9			7.2	
6						6.4						6.8
				5.2	5.5								5.0*
4
	3.1
2

0
	2008 	09 	10 	11 	12 	13 	14 	15 	16 	17 	18 	19 	20

Financial year to March 31 


*Central Statistics Office prediction

 
Sources: Bloomberg, CNBC, World Bank 
Picture: Getty Images 
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