Friday, 12 Sep, 2025
By: Yash Gupte
Prime Minister Narendra Modi while addressing the nation from the ramparts of the Red Fort on 15th August 2019 had mentioned about the target of making India a $5 trillion economy by 2025.
Prime Minister Narendra Modi while addressing the nation from the ramparts of the Red Fort on 15th August 2019 had mentioned about the target of making India a $5 trillion economy by 2025. The economic growth of India was on a positive side and many experts had then observed that India could achieve this target by 2025 if it reports a unhindered and escalating economic growth and if it performs satisfactorily in all economic indicators but the soon after a year, the situation and all the economic equations changed as the global supply chains and Indian economy was massively hit by the covid-19 pandemic. All the major economic indicators turned red and the economy had to go through a major slowdown. As an effect, various economists and field experts had said that India may miss the target of becoming a $5 trillion economy by 2025 and it is possible for India to achieve this target not before 2028-29. Even the International Monetary Fund (IMF) had predicted the same.
But these equations seem to change as India has become the world’s fifth largest economy pushing the UK to the sixth spot. This is the second time India has beaten the UK in terms of economy, as it had surpassed UK once in 2019. According to the Bank of England, the UK is currently experiencing the fastest rate of inflation in four decades, and it is also facing the possibility of a recession that might extend until 2024. On the contrary, the Indian economy is expected to rise by more than 7% this year. In terms of economy, India presently lags behind the United States, China, Japan, and Germany. India was ranked 11th among the world's top economies a decade ago.
Taking into consideration India’s quest for becoming a $5 trillion economy, TEAM CVOTER- INDIA TRACKER conducted a nationwide survey in which people from different locations, social backgrounds, ethnicities, voting preferences and age groups were asked, ‘Keeping in view of the present economic situation, do you think India will become a $5 trillion economy by 2024-25? Different responses were recorded from different group of people.
Source: Team Cvoter- India Tracker
Majority (52%) of the respondents are of the opinion that India can become a $5 trillion economy by 2025 while 48% were against the notion and feel that India may not achieve its target of becoming a $5 trillion economy by 2025. Large majority of Christians and NDA voters are in support of the notion as 75% NDA voters and 67% Christians feel that India will achieve the target of becoming a $5 trillion economy by 2025.
Source: Team Cvoter- India Tracker
Out of all the people belonging to different gender, age groups, social backgrounds and ethnicities, locations and voting opinions, the highest majority of the NDA voters responded with a ‘Yes’ as they feel that India can become a $5 trillion economy by 2025 while only half (36%) of the opposition voters are of the same opinion as majority of them feel that India may miss the target of 2025. Around 55% youth support the notion while 48% are against it. Majority of the Christians feel that India can achieve the target while on the other hand only 35% Muslims feel the same. Majority of the Muslims are of the opinion that India may not become a $5 trillion economy by 2025.
