India To Remain Fastest-Growing Economy Among G7 Nations

India’s economy is growing fast and will continue to do so, even faster than the big developed countries like the US, UK, Japan, and others in the G7 group, according to a report by the PHD Chamber of Commerce and Industry (PHDCCI).

Key Highlights:

India’s economy has grown by more than 8% per year from 2021 to 2024, which is higher than any of the G7 countries (Canada, France, Germany, Italy, Japan, UK, and the US).
According to the IMF, India is expected to keep growing at over 6% annually till 2029.
India’s strong growth is powered by:
- High domestic demand (more people buying and consuming).
- Good economic policies and strong reforms.
- A young population – over 68% of Indians are between 15 and 64 years old.
- Big improvements in digital infrastructure like UPI, Aadhaar, and government policies like GST and PLI schemes.

Rising Trade and Global Role:

India’s trade with G7 countries increased by 61%, from $154 billion in 2021 to $248 billion in 2025.
India is now exporting more and maintaining a trade surplus with G7 countries, meaning it sells more than it buys.
In purchasing power parity (PPP) terms, India’s share in the global economy rose from 7% in 2020 to 8.3% in 2024, and could cross 9% by 2029.

Future Opportunities:

India’s leadership in solar energy, biofuels, and climate-friendly missions is being recognised globally.
India is also leading in technology and AI, promoting human-focused and ethical digital systems like BHASHINI and Digital Public Infrastructure (DPI).
PHDCCI believes that strong partnerships with G7 countries in clean energy, healthcare, supply chains, and climate finance will help all countries grow together.

Conclusion:

India’s young population, strong policies, and tech leadership are helping it grow faster than major economies. As a result, India is becoming a key driver of global economic growth.

Also See: Donald Trump’s Trade Policies Hurt US Economy: Shrinks by 0.5% in Early 2025

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