India’s economy set to grow to ₹346.36 trillion in 2025-26 (FY26). This was slightly higher than the ₹345.47 trillion estimated in the second advance estimate. The revision reinforces the picture of a growing economy, with gross domestic product (GDP) at current prices growing at a compound annual growth rate of 10.8 per cent between FY11 and FY26. Yet strong domestic growth has not translated into high global rankings.

Despite the upward revision, India became the world’s sixth-largest economy in dollar terms in FY26, behind both the UK and Japan. In FY25, India was the fifth largest, ahead of the UK. This is because of the difference between growth in rupee terms and growth measured in dollars. As the rupee has consistently weakened against the dollar over the past decade, the value of India’s economic output when converted into dollars has declined, limiting gains in global rankings.