Business
India Set To Make History: Country’s Economy Nears $4 Trillion Milestone, Even Trump’s Tariff Failed To Stop It
New Delhi: India’s economy stands at the threshold of history, poised to surpass the $4 trillion mark this fiscal year, according to Chief Economic Advisor (CEA) V. Anantha Nageshwaran. He emphasised that India, which is presently the world’s fifth-largest economy with a GDP of $3.9 trillion, is on track to achieve unprecedented growth despite a turbulent global landscape.
He pointed out that geopolitical changes are occurring at a rapid pace and stressed that sustained economic expansion is critical to maintain India’s influence and standing on the global stage.
Overcoming Global Hurdles
This achievement comes even as India navigated international challenges, including tariffs imposed by the United States under President Donald Trump. Indian goods faced tariffs as high as 50%, including 25% on certain imports, because of importing sanctioned Russian oil.
India’s strategic policies and trade maneuvering have largely neutralised the impact of these tariffs, opening new markets and opportunities in the process.
Nageshwaran highlighted that these measures surprised even Washington, which now recognises that its calculations regarding New Delhi had been underestimated.
Good News For The Current Fiscal Year
Speaking at the IVCA Green Returns Summit 2025, Nageshwaran said, “During this fiscal year, India will grow from a $3.9 trillion to a $4 trillion economy.”
“To make the economy robust, address energy transitions, environmental challenges, climate change and climate instability, we must align every effort with our short- and medium-term priorities,” he said.
The CEA also highlighted India’s commitment to combating climate change. “We are fully aware of the potential consequences of global warming and climate change. That is why, as a nation, we are committed to achieving net-zero emissions by 2070,” he said.
He explained that net-zero means balancing greenhouse gas emissions with measures to remove an equivalent amount from the atmosphere.
A Vision For The Next Decade And Beyond
Earlier this year, Arvind Panagariya, chair of the 16th Finance Commission, projected that India could achieve developed nation status by 2047, based on decades of stable economic performance.
He stated that if present growth trends continue, the country could become a $10 trillion economy within the next decade.
Central to this vision is the ‘Developed India’ outlook, which aims for a substantial increase in per capita income.
Currently around $2,570, he estimates that per capita income could rise to $14,000 by 2047, representing an annual growth rate of approximately 7.3%.
This figure reflects the income that the average citizen would receive, highlighting the broader impact of economic growth on the population.
India’s economic journey, according to experts, is not only about numbers, it is about building global credibility, creating resilience against international pressures and securing a prosperous future for its citizens.
Despite external hurdles and geopolitical uncertainties, the country’s path toward historical milestones remains steadfast.
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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