Global Economic Rankings by GDP in 2025

The 2025 global GDP rankings highlight the world's largest economies based on nominal Gross Domestic Product in U.S. dollars, as reported by the IMF’s World Economic Outlook. The United States, China, Germany, India, and Japan continue to be the dominant economic forces worldwide.

• The United States leads the global GDP ranking with a projected GDP of $30.50 trillion.
• India currently stands as the 4th largest economy in the world GDP ranking for 2025.
• The IMF predicts that India will surpass Germany by 2028, securing its position as the world's 3rd largest economy.

Top 10 GDP Countries in 2025

The United States of America maintains its position as the world's largest economy, boasting a GDP exceeding $30 trillion. China, through significant investments in economic expansion, is rapidly approaching the top spot. Other prominent nations, including Germany, India, and Japan, follow closely.

The following table presents the latest world GDP ranking for 2025:

*This list is updated according to the IMF World Economic Outlook data released in April 2025.

Understanding Nominal GDP Ranking

Nominal GDP ranking arranges economies based on their total gross domestic product, expressed in current U.S. dollar values, without adjustments for purchasing power parity (PPP) or inflation. This measure reflects the total value of goods and services produced within an economy, converted using prevailing market exchange rates.

It is important to note that this ranking can be influenced by fluctuations in exchange rates, inflation, and the relative strength of national currencies, necessitating careful interpretation of comparisons over time.

India's GDP Ranking in 2025

Gross Domestic Product (GDP) represents the monetary value of all goods and services produced within a country over a specific year. A higher GDP signifies a nation's financial strength and consistent growth.

• In 2025, India has achieved a $4 trillion economy. According to IMF data, India is the world's 4th largest economy in 2025, on par with Japan. Key economic drivers in India today include traditional and modern agriculture, technology services, the handicraft sector, and business process outsourcing.
• India's GDP grew at 6.5% in 2024-25. With an estimated real GDP of ₹187.95 lakh crore for 2024-25, compared to ₹176.51 lakh crore in 2023-24, India, with a population exceeding 1 billion, is among the world's highest population-based economies.
• India’s nominal GDP has experienced substantial growth, more than doubling by 105% in just one decade, from 2014 to 2025.
• Despite ongoing geopolitical conflicts, India is projected to remain the fastest-growing major world economy, with a GDP growth rate of 6.2% for 2025.

India's economic expansion in the upcoming fiscal year is expected to be the quickest among major economies. Future growth will be fueled by increasing consumption and both domestic and foreign investments, potentially elevating India's position in global GDP rankings.

India's GDP Per Capita in 2025

Although India holds the fourth position in the 2025 World GDP Ranking, its per capita income remains considerably low. In 2025, India's per capita income is estimated at $2,934 (approximately ₹2.5 lakh), significantly lower than Japan's $33,955. Several factors contribute to India's lower per capita income compared to top GDP countries.

Nevertheless, per capita income has shown an increase over recent years:

• In the financial year 2024, India's per capita income was $2,500 (nearly ₹1.8 lakh), and approximately ₹1.6 lakh in 2023.
• In contrast, India's per capita income was ₹86,647 in the financial year 2015.
• Over the last decade, it has risen by almost 188%. The significant increase in population and demand for employment have notably contributed to the nation's GDP per capita.

India's GDP Growth Rate Over the Last Decade

GDP calculation involves assessing the value of goods and services produced for market sale and non-market production, such as government-provided education or defense services. GDP is crucial as it measures the overall size and health of an economy through its total production.

India's economy is anticipated to grow further in the coming years. With an 8.2% growth in FY22, India is set to be one of the fastest-growing trillion-dollar economies globally in 2025. Here is a comprehensive overview of India's GDP growth rate over the past 10 years:

India's GDP growth in 2024 has moderated compared to 2023 due to reduced global demand impacting exports, tighter financial conditions, and agricultural challenges from monsoons. However, the economy continues to expand at a 6.5% rate, supported by an increase in private consumption, investment, and a robust agricultural sector.

With ongoing reforms in compliance, industry, business, labor, and employability, India has the potential to become a $5 trillion economy by 2027 and surpass Germany to become the third-largest economy by 2028.

How GDP is Calculated

GDP is determined using the following formula:

Y = C + I + G + (X − M)

• C represents consumption, encompassing expenditures on services, non-durable goods, and durable goods.
• I denotes investment, which includes spending on housing and equipment.
• G signifies government expenditure, covering employee salaries, infrastructure development (roads, railways, airports, schools), and military costs.
• (X - M) refers to net exports, calculated as the difference between total exports (X) and total imports (M).
• In this formula, Y stands for Gross Domestic Product.

While the United States remains the top economy, India has firmly established its presence among the world's major economies, now ranking 4th with a GDP of $4.19 trillion, having surpassed Japan. With consistent growth, strategic policy reforms, and escalating domestic demand, India is projected to become the third-largest economy by 2028, thereby influencing the global economic landscape and enhancing its standing in future GDP rankings.