New Delhi: India’s economy is expanding steadily at an annual growth rate of 6.5 per cent and is well on its way to becoming an $8 trillion economy in the coming years, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said in June. In an interview with IANS, the Minister stated, “India has already progressed from a $2 trillion to a $4 trillion economy, and with the current growth trajectory of 6.5 per cent, we are on course to becoming an $8 trillion economy in the near future.”

He further highlighted that this economic expansion will directly benefit Indian citizens. “As the economy grows, it fuels overall economic activity and raises per capita income. In today’s interconnected global economy, this also results in an increased exchange of goods and services,” Puri told IANS.

He stressed that a robust economy significantly enhances a country’s international reputation and credibility. According to the International Monetary Fund’s (IMF) World Economic Outlook released in April 2025, India’s nominal GDP is projected to reach $4.187 trillion in 2025—slightly surpassing Japan’s expected GDP of $4.186 trillion.

The IMF forecasts that India may overtake Germany to become the world’s third-largest economy in the near future. By 2027, India’s GDP is expected to exceed $5 trillion, reaching $5.069 trillion, and by 2028, it is projected to rise to $5.584 trillion—compared to Germany’s estimated GDP of $5.251 trillion, as per IMF estimates. Meanwhile, Minister Puri also reassured the public about fuel availability amid heightened geopolitical tensions between Israel and Iran.

“I want to make it absolutely clear that there is no shortage of petrol and diesel in the country. People do not need to worry,” he told IANS. He affirmed that India is adequately prepared to manage the situation and ensure seamless fuel supply across the nation.