Celebrate the 4th rank — BUT growth should uplift everyone, not just the GDP
From Golden Bird to Global Giant: India’s Journey to Becoming the 4th Largest Economy
By Coach Amit Premit | Premit Brothers
Introduction: The Rise No One Can Ignore
India’s recent leap to becoming the 4th largest economy in the world is not just a numeric milestone — it’s a historical correction. A journey of centuries — from being called the “Sone Ki Chidiya” to a colonized and looted nation, to now emerging as a global economic powerhouse.
But this success didn’t come overnight. It’s the result of vision, policy reforms, resilience, and relentless effort by a billion-plus people. Let’s trace India’s journey in phases — with facts, visuals, and analysis.
Pre-Colonial Glory: The Golden Bird
Before colonial rule, India accounted for nearly 25% of global GDP. We were known for:
- Flourishing trade with Middle East, Europe, and China
- World-class craftsmanship in textiles, metalwork, and spices
- Advanced agriculture, irrigation, and urban planning
India was the economic heart of the world, as per British economist Angus Maddison.
Colonial Collapse: From Wealth to Wounds
British colonization drained India’s wealth via exploitative trade, high taxation, and destruction of local industries.
- Textile hubs like Dhaka and Murshidabad were decimated
- Famine, poverty, and illiteracy rose alarmingly
- India’s share in world GDP fell to ~3% by 1947
It wasn’t just colonization — it was economic throttling.
️ Post-Independence to Pre-Liberalization (1947–1991): The License Raj Era
Independent India adopted a socialist mixed economy, aiming for self-reliance and state-led industrialization. While visionary, this system quickly turned into bureaucratic overreach.
- Growth was limited to ~3%: Dubbed the “Hindu rate of growth”
- The License Raj stifled entrepreneurship and innovation
- Protectionism isolated India from global trade competitiveness
1991 Economic Reforms: The Game-Changer
India faced a balance of payments crisis in 1991. Foreign reserves had dipped to cover just two weeks of imports.
Led by Dr. Manmohan Singh and PM Narasimha Rao, India liberalized:
- Reduced import tariffs
- Dismantled licensing norms
- Encouraged foreign investment
- Privatized PSUs
India’s GDP growth shot up from 3% to 6–8% range in the following decade.
️ 2014 Onwards: Structural Reforms & Digital India
- ✅ Implementation of GST to unify the tax system
- ✅ Insolvency and Bankruptcy Code to resolve bad loans
- ✅ Make in India, Digital India, Startup India launched
- ✅ Infrastructure push: Roads, Railways, Airports, Highways
- ✅ Massive growth in fintech & digital inclusion (UPI revolution)
The foundations were laid for India’s rise to the Top 5 economies.
Where Does India Stand Now (As of May 2025)?
| Rank | Country | Nominal GDP (USD Trillions) |
|---|---|---|
| 1 | United States | $28.78 T |
| 2 | China | $18.53 T |
| 3 | Germany | $4.59 T |
| 4 | India | $4.10 T |
| 5 | Japan | $4.05 T |
Source: IMF World Economic Outlook, April 2025
Growth Drivers Behind India’s Rise
- Demographic Dividend: Young population = productivity boost
- ️ Infrastructure & PLI schemes to boost manufacturing
- Tech-led service economy & global outsourcing
- Inflation control & fiscal discipline
- Increased domestic consumption, even in rural areas
⚠️ Challenges Ahead
- ⚖️ Inequality: Rising urban-rural and rich-poor divide
- Climate & environment: India must lead green innovation
- Skill gap & education: Future workforce must be retooled
India’s Road Ahead
India is projected to overtake Germany and become the 3rd largest economy by 2027–2028. But to do so inclusively:
- Invest in education & skill-building
- Boost innovation & R&D
- Strengthen judicial, land, and labor reforms
Final Thoughts by Coach Amit Premit
India’s economic journey is nothing short of phenomenal. But numbers alone don’t define greatness. A nation must rise with empathy, ethics, and equity.
Let us celebrate the 4th rank — but strive for a nation where growth uplifts everyone, not just the GDP.
And if you want to align your career, business, or mindset to this rising India — we at Premit Brothers are here to help.
➡️ Know your strengths. Build your strategy. Rewire your mindset.
WE DON’T JUST INSPIRE, WE REWIRE
www.premitbrothers.com | coachamit@premitbrothers.com