India to become upper-middle-income nation by 2031
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India's economy is on track to grow by 6.8% in FY25 and achieve upper-middle-income status by 2031, as per rating agency CRISIL. The World Bank defines lower-middle-income countries as those with per-capita income of $1,000-$4,000 and upper-middle-income with per capital income between $4,000-$12,000. The study also forecasts that India's GDP will double to $7 trillion by 2031. That means India will become the world's third-largest economy by 2031, surpassing Japan and Germany.