India’s Economy Soars To $3.92 Trillion, Ranks Sixth Globally

New Delhi: The International Monetary Fund (IMF) in its World Economic Outlook for April 2026 noted India's nominal GDP at USD 3.92 trillion for 2025-26, which makes India the sixth-largest economy in the world, Parliament was informed on Tuesday.

"The IMF’s rankings are based on nominal GDP measured at prevailing US Dollar exchange rates. Consequently, the relative ranking of economies can change due to a combination of factors, including economic growth, movements in exchange rates and prices, revisions to national accounts and changes in the size and growth of other major economies," Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.

The government has adopted a broad-based strategy to enhance the growth potential of the Indian economy, he said.

The strategy focuses on enhancing agricultural productivity, promoting manufacturing through initiatives such as the Production-Linked Incentive Schemes and relaxing Quality Control Orders, strengthening MSMEs, expanding world-class infrastructure, improving logistics through PM Gati Shakti and the National Logistics Policy, and fostering innovation, digitalisation and research, he said.

The government is also promoting investment through sustained public capital expenditure, a liberalised FDI policy, an efficient and streamlined tax system through direct tax and GST reforms, and continued improvements in the ease of doing business, he said.

In addition, the minister said the government is strengthening external competitiveness and trade resilience by expanding its network of free trade agreements and comprehensive economic partnership/cooperation agreements while maintaining macroeconomic stability through prudent fiscal management and price stability.

As per data from the National Securities Depository Limited, the gross sales by Foreign Portfolio Investors stood at Rs 29.8 lakh crore during the period from January to August 2026 (up to August 5, 2026), he said.

Replying to another question, Chaudhary said gross non-performing assets (GNPAs) of public sector banks (PSBs) have been declining over the last three financial years and recorded a low of Rs 2,45,634 crore as of March 31, 2026, from a high of Rs 3,39,541 crore as of March 31, 2024.

The GNPA ratio of PSBs has reduced from 3.47 per cent as of March 31, 2024, to 1.93 per cent as of March 31, 2026.

Also, the number of frauds reported over the last three years in PSBs has declined from 54,850 cases in 2023-24 to 5,786 cases in 2025-26, the minister added.

Further, banks initiate appropriate action against borrowers involved in frauds and wilful defaults in accordance with the applicable RBI guidelines and the banks' board-approved policies, he said.

According to the inputs received from public sector banks, during the last three fiscal years, staff accountability has been fixed in 5,147 cases wherein first information report (FIR) has been filed in 9,451 cases against borrowers responsible for frauds.

In reply to another question, Chaudhary said the RBI has informed that the total amount of unclaimed deposits held with DEA Fund as of June 30, 2026, stood at Rs 86,917.08 crore.

The RBI has further informed that it does not maintain information on the total amount lying in inoperative bank accounts, he added.

The central bank has informed that it reimburses the claim amount to the banks from DEA Fund for the amount paid by them to the claimants, he said.

According to the RBI, he said, the total amount of claims reimbursed from DEA Fund to banks till June 30, 2026, is Rs 17,414.68 crore.

(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)