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The April 2026 World Economic Outlook by the International Monetary Fund (IMF) has seen India fall to the sixth-biggest economy in the world in nominal GDP terms. Its economy will be estimated at an amount of 4.15 trillion in 2026, ranking just after the United States, China, Germany, Japan, and the United Kingdom.

This position was fifth (and at one point, fourth) because of the decline in the value of the Indian rupee against the US dollar, as well as the recent changes in the GDP base year to 2022-23 (instead of the former 2011-12). The economy is steadily growing in terms of rupees, but the dollar-denominated figure is downplayed as a result of currency changes.

With a predicted 6.5% growth of real GDP, India is the fastest-growing major economy even after the nominal slip. The IMF forecasts India will regain the fourth spot by 2027 and is on track to become the third-largest economy by 2031. Economists point out that such changes in rankings are normal and do not indicate how strong such domestic growth is.