India is on track to become a $5.1 trillion economy by FY29, Finance Minister Nirmala Sitharaman has said. The projection underlines the government’s growth ambitions.

The finance minister pointed to strong domestic demand and continued reforms as drivers of growth. India remains among the world’s fastest-growing major economies.

The $5.1 trillion target would mark a major milestone for the country. It comes as India deepens trade ties and pushes its manufacturing sector.

Sitharaman made the remarks while discussing India’s economic outlook. She expressed confidence in the growth path despite global uncertainties.

Economists will watch whether global headwinds affect the trajectory. The government has said it is committed to the reforms needed to meet the goal.

India’s growth has outpaced most major economies in recent years. Strong services exports and a young workforce support the outlook. If the target is met, India would cement its place among the world’s largest economies.