India has made tremendous accomplishments in 2024, from technical advancements and economic prosperity to diplomatic achievements and social welfare reforms. As the year comes to an end, let’s take a look back at the nation’s path, which has been nothing short of revolutionary, with accomplishments that have cemented its position as a major world force.
India’s economy maintained its strong recovery in 2024, rising by 7% in GDP, making it the largest economy with the fastest rate of growth in the globe. The nation’s economy remains the fifth largest in the world, rapidly overtaking Germany, which holds the fourth spot.
The growth in foreign direct investment (FDI), which reached a record $1 trillion between April 2000 and September 2024, was the main driver of India’s impressive success. Record exports of $778 billion further bolstered this boom and strengthened India’s place in the world economy. The last ten years (April 2014–September 2024) saw more than 69% of these inflows.
India was able to settle a number of regional disputes, most notably with the Maldives, where tensions have been reduced through diplomatic efforts. However, disagreements over Sikh diaspora-related problems and more general geopolitical concerns continue to affect its ties with Canada.
India significantly increased connectivity both inside and between regions by building an average of 27 km of new highways every day. According to NewsX’s Bharat Progress Report 2024, 79% of Indian households had access to tap water. Over the previous five years, access to clean water has increased fivefold as a result of this growth. The highest budget ever allotted to the Ministry of Defence, Rs 6.22 trillion, up by 4.79 percent from the previous fiscal year. Local manufacturing and equipment modernization were the goals.
India’s defense readiness was greatly enhanced in 2024 when the first long-range hypersonic ballistic missile was successfully tested. Furthermore, India strengthened bilateral defense ties with the United States by securing a $3.5 billion drone purchase. India significantly increased connectivity both inside and between regions by building an average of 27 km of new highways every day.
After four years of tension, Indian and Chinese military withdrew from Ladakh, indicating a possible de-escalation and improving India’s security situation. With profits growth predicted to increase by 18% to 20% yearly through 2030, India is predicted to rank among the top-performing emerging economies in 2025.
In December, the RBI made the decision to maintain the benchmark interest rate at its current level, notwithstanding the difficulties caused by inflation. But it also took a big step by lowering banks’ cash reserve ratios for the first time in more than four years, which essentially eased monetary conditions in reaction to the slowing development of the economy.