India overtakes US as top global growth driver? Data shared by Elon Musk shows Asia reshaping world economic power. Photo: X.
Elon Musk has shared data showing India emerging as the world’s largest contributor to global economic growth, overtaking the United States. The developments were highlighted by Tesla CEO Elon Musk, who shared IMF figures and noted, “the balance of power is changing,” capturing what economists describe as a structural realignment away from traditional Western growth engines.
According to reports, IMF projections show that India will account for 17% of global real GDP growth in 2026, surpassing the United States, which is expected to contribute 9.9%. China remains the single largest contributor, with a projected 26.6% share of global growth.
Together, India and China are expected to generate 43.6% of worldwide economic expansion, making the two Asian economies the dominant drivers of global growth.
Global GDP growth is projected at 3.3% in 2026, followed by 3.2% in 2027, according to IMF estimates.
Musk’s comment came alongside a chart based on the IMF’s January 2026 projections, which outlined the leading contributors to global real GDP growth. His interest in India has been closely watched, particularly as his companies face mounting challenges in traditional Western markets.
Tesla’s momentum in China has slowed, while Europe continues to grapple with regulatory hurdles. Against this backdrop, India’s upward-revised growth outlook presents a compelling opportunity.
The IMF recently revised India’s growth rate to 6.3%, reinforcing the country’s appeal at a time when demand in advanced economies is softening.
The IMF projections and Musk’s remarks come amid heightened global economic uncertainty and escalating trade tensions. The instability has been exacerbated by sweeping tariffs imposed by US President Donald Trump on countries worldwide, including India and China.
For India, the IMF raised its 2025 growth projection by 0.7 percentage points to 7.3%, reflecting strong economic momentum. However, growth is expected to moderate in subsequent years.
GDP growth is projected to ease to 6.4% in 2026 and further in the following year, as cyclical and temporary factors begin to fade.
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Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
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