India's current GDP is $2.94 trillion, making it the 5th largest economy globally. However, to reach its goal of a $5 trillion economy by 2024, India would need to grow at over 9% per year in nominal dollar terms. This would be challenging given India's most recent quarterly growth was under 6% in real terms. Several factors make the $5 trillion goal difficult, such as underdeveloped regions that cannot significantly contribute to GDP, as well as increasing natural disasters affecting many parts of India. Key reforms like boosting urbanization, agriculture, women's participation, and addressing high inflation will be needed for India to achieve its $5 trillion ambition.