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 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 and increasing natural disasters affecting the country. Key reforms like boosting urbanization, globalization, increasing women's participation, and agricultural reforms will need to be implemented for India to achieve its $5 trillion economy ambition.