The country's GDP crossed the trillion-dollar when rupee appreciated to below 41-level against the US greenback on Wednesday, Swiss investment bank Credit Suisse said in a report published on Thursday.
Countries like the US, Japan, Germany, China, UK, France, Italy, Spain, Canada, Brazil and Russia have all breached trillion-dollar GDP level in the past.
The bank put the country's GDP at around Rs 41,00,000 crore, which translates to slightly more than one trillion dollar at the current currency level of Rs 40.76 per USD.
Besides, the country's stock market capitalisation has rose to USD 944 billion, which is also closing fast on the trillion-dollar level, it added.
The rupee has gained close to 13 percent since moving past 47 a dollar in July-August last year.
Continuing its up-trend for the fifth day in a row, the Indian currency on Thursday rose to as high as 40.72 to a dollar after breaching the 41-level on Wednesday to its highest level since May 1998.
Before the rally began about a month ago when the rupee was hovering at 45 to a dollar, the country's GDP was estimated at around USD 900 billion.
India becoming a trillion dollar economy also augurs well for the country's stock market, as Credit Suisse report said that stock markets in eight out of ten countries had risen in the one year after their economies first crossed this mark. - DDNews India