Propelled by growth in services and manufacturing sectors, coupled with an appreciating rupee, India’s economy has swelled to a trillion dollars - making it only the 12th nation to reach this milestone.

India’s GDP crossed the $1.01 trillion mark at current market prices on Wednesday, becoming the world’s 12th economy to surge past that defining milestone. The historic moment was orchestrated when the rupee rose over the 41 level in relation to the US dollar, touching its highest value in nine years.

According to government data, India’s economy at market prices stood at Rs 41,25,724 crore at the end of fiscal 2006-07, which equals nearly $1,010 billion at the current foreign exchange rate of the rupee.

Only the US, Japan, Germany, China, UK, France, Italy, Spain, Canada, Brazil and Russia have breached the trillion-dollar GDP level in the past.