The research paper examines the importance of the key macroeconomic variables on the Gross Domestic Product (GDP) of India between the years 2000–2023. Additionally, the study employs various statistical methods including Multiple Regression Model, Trend Analysis and the ARIMA models. The study contains various economic growth parameters in the dataset like foreign direct investment (FDI) inflow and outflow, exports, imports, savings, and government expenditure and the aim is to find out the key drivers for the economic growth in the country. The multiple regression model helps in finding out the relation between the GDP and the macroeconomic factor and the trend analysis and ARIMA model helps in forecasting the future GDP trends. Moreover the findings provide insights for policymakers who aim for a sustainable economic growth of the country.