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Groundwater is the most abundant freshwater resource. Agriculture, industrialization, and domestic water supplies rely on it. The depletion of groundwater leads to drought mitigation. Topographic elevation, aquifer properties, and geomorphology influence groundwater quality. As the groundwater level data (GWL) are time series in nature, it is challenging to determine appropriate metrics and to evaluate groundwater levels accurately with less information loss. An effort has been made to forecast groundwater levels in India by developing a deep ensemble learning approach using a double-edge bi-directed long-short-term-memory (DEBi-LSTM) model approximated with a randomized low-ranked approximation algorithm (RLRA) and the variance inflation factor (VIF) to reduce information loss and to preserve data consistency. With minimal computation time, the model outperformed existing state-of-the-art models with 96.1% accuracy. To ensure sustainable groundwater development, the proposed work is discussed in terms of its managerial implications. By applying the model, we can identify safe, critical, and semi-critical groundwater levels in Indian states so that strategic plans can be developed.