India to be third largest economy by 2030: S&P
New Delhi, December 5
Global Ratings agency S&P on Tuesday said India will be the world’s third-largest economy by 2030, but a major test for the country would be to unlock the ‘immense opportunity’ and become the next big global manufacturing hub.
The US-based rating agency expects India to be the fastest growing major economy in the next three years, with GDP growth reaching 7% by 2026, from 6.4% projected expansion in the current fiscal.
“India is set to become the third-largest economy by 2030, and we expect it will be the fastest growing major economy in the next three years. A paramount test will be whether India can become the next big global manufacturing hub, an immense opportunity,” the ratings agency said. — PTI
Forecasts 7% GDP growth by 2026
- The US-based rating agency expects India to be the fastest growing major economy in the next three years, with GDP growth reaching 7% by 2026, from 6.4% projected expansion in the current fiscal
- Indian economy grew by 7.2% in the financial year 2022-23 ended March 2023
- India’s GDP expanded by 7.8% and 7.6% in the June and September quarters, respectively
