India is likely to have the third-largest economy in the world by fiscal year 2030-31 as a result of accelerating Gross Domestic Product (GDP) growth and implementation of economic reforms in the country.
Oku.Az It is reported with reference to TASS.
S&P Global experts note that India can achieve this ambitious goal with a projected GDP growth rate of 8.2% in the current fiscal year 2024-2025. But this will require ongoing reforms aimed at improving business operations, logistics, stimulating private investment and reducing dependence on public capital.
India’s economic progress is underpinned by the dynamism and competitiveness of its stock markets, as well as by a sharp increase in foreign investment flows in government bonds following the country’s inclusion in major emerging market indices.
To achieve the status of the world’s third-largest economy, India will need to build a reliable port infrastructure, as nearly 90% of the country’s trade is carried out by sea. Moreover, balancing energy security with plans to transition to a green economy will require widespread adoption of modern technologies, including the use of renewable energy sources and low-emission fuels.
