India’s GDP Would Rank 3rd By 2030: S&P

According to S&P Global Ratings, which released its projection on Tuesday, India’s GDP growth will hit 7% in the 2026–2027 fiscal year, making it the third largest economy in the world by 2030. According to S&P’s Global Credit Outlook 2024, GDP grew by 6.4% in the fiscal year that ended in March 2024 (2023–2024) as opposed to 7.2% in the preceding fiscal year. As to the rating agency, the growth rate is expected to stay at 6.4% in the upcoming fiscal year (2024–25) and then increase to 6.9% in the following and 7% in 2026–27.  the next three years,” stated S&P. India’s economy is currently the fifth largest in the world, after that of the US, China, Germany, and Japan.  It stated that the transformation of India’s economy from one centered on services to one centered on manufacturing will require the development of a robust logistics system. Upskilling employees and boosting female employment participation will be critical to realizing the promise of the labor market. Over the next ten years, S&P projects that growth in India’s high-growth startup ecosystem, particularly in the financial and consumer technology sectors, could be fueled by the country’s burgeoning digital market. According to the report, India is well-positioned to expand its automotive industry by using innovation, investment, and infrastructure.