Business

India Expected To Become 3rd Largest Economy By 2030: Report

By 2030, the Indian economy is expected to rank third in terms of GDP, according to S&P Global Market Intelligence’s Asia Credit Outlook 2023 report. In the medium to long term, the expanding Indian economy will present numerous opportunities.

India’s economy is predicted to surpass both Japan’s and Germany’s by 2030, making it the third largest in the world. India’s GDP is expected to reach USD 7.3 trillion by 2030, according to the S&P Outlook.

India’s economy, projected to be worth USD 3.7 trillion in 2023–24, ranks fifth in the world. In 2022, it overtook the United Kingdom as the fifth-largest economy.

According to a report by S&P Global Market Intelligence, India’s economy exhibited remarkable strength, maintaining its position as the top emerging economy with remarkable growth momentum.

Out of all these economies, India’s growth picked up speed in August, and its output grew at one of the fastest rates in less than 13 years. The report claims that throughout the year 2023, the Indian economy grew steadily.

A significant rise in new business, fueled by favourable market dynamics and favourable demand conditions, contributed to India’s strong expansion.

The remarkable growth trajectory of India can be attributed to both its manufacturing and services sectors.

China and Russia, on the other hand, saw slower growth starting in August and saw more moderate expansions.

Also Read: Right To Marry Person Of Choice Undeniable: Delhi High Court

Shivanshi Srivastava

Recent Posts

Yogi Government Launches Massive Green Initiative For Maha Kumbh 2025

The Yogi Adityanath administration has launched a tree-planting campaign to make Prayagraj environmentally sustainable for…

12 mins ago

BJP MLA Rajeshwar Singh Calls On Akhilesh Yadav To Act As Positive Opposition In UP DGP Debate

Singh noted that, over seven years, police encounters have killed 197 criminals and injured 6,329.…

23 mins ago

Election Commission Appoints Sanjay Kumar Verma As New DGP For Maharashtra

The Election Commission of India endorsed the appointment of Sanjay Kumar Verma as the new…

52 mins ago

Devotees Mistakenly Collect AC Condensation As ‘Charan Amrit’ At Mathura Temple

Devotees at Mathura's Banke Bihari temple gathered to collect water dripping from a sculpted elephant,…

1 hour ago

State Cannot Claim Private Property Under Article 39(b): Supreme Court

A nine-judge SC bench ruled that the State cannot indiscriminately seize private property for redistribution…

2 hours ago

RG Kar Case: Junior Doctors In West Bengal Protest Alleged Gaps In CBI Chargesheet

Junior doctors in WB protested Tuesday over alleged flaws in the CBI chargesheet on their…

2 hours ago