India’s economy is expected to rank third globally by 2030, according to S&P. According to S&P Global Ratings, which released its forecast on Tuesday, India’s GDP is expected to grow by 7% in the fiscal year 2026–2027, making it the third largest economy in the world by 2030. In the following three years, the nation’s economy is predicted to grow at the fastest rate among major economies.
According to S&P’s Global Credit Outlook 2024 report, GDP growth in the fiscal year ending in March 2024 is expected to be 6.4%, down from 7.2% in the previous financial year.
The following fiscal year (2024–25) is predicted to see a growth rate of 6.4%, which will be increased to 6.9%, and then to 7% in the fiscal year 2026–2027, according to the growth trajectory. According to S&P, “We see India reaching 7% in the fiscal year 2026–2027.”
According to S&P, “India’s economy is predicted to grow at the quickest rate among major economies over the next three years, making it the third largest by 2030.” After the US, China, Germany, and Japan, India’s economy is currently the fifth largest in the world.
The report emphasized that India has a great chance to become a global manufacturing hub, but that this change will require the establishment of a strong logistics infrastructure.
“India’s potential to emerge as the next major global manufacturing hub will be put to the ultimate test. It stated that creating a robust logistics infrastructure would be essential to converting India’s economy from one centered on services to one centered on manufacturing.
The report went on to say that programs like increasing the number of women in the workforce and upskilling workers depend on the labor market’s potential being successfully unlocked.
The report also mentioned how, over the next ten years, India’s rapidly expanding domestic digital market will propel growth within the high-growth startup ecosystem, especially in the consumer and financial technology sectors.
Furthermore, it stated that increased investment, innovation, and the development of infrastructure are all expected to support the growth of the automobile industry in India.
