S&P Global Ratings forecasts India’s GDP to be at 7% for 2026-27
India is poised to become the world’s third-largest economy by 2030 with an estimated 7 percent GDP growth in 2026-27, according to a S&P Global Ratings forecast released on Tuesday.
India is currently the fifth largest economy in the world behind the US, China, Germany and Japan.
In its “Global Credit Outlook 2024“, the S&P said: “We see India reaching 7 per cent in 2026-27 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.”
S&P said India is expected to grow at 6.4 percent in 2023-24 and the growth rate to remain at 6.4 percent in 2024-25 after which it is anticipated to accelerate to 6.9 percent in the next year and 7 percent in 2026-27.
“A strong logistics framework will be key in transforming India from a services-dominated economy into a manufacturing-dominant one,” the report said.
Unlocking the labor market potential will largely depend upon upskilling workers and increasing female participation in the workforce.
“Success in these two areas will enable India to realize its demographic dividend,” the report added.
S&P also expects a booming domestic digital market to fuel expansion in India’s startup ecosystem during the next decade, especially in financial and consumer technology.
The report is also bullish on India’s automotive sector and expects the country’s growth to be fuelled by building on infrastructure, investment, and innovation.
[With Inputs from IANS]
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Europe wants money to sustain their lifestyle & pension to aged people in coming years. They are worried on their economy to pay for their citizen policies.
2) They want to squeeze as much as possible through stock market gambling games & rob the wealth
3) Earlier it was through mutual funds. By allowing individuals to directly trade, individuals make more mistakes & lose more, they have opportunity to gain & gain.
4) Live within own means. You will not get ONE rupee more than what is written in destiny. Any more is only a debt which you have to repay in next life. Ambanis / Adanis are all professional looters, who will pay in next life. Do not get inspired by them. They have done no good to country or anyone nor donated or involved in any social activities, nor have any worthy good qualities who can talk (wisdom words) without help of any written texts or prompts from others, extempore like Sudha Murthy (though she has some child like qualities, but not a bench mark for intellectual calibre)