India is on track to become the third-largest economy by fiscal 2030-31, driven by a robust projected annual growth rate of 6.7, the credit rating agency S&P Global said in its report named India Forward Emerging Perspectives. Along with its projections, the credit rating agency suggested some measures to push the growth of the economy.

By bno - Mumbai Office India is on course to become the third-largest global economy by fiscal 2030–31, according to a report by S&P Global, published on September 19. The forecast is based on an expected annual growth rate of 6.

India is well poised to become the third-largest economy by fiscal 2030-31, led by a robust projected annual growth rate of 6.7, credit rating agency S&P Global said in its report “India Forward Emerging Perspectives”.

India is on track to become the third-largest economy by fiscal 2030-31, driven by a robust projected annual growth rate of 6.7 per cent, a report by S&P Global projected on Thursday.

Emerging Perspectives, noted that India is expected to register an impressive growth rate of 8.2 per cent in FY24

This follows an impressive GDP growth of 8.2 per cent in the fiscal year 2024, significantly exceeding the government’s earlier estimate of 7.3 per cent.

Emerging Perspectives’ report said that India must develop infrastructure and geopolitical strategies, particularly regarding its extensive coastline to maximise trade benefits.