According to S&P Global, India is on a favourable track to become the third-largest economy by 2030-31, with a projected annual growth rate of 6.7% this fiscal year. The report highlights the need for reforms to provide business transactions, improve logistics, and promote private-sector investment while decreasing reliance on public funds.
With an anticipated growth rate of 8.2% in FY2024, the focus on infrastructure development and sustainable technologies is important.
About 90% of India’s trade is driven by sea, emphasizing the importance of powerful port infrastructure to manage growing exports and bulk commodity imports. The ‘India Forward: Emerging Perspectives’ report highlights India’s need to design strategic infrastructure and geopolitical plans, mainly regarding its vast coastline, to capitalize on trade possibilities completely.
The report also points out that India’s equity markets are set to remain dynamic and competitive, thanks to strong growth prospects and improved regulations. Foreign investments in Indian government bonds have surged since the country joined major emerging market indexes, with further growth expected.
As India faces rising domestic energy demands, the report suggests turning to sustainable technologies, including renewables and low-emission fuels, to balance energy security with transition plans. In agriculture, advanced technologies and new policies are essential to improve infrastructure and productivity.
Addressing critical issues like irrigation, storage, and supply distribution is vital for ensuring food security and economic stability.
Launched on Thursday, the S&P Global India Research Chapter’s inaugural study provides a comprehensive overview of India’s economic trajectory and the necessary steps to sustain growth and stability.
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The content provided in this article is for informational purposes only and is based on publicly available data, including the S&P Global report. While we strive for accuracy, we do not take responsibility for any errors or omissions. Readers are advised to consult professional financial advisors before making any economic or investment decisions based on this information.
