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.

Did you know that India, which is the world’s 5th largest economy, has leapt from the 11th to the 5th spot in just a decade? In fact, India’s economy has grown over 90% in the last 10 years from 2013 to 2023 as per IMF’s World’ Economic Outlook data.

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.

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 set to become the third-largest economy by 2030-31, driven by a 6.7% growth rate. India is on track to become the third-largest economy by fiscal 2030-31, driven by a robust projected annual growth rate of 6.

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