Indian Economy

February 28, 2025 3:33 PM

India needs to grow by 7.8 pc to reach high-income status by 2047, a possible target: World Bank

A new World Bank report on Friday said that India needs to grow by 7.8 per cent on average over the next 22 years to achieve the country’s aspirations of reaching high-income status by 2047 -- a target that is possible to achieve. The new 'India Country Economic Memorandum' titled ‘Becoming a High-Income Economy in a Generation,’ finds that this target is possible. Recognising India’s fast pace of growth averaging 6.3 per cent between 2000 and 2024, the WB report noted that India’s p...

February 1, 2025 11:33 AM

India world’s fastest growing economy on way to become Viksit Bharat: FM Sitharaman

India is the world's fastest-growing economy, and the government will ensure tremendous growth in coming years across the spectrum on the way to becoming "Viksit Bharat", Union Finance Minister Nirmala Sitharaman said on Saturday. Presenting her eighth consecutive budget and the NDA government's second full Union Budget of its third term, the Finance Minister said the Budget focuses on spurring agricultural growth, empowering farmers, supporting MSMEs and ensuring innovation while promoting exp...

January 19, 2025 4:35 PM

India to grow at 6.7% for next two years: World Bank

India is projected to sustain its position as the fastest-growing major economy, with a growth rate of 6.7% in both FY26 and FY27, according to the World Bank’s latest Global Economic Prospects (GEP) report, outpacing a global growth projection of 2.7% for 2025-26. The GEP report attributes India’s robust growth to a thriving services sector and a revitalized manufacturing base, driven by transformative government initiatives. From modernizing infrastructure to streamlining taxes, these mea...

January 9, 2025 2:35 PM

Indian economy expected to clock 6.8 percent growth in 2025-26: report

The Indian economy is projected to grow at a robust 6.8 percent in the financial year 2025-26, driven by strong high-frequency indicators, according to a Bank of Baroda forecast. The report expects nominal GDP growth to be around 10.5 percent during the next financial year. It highlights that key indicators of this growth include robust air passenger traffic, a rise in services PMI, and increased GST collections. Additionally, higher rabi crop sowing is expected to boost agricultural growth, pr...

January 8, 2025 3:36 PM

Private equity investments in India surge to $15 billion in 2024, marking 46.2% growth

Private equity (PE) investments in India soared to $15 billion in 2024, reflecting an impressive 46.2% growth compared to the previous year. This surge was fueled by sectors such as healthcare, pharmaceuticals, consumer-related industries, and technology, supported by a stable political climate and a favorable policy environment, according to a report released on Wednesday. India’s expanding middle-class population, a thriving startup ecosystem, and a robust IPO market provided abundant oppor...

January 2, 2025 7:37 PM

India’s job creation accelerates with 4.67 crore jobs in 2023-24

The Indian economy added an impressive 4.67 crore jobs in the financial year ending March 2024, and the pace of job creation has continued into 2024-25, with growth observed in both formal and informal sectors, according to official data. The total estimated employment in India’s Unincorporated Sector recorded a robust growth of 10.01% during the period from October 2023 to September 2024, compared to the previous year, as revealed by the Annual Survey of the Ministry of Statistics, released ...

December 26, 2024 12:01 PM

India projected to witness 6.5 per cent real GDP growth in current, next fiscal: report

India is projected to witness 6.5 per cent real GDP growth in the current and next fiscal (FY25 and FY26), according to a report on Wednesday. This aligns with expectations, given the resilient economy and strong fundamentals. The latest 'EY Economy Watch December 2024' report estimated that by combining the real GDP growth of the first two quarters of FY25, at 6.7 per cent and 5.4 per cent, respectively, with the RBI's revised growth estimates for the third and fourth quarters of FY25, at 6.8 ...

December 16, 2024 3:22 PM

India to be fastest-growing major economy in 2025, regionally and globally: Mastercard

According to the Mastercard Economics Institute (MEI) annual economic outlook report released on Monday, India is expected to be the fastest-growing major economy in 2025, both globally and within its region, fueled by a strong middle class and continued investment. The MEI’s report for the Asia Pacific region also highlighted India as the fastest-growing major economy with an anticipated GDP growth of 6.6 per cent and consumer spending projected at 6.2 per cent in 2025. “Buoyed by a robus...

December 12, 2024 12:53 PM

India’s $2.2 trillion infrastructure drive to fuel $7 trillion economy by 2030, boosting private investment

An estimated $2.2 trillion investment in infrastructure development is crucial for India to expand its GDP to $7 trillion by 2030, according to a report released on Thursday. To achieve this ambitious economic size, India’s economy must grow at a compounded annual growth rate (CAGR) of 10.1% between 2024 and 2030, as highlighted in the report by Knight Frank India. The report estimates that the investment opportunity for private sector participation in India’s infrastructure development ra...

October 14, 2024 11:17 AM

5G to inject USD 450 billion into Indian economy by 2040: Telecom Minister Scindia

Union Minister of Communications Jyotiraditya Scindia said on Monday that the adoption of 5G technology in India is expected to contribute an estimated $450 billion to the country’s economy by 2040. Speaking at the Global Standards Symposium, one of the world’s largest telecom events, held at Bharat Mandapam in New Delhi, Scindia said: "In India alone, 5G is anticipated to inject an astounding 450 billion dollars into the economy by 2040." Scindia underscored that 5G is about more than jus...