INDIA – Fastest Growing Major Economy

7 days ago
thedialog
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Picture Source : Adobestock.com

5th Largest Economy in the world (2023)
3rd Largest Passenger Vehicle market in the world (2023)
1st Largest 2 wheeler market in the world(2023)

Key features

Rapid GDP Growth – Growth rate of 7.2% in FY 2023, 6-7%Yo Y growth for next 3 years (projected)
3rd Largest Economy by 2030 – Expected to reach USD 37 Tn by 2047  from USD 3.75 Tn (2023)
Rising per Capita Income – Expected to reach USD 12,400 by 2047 from USD 2,500 (2023)
Young skills and Talent – 522 Mn working population with median age of 28 years – with 1.5 Mn graduating engineers (annually)
3rd Largest start up Ecosystem – 111 unicorns with combined evaluation of around USD 350 Bn(2023)
Towards Net Zero – India’s long-term goal to be Net Zero by 2070

Disclaimer: the above estimates and figures are for FY 2023.
*Source : Government of India Budget Documents, IMF and S&P Global.

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