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.

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”.

The report highlighted that reforms are key to sustaining this momentum, with an anticipated 8.2 per cent growth in FY2024.

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's economic growth projections, reforms, and opportunities for growth in various sectors highlighted in S&P Global report.

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.