Seize the opportunity | SAIGON GIAI PHONG NEWSPAPER

According to the India Outlook report recently released by Crisil Ratings, a member of S&P Global, the world's most populous country's economy is expected to grow 6.8% in the next fiscal year and could achieve upper-middle income status by 2031. Also according to Crisil, from 2025 to 2031, the value of the Indian economy is expected to exceed 5,000 billion USD, moving closer to 7,000 billion USD.

Based on domestic reforms and cyclical factors, the forecast suggests that India is likely to even surpass its growth outlook as it aims to become the world's third-largest economy in the next seven years, with an average growth rate of 6.7%.

According to Crisil's forecast, by fiscal year 2031, the world's fifth-largest economy's per capita income will reach $4,500. The Indian government also aims to achieve developed economy status by 2047. On page X, Prime Minister Narendra Modi affirmed: "The strong GDP growth of 8.4% in the third quarter of 2023 shows the strength and potential of the Indian economy." Last month, the Asian Development Bank also revised its forecast for India's annual growth rate in the fiscal year to March 2024 from 6.3% to 6.7%, outpacing all major economies in the region.

Experts say India has seized the opportunity to assert itself as a powerful economy. And the recently released Indian economic indicators support this optimistic view.

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Source: https://www.sggp.org.vn/nam-duoc-thoi-co-post729780.html