Question
According to S&P Global Ratings, what is the projected
GDP growth for India by the year 2026?Solution
According to S&P Global Ratings, India is expected to be the world's third-largest economy by 2030. The US-based rating agency anticipates India to be the fastest growing major economy in the next three years, with a projected GDP growth reaching 7.0% by 2026. This outlook is an increase from the 6.4% projected expansion in the current fiscal year. The agency's positive assessment reflects India's strong economic performance, with a growth rate of 7.2% in the 2022-23 fiscal year and notable expansions of 7.8% and 7.6% in the June and September quarters, respectively. The challenge for India lies in unlocking the immense economic opportunities and positioning itself as a key global manufacturing hub.
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