Question
Which rating agency predicts that by 2030, India will
secure the position of the world's third-largest economy?Solution
India will become the world's third-largest economy by 2030, a report released by S&P Global Ratings. In 2026-27, India's gross domestic product (GDP) is expected to grow 7 percent. India is currently the fifth largest economy in the world behind the US, China, Germany and Japan. In its "Global Credit Outlook 2024", S&P said that India would be the fastest-growing emerging market in the world. Still, its paramount test will be whether the country can become the next big global manufacturing hub. S&P said India is expected to grow at 6.4 percent in 2023-24 as compared to 7.2 percent in the previous financial year. The growth rate will remain at 6.4 percent in 2024-25 before climbing to 6.9 percent in the next and 7 percent in 2026-27.
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