By bno - Mumbai Office India is on course to become the third-largest global economy by fiscal 2030–31, according to a report by S&P Global, published on September 19. The forecast is based on an expected annual growth rate of 6.

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.

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

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”.

Emerging Perspectives, noted that India is expected to register an impressive growth rate of 8.2 per cent in FY24

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.

Emerging Perspectives’ report said that India must develop infrastructure and geopolitical strategies, particularly regarding its extensive coastline to maximise trade benefits.