India’s dominance in the global economy is rapidly increasing. The country’s share in global GDP growth will rise to 9 percent by 2035. This is up from 6.5 percent in 2024, as stated by M Nagaraju, Secretary of the Department of Financial Services. He shared this projection at a recent infrastructure conclave.
Even amid global uncertainty, India’s economy is progressing rapidly. It remains the fastest-growing economy in the world. This growth is supported by strong domestic fundamentals and consistent policy reforms.
The country has maintained an impressive growth trajectory. Over the past four years, it has grown at an average annual rate of 8 percent. The most recent quarterly GDP growth was 7.8 percent, the highest in five quarters.
India’s external sector is also performing exceptionally well. The current account deficit in the last quarter was only 0.5 percent of GDP. This indicates a healthy balance in international trade.
Net services exports are growing rapidly. These factors collectively strengthen India’s economic standing. They provide a robust platform for future expansion.
Such macroeconomic success sets a solid foundation for infrastructure ambitions. It signals that India’s growth is both resilient and reform-driven. The country is becoming a key engine of global growth.
M Nagaraju emphasized that India could become a developed nation by 2047. This would coincide with the 100th anniversary of Independence. The economic momentum supports this ambitious vision.
Complementing the economy’s strength, the banking and financial sector has shown remarkable resilience. Public sector banks, in particular, have performed well. In fiscal year 2024-25, they outpaced private sector banks in credit growth.
This financial robustness supports broader economic objectives. It enables investment in critical areas like infrastructure. A strong banking system is vital for sustained development.
India’s growth story is attracting global attention. The country is positioning itself as a leader in the post-pandemic economic order. Prudent policies and reforms are key drivers.
The Secretary’s address highlighted India’s role as a growth engine. This role is expected to expand in the coming years. The global economy will benefit from India’s expansion.
Infrastructure development is a priority. Economic growth provides the resources needed for large-scale projects. This synergy will accelerate progress.
India’s rise is a testament to sound economic management. The future looks promising as the country continues its upward trajectory.