The Indian Story - A Tale Of Resilience And Growth

“In the rapidly changing world order, India is going ahead as ‘Vishwa Mitra’. India has given hope to the world that we can decide on common goals and achieve them.”- PM Shri Narendra Modi.

India’s rise to the 5th largest economy in the world, with a GDP of $3.73 trillion*, has gained attention all over the world. A report published by S&P states that India is set to become the 3rd largest economy of $7.3 trillion by 2030. This rise is driven by the resilience shown by the economy and the policy initiatives taken over the last decade. Despite the challenges of the pandemic and geopolitical conflicts, the Indian economy has shown its ability to handle the challenges appropriately and stay on track with the growth momentum.

In the last year, India has displayed steady growth, making it the fastest-growing economy amongst G20 economies. With a current growth rate of 7.3%, 7.2% in FY23, and 9.1% in FY22, India has by far outperformed the global growth rate, which is struggling to grow at 2%**. This year, India has written its name in history by becoming the first country to soft land on the south pole of the moon, successfully launching Aditya L-1 to orbit around the sun, its G20 presidency, UPI users reaching 800 million, excellent performance at Asian Games, 2 Oscar awards, the fastest rollout of 5G in the world and more such achievements. These achievements are a testament to the bright future of our beloved country. Let’s dig deeper into the Indian growth story.

**(Source: The Indian Economy – A Review – Jan 2024), *(Source: IMF, as in 2023)