BUSINESS

Between 2035 and 2040, India will increase its GDP by almost 30%: Amitabh Kant

May 18, New Delhi According to G20 Sherpa and former CEO of NITI Aayog Amitabh Kant, India is expected to contribute thirty percent of the world’s gross domestic product (GDP) between 2035 and 1940. Kant made this prediction on Saturday.

Kant said that structural improvements in the nation had moved it up from the “fragile 5” to the “top 5” during a session on the second day of the ‘CII Annual Business Summit 2024’ in the nation’s capital.

Over the previous three quarters, there has been a growth rate of around 8.4% due to the massive number of changes implemented across the board.

Kant also asked India Inc. to collaborate with states to quicken their growth, with the goal of creating 12–13 “champion states” that would expand at a pace of 10–11 percent annually.

According to a recent S&P Global analysis, India’s economy will rise to become the third biggest in the world by 2030 and will record the highest rate of growth among major economies over the following three years.

Additionally, the growth prediction for India in 2024 has been changed by the UN by 70 basis points, from 6.2% to 6.9%, as previously anticipated in January.

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