India can become the world's third-largest economy by 2030, overtaking Japan, S&P released figures

According to the latest PMI data by S&P Global Market Intelligence, India can become the world's third-largest economy by 2030.

According to S&P Global, India is expected to become the world's third-largest economy by 2030 with a GDP of US$7.3 trillion, surpassing Japan.

According to data from S&P Global Market Intelligence, after India's rapid economic growth in the years 2021 and 2022, the Indian economy is showing continued strength in the calendar year 2023.

India's gross domestic product (GDP) is expected to grow 6.2-6.3 percent in the fiscal year ending March 2024, making it the fastest-growing major economy this fiscal year, according to S&P data. India's economy grew 7.8 percent in the April-June quarter.

The surge in foreign direct investment (FDI) in India over the last 10 years reflects favorable long-term growth for the Indian economy.

S&P estimates that India's GDP may surpass Germany's by 2030. Let us tell you that only last year, India had overtaken Britain to become the fifth-largest economy in the world.

Currently, America is the world's largest country with a GDP of US $ 25.5 trillion and accounts for a quarter of the world's GDP.

In second place is China, whose GDP is 18 trillion US dollars. China accounts for about 17.9 percent of world GDP.

Japan is in the third position with US$ 4.2 trillion, followed by Germany in the fourth position with US$ 4 trillion.

According to S&P data, by 2030, 1.1 billion Indians will have internet, which will be double the 500 million users in 2020.