Daijiworld Media Network – New Delhi
New Delhi, Jan 11: Amid global economic uncertainty and geopolitical challenges, India continues to shine as a beacon of growth, positioning itself as a key driver of global and South Asian economic progress, leading economists said on Saturday.
The United Nations’ World Economic Situation and Prospects (WESP) 2025 report forecasts India’s economy to expand by 6.6 percent, significantly outpacing the global growth rate of 2.8 percent, the US at 1.9 percent, and China at 4.8 percent.
“India’s impressive growth trajectory stems from a series of structural reforms implemented over the past several years. With an average economic growth rate exceeding 8 percent, the nation’s progress is both inspiring and encouraging,” said Dr. S.P. Sharma, Chief Economist and Deputy Secretary General of the PHD Chamber of Commerce and Industry (PHDCCI).
India is on track to become the world’s third-largest economy by 2027, with its GDP projected to reach $7 trillion by 2030, buoyed by strong reforms and a resilient growth trajectory.
Sanju Verma, an economist and BJP national spokesperson, highlighted India’s pivotal role in global GDP growth for 2025. “India will be the torchbearer of global economic expansion, driven by robust private consumption, which has shown consistent growth of over 6 percent quarter after quarter. In fact, two quarters ago, private consumption recorded a remarkable growth of 7.4 percent,” she said.
Economists also pointed to the strong performance of India’s Index of Industrial Production (IIP), which reached a six-month high of 5.2 percent in November. This growth was fueled by manufacturing, which rose by 5.8 percent, and robust performances across key sectors.
“Eighteen out of 23 industry groups posted positive growth, with consumer durables leading the way, growing by an impressive 13.1 percent,” Verma noted.
The foundations of India’s economic momentum lie in capital goods, infrastructure, construction, and private consumption, according to Verma. “These pillars are driving the Indian economy forward, providing a strong base for sustained growth,” she added.
With its steadfast progress, India is expected to remain a standout performer in the global economic landscape, bolstering both regional and international growth trajectories.