According to the Centre for Economics and Business Research, India’s progress toward becoming the third economic powerhouse and reaching the $10 trillion milestone by 2035 appears “unstoppable” (CEBR). India’s yearly GDP growth rate is anticipated to average 6.4% over the following five years before increasing to an average 6.5% over the following nine years. According to the analysis, India’s growth trajectory will take it from fifth on the CEBR’s World Economic League Table in 2022 to third in the world rankings by 2037.
Thanks to a pickup in economic activity following the Covid epidemic, which severely hurt the economy, India had the fastest-growing economy in the world in FY 2021–2022. According to the firm, India’s fiscal year 2022/23 will come to a successful conclusion. It also predicts that India’s growth would continue to be strong at 6.8%. “In turn, this would increase output by 8.4% over 2019 levels. Although CEBR predicts growth of 5.8%, output growth is anticipated to slow in fiscal year 2023–2024 as rising prices reduce domestic demand “the British consultancy claims.