Key Points
Capital accumulation and enhancement in physical and digital infrastructure will drive and sustain Indian economy to average 6.7% growth between FY24 and FY31 and double the size of the economy to $6.7 trillion within the next eight years, S&P Global Ratings stated in its report released on Thursday...
It forecasted Indias per capita GDP to increase to $4,500 by FY31..
We expect the Indian private sector to gradually increase investments given healthy corporate balance sheets, S&P Global said, further pointing that growth from productivity contribution will be higher due to the creation of physical and digital infrastructure in conjunction with efficiency-enhancing reforms...
Indias path to becoming a more influential global actor will be determined by how effectively it can manage its federalism balancing act and mobilize the participation of grassroots interests, said Deepa Kumar, Head of Asia-Pacific Country Risk, S&P Global Market Intelligence...
Deeper domestic financial markets will facilitate more efficient allocation of investment funds and better pricing of resources, easing implementation of national privatisation, innovation, and sustainability agendas, noted Jose Perez-Gorozpe, Head of Credit Research, Emerging Markets, at S&P Global Ratings in the report...
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