What’s in the news?

• S&P Global Market Intelligence, a leading provider of financial and industry data, has predicted that India’s gross domestic product (GDP) is expected to rise to USD 7.3 trillion by 2030 and it will surpass Japan to become the second largest economy in the Asia-Pacific region.
• By 2030, India’s GDP is also forecast to surpass Germany. At the end of 2022, the size of Indian GDP had already become larger than the GDP of the UK and also France.
• India is now the third-largest economy in the Asia-Pacific region and the fifth-largest in the world.
• India is expected to continue to be one of the world’s fastest growing economies over the next decade, which will make it one of the most important long-term growth markets for multinationals in a wide range of industries.
• The acceleration of foreign direct investment (FDI) inflows into India over the past decade reflects the favourable long-term growth outlook for the Indian economy, helped by a youthful demographic profile and rapidly rising urban household incomes.

https://indianexpress.com/article/business/economy/india-to-outpace-japan-as-second-largest-economy-in-asia-by-2030-sp-global-market-intelligence-8998058/