India Strengthens Global Economic Position, Contributes 6.7% to World Growth in 2024–25

India’s role in driving global economic growth continues to expand, with the country contributing 6.7% to the world’s economic growth in 2024–25, according to the latest S&P Global report. Of this, the share of the State Bank of India (SBI) alone stands at 1.1%.

 

The report estimates that India’s GDP will grow by $297 billion in 2024–25, bringing its total GDP to $4.118 trillion. This significant increase reflects India’s rising influence and importance in the global economy.

 

SBI’s domestic contribution is equally noteworthy. In 2024–25, SBI’s share in India’s GDP is projected to be 16%, highlighting the bank’s critical role in the country’s economic engine. The financial services giant has contributed 8.7% to the overall growth in the gross value added (GVA) of the economy’s service sector.

 

SBI’s $297 billion GDP contribution includes $44 billion in direct value addition from its activities. The bank’s overall impact—direct and indirect—is equivalent to 16% of India’s GDP growth for the year, underscoring its significance in both domestic and global contexts.

 

Experts say India’s expanding share in global growth not only reflects strong economic fundamentals but also positions the country as a major driver of global development in the coming years.