The Country's GDP Will Reach 10 trillion Dollars by 2032

 

 

The country's economy is expected to grow and reach 10 trillion dollars by 2032. Over the next six years, it is projected that the economy will increase by 1 trillion dollars every 18 months. In a report released on Saturday by ICIBI Capital, it was stated that India will emerge as the third-largest economy by 2030. According to the report, the rapid growth of the country will be primarily driven by the manufacturing sector. This sector is expected to contribute about 32% to the total Gross Value Added (GVA). Initiatives like "Make in India" will help enhance the country’s manufacturing capabilities and position India as a global manufacturing hub.

The report predicts that by 2024, the country's economy could reach up to 4 trillion dollars, despite the slowdown caused by the COVID-19 pandemic. Growth momentum is expected to pick up rapidly in the coming years.

Every 18 Months, 1 trillion Dollar Growth Expected for the Next Six Years

India is expected to rank ahead of countries like the USA, China, Germany, South Korea, and Japan in terms of the global manufacturing production index (IIP). The report also indicates that by 2030, India’s swift manufacturing progress will outpace these major economies.