India's Financial services must grow 20X for $30 trillion GDP by 2047
The Business Guardian|September 06, 2024
MUMBAI 20-fold increase in the A 20 financial services sector is needed for India's goal to achieve a USD 30 trillion GDP by 2047, according to a report titled "Banking for a Viksit Bharat," released by Boston Consulting Group (BCG) in association with FICCI and the Indian Banks' Association.
India's Financial services must grow 20X for $30 trillion GDP by 2047

The report estimates that banks will need a capital base of USD 4 trillion, with one-third of this needing to be fresh capital deployment.

Despite the robust current state of India's banking system-characterized by high profitability, strong capital adequacy, and low non-performing assets (NPAs)--the sector faces challenges and opportunities to sustain its growth and support national economic ambitions.

Ruchin Goyal, Managing Director and Senior Partner at BCG, and Co-author of the report, said, "India's banking system is in a strong position today, acting as an ideal launchpad for the Viksit Bharat mission. It will have to build for the next 2 decades through structural shifts--growing deposits, enhancing asset quality, and improving productivity, while advancing digital capabilities and future competencies.".

この記事は The Business Guardian の September 06, 2024 版に掲載されています。

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この記事は The Business Guardian の September 06, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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