India remains the world's fastest-growing economy with investment and private consumption driving growth. The IMF retained India's gross domestic product (GDP) growth forecasts at a robust 7 per cent and 6.5 per cent for FY25 and FY26, respectively.Mobius told IANS that Prime Minister Narendra Modi's 'Digital India' and 'Make in India' programmes continue to maintain the momentum."India also has to accelerate infrastructure spending and development, along with keeping regulations that benefit productivity and further getting rid of excess bureaucracy," the ace investor stressed.The growth story remains intact as its fundamental drivers - consumption and investment demand - are gaining momentum. The RBI has forecast that the country is likely to see real GDP growth at 7.2 per cent for FY 2024-25. Prospects of private consumption, the mainstay of aggregate demand, look bright on the back of improved agricultural outlook and rural demand.According to Mobius, the stock market reflects the pickup in the economy and the growth of the economy."There will be periods when the stock market corrects downwards but this will be temporary. The general bullish trajectory is in place."According to him, consumers with per capita incomes are moving up and aspirations are rising.

India at take-off stage of devpt with young population, robust infra growth: Mobius

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