The Next Chapter

India’s GDP will keep growing but the real challenge is to make many hundred million Indians prosperous

In a development replete with both substance and symbolism, India has overtaken the UK to become the fifth largest economy. Powered by a massive young demographic waiting to burst into the middle class and a robust digital ecosystem, India is certain to grow bigger in coming years. SBI Research indicates that India could become the third largest economy before this decade ends. India has survived the Covid pandemic and the Ukraine war avoiding the surging inflation and energy crisis that’s hit countries like the UK. In hindsight, GoI has been proved right in its resolve to not run up a high fiscal deficit, despite pressure to imitate the West’s overgenerous stimulus packages.