India's Emergence as a Global Economic Giant by 2030

India is set to become the third largest global economy by 2030. Despite population challenges, the country aims for economic growth and increased investment. Entry into the JP Morgan Government Emerging Market Bond Index will boost funding, highlighting the ambitious strategies for future progress in emerging markets.

India is on the path to becoming the third-largest world economy by 2030, but its burgeoning population poses challenges to basic service provision and investment, according to S&P Global Ratings.

The country aspires to expand its economy to USD 30 trillion by 2047 from the current USD 3.6 trillion. India's future prospects are brightened by its planned entry into JP Morgan's Government Emerging Market Bond Index in 2024, which could enhance government funding and open up resources in domestic capital markets.

S&P's report, 'Look forward Emerging Markets: A decisive decade', emphasizes India and other emerging markets' pivotal roles in steering the global economy in the next decade. By 2035, these markets are expected to account for 65% of global economic growth, with India poised to cement its position as the third-largest economy.

(With inputs from agencies.)