India's Economic Surge: A Closer Look at the Growth Trajectory

India's economy expanded by 6.5% in FY 2024-25, maintaining its status as the fastest-growing major economy. Driven by strong performances in agriculture and services, India aims to accelerate growth to 8% by 2047. Despite external challenges, steady gains continue, reflecting resilient market dynamics and strategic reforms.

Widely anticipated economic data reveals that India's economy expanded by 6.5% in the fiscal year 2024-25, according to the Ministry of Statistics and Programme Implementation. The National Statistics Office's second advance estimates had projected this growth, cementing India's position as a leading global economic contender.

The Reserve Bank of India's forecast matched the official reports, reflecting a steady upward trend following an impressive 9.2% growth in the previous year. India continues to outperform other major economies, with significant growth in the service and agricultural sectors and a consistent rise in domestic consumption and exports.

Despite global economic challenges, India remains on a robust growth trajectory. Union Minister Piyush Goyal highlighted the nation's potential to maintain and even accelerate this momentum for decades, emphasizing the need for comprehensive reforms to achieve ambitious developmental goals by 2047.

(With inputs from agencies.)