♦ According to the S&P Global latest report, India will become the world's third-largest economy by 2030-31, with an expected annual growth rate of 6.7 percent this fiscal year (2024-25). According to the report, titled "India Forward", continued reforms are crucial to improving business transactions and logistics, boosting private sector investment, and reducing reliance on public capital.

♦ The report highlighted that reforms are key to sustaining this momentum, with an anticipated 8.2 percent growth in FY2024. 

Highlights:

♦ Infrastructure development and geopolitical strategies will play an important role in maximising trade benefits.

♦ The report also mentioned that foreign inflows into Indian government bonds have surged since the country joined major emerging market indexes, with further growth anticipated.