India’s economy to be the 4th largest by 2026, surpassing Japan
India’s economy is expected to become the fourth largest in the world by 2026, surpassing Japan, said Hemant Jain, President, PHD Chamber of Commerce and Industry (PHDCCI). By enhancing business efficiency and fostering an investment-friendly climate, the country has attracted global attention as an attractive investment destination. PHDCCI projects GDP in the current financial year (FY2024-25) to grow at 6.8% and 7.7% in FY 2025-26. India should focus on promising sectors such as agriculture and food processing, fintech, semiconductors, renewable energy, health and insurance, and a commitment to sustainable development. It suggested a five-pronged comprehensive strategy, including increased capital expenditure, enhanced ease of doing business, reduction in the cost of doing business, focus on labour-intensive manufacturing and greater integration in global value chains, to lead India’s growth trajectory to higher growth in the coming years, as per a report.
Source: Exim News Service: New Delhi, Jan. 20