India is currently a $ 3.1 trillion economy. It took India 60 years since Independence to become one trillion-dollar economy, but the next trillion dollars was added only in 7 years. The 3rd trillion was added in just 5 years in 2019. The growing momentum could see India add on average 1 trillion dollar to its economy every two years for the next 14-15 years. According to the report of the Centre for Economics and Business Research (CEBR), India will become a $ ten trillion economy by 2035.
Pierre-Olivier Gourinchas, chief economist of the IMF recently pointed out that India has emerged as “a bright light” at a time when the world is facing imminent prospects of a recession. This optimism is a result of certain fundamentals that have allowed India the scope for high growth in coming years.