INSUBCONTINENT EXCLUSIVE:
Report also said that with 8.2 per cent growth rate in FY2024, continued reforms are crucial to improving business transactions and
logistics, boosting private sector investment | (Photo: Shutterstock)2 min read Last Updated Sep 19 2024 | 3:49 PM IST
India is on track
to becoming the third-largest economy by 2030-31, driven by a projected annual growth rate of 6.7 per cent this fiscal, S-P Global said in a
report on Thursday.
The report also said that with 8.2 per cent growth rate in FY2024, continued reforms are crucial to improving business
transactions and logistics, boosting private sector investment, and reducing reliance on public capital.
It said equity markets are
expected to stay dynamic and competitive due to strong growth prospects and better regulation, and foreign inflows into Indian government
India must develop infrastructure and geopolitical strategies, particularly regarding its extensive coastline, said the first edition of
'India Forward: Emerging Perspectives' report.
Nearly 90 per cent of India's trade is seaborne, necessitating robust port infrastructure
to manage increasing exports and bulk commodity imports, it added.
Noting that India faces rising domestic energy demands and can look to
sustainable technologies, including renewables and low-emission fuels, balancing energy security with its energy transition plans, the
report stated that agriculture will rely on advanced technologies and new policies to improve infrastructure and productivity.
The need is
to address critical infrastructure issues such as irrigation, storage, and supply distribution to ensure food security and economic
stability, it added.
The S-P Global India Research Chapter's inaugural study was launched here on Thursday.(Only the headline and
picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated
feed.)First Published: Sep 19 2024 | 3:49 PMIST
