India is set to become the third-largest economy by 2030-31: S&P Global

01 Nov 2024 CW Team

S&P Global published its first edition of ‘India Forward: Emerging Perspectives’, emphasising India’s projection as a leading global economy. The report highlights that India is on track to become the third-largest economy by fiscal 2030-31, driven by a robust projected annual growth rate of 6.7 percent.

This follows an impressive GDP growth of 8.2 percent in the fiscal year 2024, significantly exceeding the government’s earlier estimate of 7.3 percent. India’s medium-term prospects are healthy and filled with opportunities in multiple sectors including trade and AI, likely structural reforms and growing energy demands, said Abhishek Tomar, Head, S&P Global India Leadership Council and Chief Data Officer for S&P Global Market Intelligence. India is poised for growth and with a young and dynamic workforce is well-positioned to shape the global economic landscape.

India is the fastest-growing large economy with an 8.2 percent growth rate in FY 2024, surpassing earlier estimates. Continued reforms are crucial to improving business transactions and logistics, boosting private sector investment and reducing reliance on public capital.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..