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

22 Oct 2024 CW Team

Abhishek Tomar, Head-S&P Global India Leadership Council, stated, “India’s medium-term outlook is vibrant, with opportunities across trade, agriculture, AI, and energy. A young, dynamic workforce positions the country to shape the global economy.”

India's 8.2% growth in FY 2024 reaffirms its status as the fastest-growing large economy. Sustained reforms will be essential to enhance logistics, business efficiency, and private investment while reducing reliance on public funds. Foreign investments in government bonds have surged, driven by India's inclusion in key emerging market indexes, with further growth anticipated.

With 90% of India’s trade conducted via sea, infrastructure development, especially along the coastline, will be crucial to handle increasing exports and bulk imports. Robust geopolitical strategies will be necessary to maximize trade benefits.

India's growing energy demand will require a balance between energy security and the adoption of sustainable technologies, including renewables and low-emission fuels. Agriculture will benefit from new technologies and policies aimed at improving irrigation, storage, and supply chains to enhance food security and stability.

The report emphasises AI’s potential to accelerate economic growth, suggesting public-private partnerships to replicate India’s digital infrastructure success.

India Forward was prepared by S&P Global in collaboration with CRISIL, bringing together local expertise and global insights. The study reflects India’s promising future, with continued reforms and strategic investments positioning it as a key player on the global stage.

(spglobal)

India is on course to become the world's third-largest economy by fiscal 2030-31, driven by a projected annual growth rate of 6.7%, according to S&P Global’s inaugural study, India Forward: Emerging Perspectives. The report highlights India’s impressive GDP growth of 8.2% in FY 2024, surpassing the government’s earlier estimate of 7.3%. Abhishek Tomar, Head-S&P Global India Leadership Council, stated, “India’s medium-term outlook is vibrant, with opportunities across trade, agriculture, AI, and energy. A young, dynamic workforce positions the country to shape the global economy.” India's 8.2% growth in FY 2024 reaffirms its status as the fastest-growing large economy. Sustained reforms will be essential to enhance logistics, business efficiency, and private investment while reducing reliance on public funds. Foreign investments in government bonds have surged, driven by India's inclusion in key emerging market indexes, with further growth anticipated. With 90% of India’s trade conducted via sea, infrastructure development, especially along the coastline, will be crucial to handle increasing exports and bulk imports. Robust geopolitical strategies will be necessary to maximize trade benefits. India's growing energy demand will require a balance between energy security and the adoption of sustainable technologies, including renewables and low-emission fuels. Agriculture will benefit from new technologies and policies aimed at improving irrigation, storage, and supply chains to enhance food security and stability. The report emphasises AI’s potential to accelerate economic growth, suggesting public-private partnerships to replicate India’s digital infrastructure success. India Forward was prepared by S&P Global in collaboration with CRISIL, bringing together local expertise and global insights. The study reflects India’s promising future, with continued reforms and strategic investments positioning it as a key player on the global stage. (spglobal)

Building Material

18 Sep 2025

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Technology

18 Sep 2025

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

Infrastructure Urban

18 Sep 2025

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..