India to become USD 5 trillion economy, 3-largest by 2027

26 Sep 2023 CW Team

Reserve Bank Deputy Governor Michael D Patra has projected that India is poised to become a $5 trillion economy and secure the third spot in the world's largest economies by market exchange rates by the year 2027. Patra attributed this anticipated economic growth to India's demographic advantage and the rapid development of its financial sector.

Speaking at the 16th SEACEN-BIS High-Level Seminar hosted by the National Bank of Cambodia, Patra emphasized the prevailing belief that the global economic center of gravity is shifting eastward towards Asia over the next two decades or more.

Patra cited the International Monetary Fund's (IMF) Regional Economic Outlook for Asia and the Pacific, which forecasts that Asia will contribute approximately two-thirds of global economic growth in 2023. He also highlighted that India is set to account for one-sixth of the world's output growth in 2023 and 2024.

In terms of market exchange rates, Patra noted that India currently stands as the fifth-largest economy globally and the third-largest when considering purchasing power parity. Patra stated, "Our assessment is that by 2027, India will be a USD 5 trillion economy and the third-largest in the world even by market exchange rates. A key driver in this transformation is likely to be the window of a demographic dividend that opened up in 2018 and will probably last till the 2040s, going by fertility and mortality rates."

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..