India on track to become 3rd-largest economy by 2028: Das
India is on track to become the world's third-largest economy by 2028, according to former RBI Governor Shaktikanta Das.
Speaking at a Gokhale Institute event on Saturday, he pointed to reforms, fiscal discipline, and strong fundamentals as key reasons for this rapid growth.
GDP growth and sectoral performance
India posted a solid 7.8% GDP growth in Q1 FY26 (April-June 2025), outpacing last year and making it the fastest-growing major economy right now.
Manufacturing got a boost from schemes like Atmanirbhar Bharat and PLI, especially in tech and renewables.
Services are still huge—almost one in three Indian workers are in this sector, which drives exports.
Infrastructure, monetary policy, and business reforms
Major infrastructure pushes—think PM GatiShakti for highways and Sagarmala for ports—plus monetary policy tweaks since 2016 have helped stabilize things.
Business reforms like the Insolvency Code have made companies more resilient.
Future projections and Viksit Bharat vision
Analysts expect India's GDP to hit $10.6 trillion by 2035, with states like Maharashtra, Tamil Nadu, Gujarat, UP, and Karnataka each nearing $1 trillion economies within a decade.
By 2028, India could contribute about 20% of global economic growth—a big leap toward its Viksit Bharat (Developed India) vision for 2047.