India to surpass Japan as world's third-largest economy by 2030
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India is on track to surpass Japan as the world's third-largest economy by 2030 with a GDP of $7.3 trillion, reports S&P Global Market Intelligence. The nation has witnessed remarkable economic growth in 2021 and 2022, with its GDP projected to increase by 6.2-6.3% in the fiscal year ending March 2024. S&P Global said the "near-term economic outlook is for continued rapid expansion during the remainder of 2023 and for 2024, underpinned by strong growth in domestic demand."
