India’s Economic Ascendance May Happen This Time
The India Mobile Congress 2022 exhibition in New Delhi on Oct. 1. India has launched a major push to raise its global manufacturing and technology profile, boosting the chances of faster sustained economic growth.
Photographer: Prakash Singh/BloombergChina’s economy zoomed past India back in the early 1990s, when (as we outlined last week) it was following the initial chapters of the high-growth playbook. Now, just as China is running into major headwinds, India has the chance to emerge as a new dynamo.
The South Asian giant is on the cusp of sustained 7% GDP growth over the medium term, ANZ Bank economists Sanjay Mathur and Richard Yetsenga concluded this month. Bloomberg Economics is even more optimistic, seeing potential growth ascending to 7.6% by 2026 and peaking around 8.5% in the early 2030s.