Facts for Prelims (FFP)
Source: Business Line
Context: S&P Global predicts that India will become the third-largest economy globally by 2030, with a forecasted nominal GDP rise from $3.5 trillion in 2022 to $7.3 trillion in 2030.
- Currently, India holds the fifth position, with the United States, China, Germany, and Japan ahead.
- S&P Global emphasizes the importance of India becoming a global manufacturing hub and highlights the need for a robust logistics framework, upskilling of workers, and increased female workforce participation.
- The agency also expects growth in India’s high-growth startup ecosystem, especially in financial and consumer technology, and foresees expansion in the automotive sector.
