By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: President Sanjiv Puri of the CII predicts that India will become the 3rd largest economy in the next few years.
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports
UAE with 47% and Qatar with 36% Surge in Viewing Minutes as TOD Unveils its Enhanced Streaming Experience TOD 2.0
Lifestyle
L’Oréal Paris Celebrates the Groundbreaking Launch of MELASYL at the Iconic Museum of the Future
Lifestyle
TOD Partners with Skyworth’s QVWi to Launch 4K Streaming Set-Top Box in MENA
Gulf Sports
Double victory at Red Dot: Eczacıbaşı Tiles Group’s VitrA and Villeroy & Boch brands recognised for their design excellence
Lifestyle
Your Next Destination in Dubai: Mövenpick Hotel Apartments Downtown Dubai – The Perfect Choice for Your Stay
Gulf UAE
Nexus Developer Announces the Launch of ‘Estrella’ to Set New Standards in Boutique Luxury Living in Majan, Dubai
Gulf UAE
Moscow City Tourism Committee Brings ‘Moscow Tea Time’ to Dubai with 15 Cultural Venues
Gulf UAE
Wassim Elassaad Inspires Innovation at Gratuso and Waz & Co-Management Consultancy
Gulf UAE
RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain
Business Crypto
The Central Bank of the UAE Awards Tap Payments a Full Payment Services License
Gulf UAE
Holiday Island Tours and Travels LLC: Pioneering Travel with Global Expansion
Gulf UAE
Enjoy a Remarkable Experience at Mövenpick Hotel Apartment Downtown Dubai
Gulf UAE
Qatari Citizens and Residents come together for Eid Al-Fitr Prayers and Celebrations in Photos
Qatar
Al Duhail maintains OSL lead while Al Sadd remains in close pursuit
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > President Sanjiv Puri of the CII predicts that India will become the 3rd largest economy in the next few years.
Business

President Sanjiv Puri of the CII predicts that India will become the 3rd largest economy in the next few years.

News Room
Last updated: 2024/06/16 at 10:59 AM
News Room
Share
3 Min Read
SHARE

As Prime Minister Narendra Modi begins his third consecutive term, industry leaders are optimistic about India’s economic growth potential. Sanjiv Puri, the newly elected President of the Confederation of Indian Industry (CII) and Managing Director of ITC, believes that India is on track to become the third-largest economy in the world in the next few years. The CII has projected a GDP growth rate of 8 per cent for this year, driven by factors such as a favorable monsoon leading to improved agricultural output and a rebound in global trade. These positive developments could help India surpass the anticipated 7 per cent growth rate, pushing it closer to the top of the global economy rankings.

One of the key factors contributing to India’s economic growth potential is its integration into the global value chain. Free Trade Agreements (FTAs) are expected to facilitate this integration, particularly in the manufacturing sector, where significant progress has been made, especially in electronics. A recent report by Jefferies predicts that India’s GDP will reach USD 5 trillion over the next four years, making it the third-largest economy by 2027, surpassing countries like Japan and Germany. This projection is based on India’s status as the fastest-growing large economy, supported by favorable demographics, institutional strength, and improved governance.

Despite challenges such as the Covid-19 pandemic and inherited macroeconomic imbalances, India has continued to make progress towards its economic goals. The country is currently the fifth-largest economy globally, with an estimated GDP of USD 3.7 trillion for the fiscal year 2024. The Finance Ministry’s economic review highlights the resilience of the Indian economy and its ability to weather external shocks. With strong fundamentals and a growing capital market, India is well-positioned to attract both domestic and international investments in various sectors.

Looking ahead, India’s economy is poised to benefit from global trends such as supply chain diversification, digital transformation, and demographic changes. These trends present opportunities for Global Capability Centers (GCCs) in India, where approximately 40 per cent of GCCs are already based. However, there are also risks to consider, including geopolitical tensions, high interest rates, and climate emergencies. Addressing these challenges will require proactive measures, such as the establishment of a National Commission of Adaptation to deal with the increasing frequency of extreme weather events.

In conclusion, India’s economic outlook is bright, with strong growth potential and a host of opportunities on the horizon. By leveraging its strengths and addressing key challenges, India can solidify its position as one of the top economies in the world. With a focus on sustainable growth and resilience, India is well-equipped to navigate the evolving global landscape and emerge as a leading player in the international economy.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room June 16, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Direct flights between Bahrain and the US to resume before the end of the year
Next Article Players legally challenge expanded FIFA Club World Cup in 2025
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports May 8, 2025
UAE with 47% and Qatar with 36% Surge in Viewing Minutes as TOD Unveils its Enhanced Streaming Experience TOD 2.0
Lifestyle May 5, 2025
L’Oréal Paris Celebrates the Groundbreaking Launch of MELASYL at the Iconic Museum of the Future
Lifestyle May 5, 2025
TOD Partners with Skyworth’s QVWi to Launch 4K Streaming Set-Top Box in MENA
Gulf Sports May 1, 2025

You Might also Like

BusinessCrypto

RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain

April 14, 2025
Business

NTT DATA Business Solutions Expands Presence in UAE with Stronger Regional Leadership

March 28, 2025

Sustainable Moving Services: How Dubai’s Moving Companies Are Going Green

February 20, 2025
Tech

CNTXT and Oracle Strengthen AI Collaboration to Drive Innovation

February 14, 2025
Business

Smpl Fund I Invests $250,000 in Qora71, Supporting AI and Tech Entrepreneurs in MENA

February 4, 2025
BusinessCrypto

Forbes Lists Bitget Amongst The World’s Most Trustworthy Crypto Exchanges

February 1, 2025
BusinessMarkets

A Look Back at a Record-Breaking iFX EXPO Dubai 2025

February 1, 2025
BusinessCrypto

Bitget Leverages AI Algorithms for Token Listing with the Launch of Bitget Seed

January 27, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?