Far and Wide | November 2023 (I)
Our headline this week features a piece on India, the world's fifth-largest economy, which is likely to surpass Japan to become the world's third-largest economy with a GDP of $ 7.3 trillion by 2030, as per the S&P Global Market Intelligence. After two years of rapid economic growth in 2021 and 2022, India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024. Making India the fastest-growing major economy in this fiscal year. India is to see significant foreign direct investments, including those from tech giants like Google and Facebook. Overall, India is expected to continue to be one of the world's fastest-growing economies over the next decade .