10 Yrs, $3.9 Trillion Economy & More: Ashwini Vaishnaw On India's Unstoppable Growth

10 Yrs, $3.9 Trillion Economy & More: Ashwini Vaishnaw On India's Unstoppable Growth

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Business Today
  • Updated Apr 1, 2025 7:28 PM IST

India's economic transformation over the last decade has been remarkable. From being the 10th largest economy and part of the "Fragile Five" in 2014, the country has now risen to the 5th position, aiming to become the 3rd largest in the coming years. With a GDP nearing $4 trillion, India remains the fastest-growing major economy, projected to grow at 6-8% over the next five years. Inflation is under control, and the central government maintains a strong balance sheet with a debt-to-GDP ratio of just 57%, significantly lower than many global economies. The government's well-planned strategy is built on four key pillars: investment in physical, digital, and social infrastructure, inclusive growth programs, a focus on manufacturing and innovation, and simplification of legal and compliance structures. Over the past decade, India has witnessed massive infrastructure development, including 54,000 km of highways, 84 new airports, and the electrification of 44,000 km of railway tracks. Additionally, India's digital revolution has led to 118 crore telecom subscribers, 70 crore smartphone users, and one of the world's most advanced digital public infrastructures. This rapid progress is now being studied globally, with several countries looking to replicate India's model of economic and technological advancement.

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