INSUBCONTINENT EXCLUSIVE:
Report also said that with 8.2 per cent growth rate in FY2024, continued reforms are crucial to improving business transactions and
logistics, boosting private sector investment | (Photo: Shutterstock)2 min read Last Updated : Sep 19 2024 | 3:49 PM IST
India is on
track to becoming the third-largest economy by 2030-31, driven by a projected annual growth rate of 6.7 per cent this fiscal, S&P Global
said in a report on Thursday.
The report also said that with 8.2 per cent growth rate in FY2024, continued reforms are crucial to
improving business transactions and logistics, boosting private sector investment, and reducing reliance on public capital.
It said equity
markets are expected to stay dynamic and competitive due to strong growth prospects and better regulation, and foreign inflows into Indian
benefits, India must develop infrastructure and geopolitical strategies, particularly regarding its extensive coastline, said the first
edition of 'India Forward: Emerging Perspectives' report.
Nearly 90 per cent of India's trade is seaborne, necessitating robust port
infrastructure to manage increasing exports and bulk commodity imports, it added.
Noting that India faces rising domestic energy demands
and can look to sustainable technologies, including renewables and low-emission fuels, balancing energy security with its energy transition
plans, the report stated that agriculture will rely on advanced technologies and new policies to improve infrastructure and
productivity.
The need is to address critical infrastructure issues such as irrigation, storage, and supply distribution to ensure food
security and economic stability, it added.
The S&P Global India Research Chapter's inaugural study was launched here on Thursday.(Only the
headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a
syndicated feed.)First Published: Sep 19 2024 | 3:49 PMIST
