India, which has demonstrated high rates of economic growth, could become the world's second largest economy by 2031, and not until 2048, as previously thought. As Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra told reporters, the country has an opportunity to become the largest economy by 2060.
„Given India's inherent strengths, it can be assumed that India, entering the next decade, will become the world's second largest economy not by 2048, but by 2031. and the world's largest economy by 2060”, Patras newspaper quoted as saying.Business Standard.
Speaking at the National Academy of Management on behalf of. Lala Bahadur Shastri in Mussoorie, Patra also noted that the government's emphasis on macroeconomic and financial stability is important for the Indian rupee to reach the international level. He added that the RBI projects inflation to average 4.5% in 2024-25 and 4.1% in 2025-26.
The Deputy Governor of the Reserve Bank of India said that the republic should step up efforts aimed at increasing exports of goods and services from the current $768 billion (2.4% of the global total) to $1 trillion dollars by 2030