NEW DELHI, INDIA—Despite persistent global headwinds, the narrative surrounding India’s economy remains overwhelmingly positive, with international agencies and UN bodies praising the country for demonstrating that rapid economic growth and social inclusion can advance together.
Recent projections and reports highlight India’s sustained momentum and its unique approach to leveraging technology for development.
Economic Resilience Drives Global Confidence
India continues to cement its position as the world’s fastest-growing major economy, attracting strong confidence from global financial institutions:
- Positive GDP Projections: Leading financial institutions, including the State Bank of India (SBI) and global ratings agency Moody’s, project India’s GDP growth to hold strong at around 6.5% to 7.5% through 2027.
- Infrastructure Investment: This growth is substantially supported by robust infrastructure spending and sustained private consumption. Moody’s noted that India is expected to maintain its lead over other major economies, including China and Brazil, for the foreseeable future.
- GST Boost: Analysts point to the recent GST rationalization and the successful festive season (September-October) as major consumption boosters, with mid-tier cities showing the fastest growth in consumer spending.
The Model for Sustainable Development
The United Nations Development Programme (UNDP) has specifically lauded India’s unique development pathway, built on digital public infrastructure:
- Digital Public Infrastructure (DPI): The UNDP’s Under-Secretary-General, Mr. Haoliang Xu, highlighted India’s use of digital public infrastructure—such as UPI, CoWIN, and the Aadhar-based JAM trinity—as a blueprint for transparent and effective delivery of social security to the poor. These platforms reduce costs and ensure funds reach the intended beneficiaries.
- Poverty Reduction: Prime Minister Narendra Modi, speaking at the Ramnath Goenka Lecture, cited the effectiveness of these sustained initiatives, stating that 25 crore people have successfully risen out of poverty in the last 11 years, demonstrating that Democracy can effectively deliver on social goals.
- Climate & Green Jobs: India is also recognized for its focus on climate adaptation, renewable energy, and green jobs, showing that economic opportunity can be aligned with environmental stewardship and the Sustainable Development Goals (SDGs).
This positive assessment from both financial and development institutions paints a picture of an economy that is not only growing fast but is using technology and targeted policies to make its growth more inclusive and sustainable.
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