India to be third largest economy by 2030: S&P

Global Ratings agency S&P said India will be the world’s third-largest economy by 2030, but a major test for the country would be to unlock the ‘immense opportunity’ and become the next big global manufacturing hub. The US-based rating agency expects India to be the fastest growing major economy in the next three years, with GDP growth reaching 7% by 2026, from 6.4% projected expansion in the current fiscal. “India is set to become the third-largest economy by 2030, and we expect it will be the fastest growing major economy in the next three years. A paramount test will be whether India can become the next big global manufacturing hub, an immense opportunity,” the ratings agency said.