India Sets Record as Fastest-Growing Major Economy

Mumbai, Dec 29 (Alaryana.com): The World Bank's latest Global Economic Prospects (GEP) report has projected India's growth rate at a remarkable 6.7% for the financial years 2026 and 2027, outpacing the global average growth projection of 2.7% for the same period.

According to the report, India's robust economic growth is attributed to its thriving services sector and revitalized manufacturing base, driven by transformative government initiatives aimed at modernizing infrastructure and streamlining tax reforms. The nation's commitment to innovation and ambition has positioned it as a cornerstone of global economic stability, surpassing China's slowing growth rate of 4% next year.

The International Monetary Fund (IMF) also corroborated these projections, forecasting a similarly strong trajectory for India with a growth rate of 6.5% for both 2025 and 2026.

India's economy has been propelled by visionary government schemes that have transformed key sectors such as infrastructure projects like the PM GatiShakti National Master Plan and initiatives like Startup India. These reforms have fostered innovation, enhanced manufacturing capabilities, and promoted financial inclusion, reflecting India's commitment to building a resilient and globally competitive economy.

The World Bank's insight on India's economic growth is significant, recognizing that emerging markets and developing economies (EMDEs) now account for 45% of global GDP, up from 25% at the start of the century. India, alongside China and Brazil, has collectively driven approximately 60% of annual global growth since 2000, showcasing its transformative role in shaping the global economy.

"India's impressive economic performance is a testament to its forward-thinking policies, robust infrastructure, and digital transformation," said a World Bank official. "With consistent growth projected at 6.7% over the next two fiscal years, India continues to outpace its global peers."

As the fastest-growing large economy, with a projected growth rate of 6.7%, India is setting an example for resilience and strategic progress. With its sights set on inclusive growth and innovation-driven development, the nation remains committed to redefining its global standing.