India is one of the fastest growing economies in the world and is expected to be a major player in the global economy by 2030. With a GDP of USD 3.5 trillion, India is expected to be the fifth largest economy in the world by 2022. According to a recent report by Praxis Global Alliance, India’s GDP is expected to reach USD 8.4 trillion by 2030 and will be the third largest economy in the world.
The Indian economy is expected to be driven by the growth of the services sector, which is projected to contribute around 57% of the GDP by 2030. This sector is expected to be the main contributor to the country’s economic growth, driven by the growth of the IT and IT-enabled services, financial services, and other services such as healthcare and education.
The manufacturing sector is also expected to contribute significantly to the growth of the Indian economy. The sector is expected to account for around 15% of the GDP by 2030, with the growth of the automotive, pharmaceutical, and textiles industries. The government has taken various initiatives to promote the manufacturing sector, such as the Make in India campaign and the National Manufacturing Policy.
The agricultural sector is also expected to play a major role in the growth of the Indian economy. The sector is expected to contribute around 17% of the GDP by 2030, driven by the growth of the food processing industry. The government has taken various initiatives to promote the agricultural sector, such as the Pradhan Mantri Fasal Bima Yojana and the Pradhan Mantri Krishi Sinchai Yojana.
The energy sector is also expected to be a major contributor to the growth of the Indian economy. The sector is expected to account for around 8% of the GDP by 2030, driven by the growth of the renewable energy sector. The government has taken various initiatives to promote the energy sector, such as the Ujwal DISCOM Assurance Yojana and the National Solar Mission.
The Indian economy is also expected to benefit from the growth of the digital economy. The sector is expected to contribute around 8% of the GDP by 2030, driven by the growth of e-commerce, digital payments, and other digital services. The government has taken various initiatives to promote the digital economy, such as the Digital India program and the BharatNet project.
In conclusion, India is expected to be one of the major players in the global economy by 2030. With a GDP of USD 8.4 trillion, India is expected to be the third largest economy in the world. The growth of the services, manufacturing, agricultural, energy, and digital sectors is expected to be the main drivers of the Indian economy. The government has taken various initiatives to promote the growth of these sectors and ensure that India is well-positioned to become a major player in the global economy by 2030.
