New Delhi: India is set to reaffirm its position as the world’s fastest-growing major economy, with the World Bank projecting a robust 6.7% growth rate for the country over the next two fiscal years. According to the January 2025 edition of the World Bank’s Global Economic Prospects (GEP) report, India’s economy is expected to outpace the global growth rate of 2.7% for the fiscal years 2025-26 and 2026-27.
 

This remarkable performance comes at a time when many countries are grappling with economic slowdowns. India’s continued expansion highlights the country’s resilience and growing influence on the global economic stage. The GEP report attributes this sustained growth to India’s booming services sector and a revitalised manufacturing base, bolstered by various government reforms aimed at modernising infrastructure and simplifying taxation.
 

The International Monetary Fund’s (IMF) latest World Economic Outlook (WEO) report supports the World Bank’s positive outlook for India, projecting a growth rate of 6.5% for both 2025 and 2026. This consistent upward trend underscores the strength of India’s economic fundamentals, showcasing its ability to navigate global uncertainties while maintaining steady growth.
 

India’s economic resurgence is further strengthened by several transformative government initiatives. Programmes like the PM GatiShakti National Master Plan, Startup India, and the Production Linked Incentive Scheme are driving innovation, enhancing infrastructure, and fostering entrepreneurship. These reforms are pivotal in positioning India as a cornerstone of global economic stability and growth.
 

The GEP report also highlights the broader progress of emerging markets and developing economies since 2000. It notes that these economies now account for about 45% of global GDP, a significant rise from 25% at the turn of the century. India, alongside China and Brazil, has been a major contributor to this growth, collectively accounting for approximately 60% of annual global economic expansion.
 

India’s impressive economic trajectory is not merely a statistical achievement but a narrative of strategic policymaking, robust reforms, and an unwavering commitment to inclusive growth. The nation’s focus on building a resilient and self-reliant economy is evident in its comprehensive approach to governance and development.
 

As India continues to lead global growth projections, its economic policies and innovations are setting the stage for a more dynamic and competitive future. With a firm foundation and a forward-thinking vision, India is poised to play a crucial role in shaping the global economic landscape in the years to come.
 

BI Bureau