India will increase its GDP by 30% globally between 2035 and 2040, according to Amitabh Kant

Amitabh Kant voiced optimism about India's economic future, projecting that by 2027, the nation will overtake Japan and Germany.

Kant emphasized how India's economic reforms have come a long way, taking the country from being one of the "fragile five" to being ranked among the top five in the world. 

Speaking at the Confederation of Indian Industry (CII) Business Summit 2024 in New Delhi, Amitabh Kant, a G20 India Sherpa and former CEO of NITI Aayog, expressed confidence in India's economic trajectory and forecast that the nation will exceed Germany and Japan by 2027. In addition, he cited expert forecasts indicating that India will account for thirty percent of the rise in world GDP between 2035 and 2040.

"We will surpass Japan and Germany by 2027. According to analysts, India would account for thirty percent of the rise in the world GDP between 2035 and 1940. Kant agreed.

Kant emphasized how India's economic reforms have come a long way, taking the country from being one of the "fragile five" to being ranked among the top five in the world. "Because India has carried an immense quantity of structural reforms, it has moved from fragile 5 to top 5 as well as has grown at about 8.4% in the last 3 quarters," he said.

Kant also advised Indian businesses to focus on quality and have a global view in order to break into foreign markets and accelerate development.

"Indian businesses need to have a global mindset in order to enter international markets and experience faster development. Kant stressed the need of quality while addressing at the session titled "Future of Globalization: Challenges for Indian Industry."

Kant emphasized how important state-level advancement is to India's growth. He emphasized the significance of cooperative efforts between the federal government and the states, promoting the establishment of 12–13 "champion states" with growth rates between 10 and 11 percent each year. "The government needs to work with the states as it's necessary to look at building 12-13 champion states growing at 10-11% per per year," he said. "India grows if states grow," he said.

In order to simplify procedures at the state level, he advocated for a tighter collaboration between the Confederation of Indian Industry (CII) and state governments over the course of the next five years.

Industry executives, decision-makers, and specialists convened at the CII Business Summit 2024 to deliberate on tactics for maintaining India's economic growth in a global economy that is becoming more linked.