According to Chief Economic Advisor (CEA) V Anantha Nageswaran, the Indian economy is projected to expand at a 6.5% annual clip over the next ten years as a result of the financial and investment cycle’s reversal. Due to the various uncertainties the globe is experiencing, the growth rates of global exports may be a little tepid.
The third-largest economy in Asia saw year-over-year growth of 4.4% in October through December, down from 11.2% in the same period last year and 6.3% in the quarter before. The RBI predicted India’s economic growth to fall to 6.4% in FY24 from 7.0% in the current fiscal, while the finance ministry anticipated the economy to grow by 6.5% in the 2023–24 fiscal year beginning in April 2023.