Union Minister Piyush Goyal on Sunday said that India's strong economic performance has once again disproved the "negative thinking" of Leader of Opposition in Lok Sabha Rahul Gandhi, asserting that the country is on course to emerge as the world's third-largest economy by 2027.
He backed his argument by stating that the measures taken by the government, such as direct tax cuts, forthcoming GST tax structure reforms, and the employment-linked incentives, among others, are supportive of the overall economy.
Department of Economic Affairs (DEA) Secretary Anuradha Thakur on Saturday expressed confidence that India will meet its fiscal deficit target of 4.4 per cent for 2025-26, despite the first quarter showing a wider deficit than last year.
Robust Q1 GDP growth underlines the basic resilience and the strengthening of the momentum in the economy, which is anchored in strong macro-economic fundamentals, a senior government official said on Saturday.
Chief Economic Adviser V Anantha Nageswaran on Friday said India's domestic consumption growth can offset the US tariff-related losses, which is why the GDP estimates for the year 2025-26 haven't been revised downwards.
India's real GDP has been estimated to grow by 7.8 per cent in the April-June quarter of the financial year 2025-26 over the growth rate of 6.5 per cent in the same quarter of the previous fiscal, official data showed Friday.
"A lot of people are talking about tariffs these days... I want to tell you in brief that India is such a country that is going to be the least affected by tariffs. What is the reason for that? Today, there is a 57-58% contribution of local consumption to our GDP... Whatever impact there
India is well-positioned to maintain its lead among fast-growing economies in FY2025-26, Deloitte asserted in a report, citing the country's resilient capital markets, strong domestic consumption, digitally skilled workforce, and increasing trade partnerships.
India is set to play a bigger role in the global economy over the coming decades, noted a recent report by Morgan Stanley. The report says with the expectation of India's credit to GDP rising and manufacturing gaining a bigger share in GDP, country's role in global economy will significantly
India's not giving market access to the United States (U.S.) in the agriculture and Dairy products sectors is likely to be the reason for not reaching on a trade agreement, noted S &P Market Intelligence report released on Friday.
Global Capability Centres (GCCs) are set to contribute 2 per cent of India's GDP and generate 2.8 million jobs by 2030, emerging as a key growth and employment generator, according to a report by ACCA (the Association of Chartered Certified Accountants).
India Ratings and Research (Ind-Ra) has slashed India's GDP projections for 2025-26 to 6.3 per cent, a 30 basis points lower than its earlier forecast of 6.6 per cent in December 2024.