2023 has already been an eventful and often tumultuous year – and it’s not over yet.Rising inflation and uncertainty, fueled by the war in Ukraine, alongside increasing food and shipping costs, are affecting the economic outlook.India’s economy is forecast to grow by 7% this year, making it the 5th largest in the world.

The Fine Prints!

India is on track to become the world’s third largest economy by 2027, surpassing Japan and Germany, and have the third largest stock market by 2030, thanks to global trends and key investments the country has made in technology and energy.India is gaining power in the world order, and in our opinion these idiosyncratic changes imply a once-in-a-generation shift and an opportunity for investors and companies.India’s GDP could more than double from $3.5 trillion today to surpass $7.5 trillion by 2031. Its share of global exports could also double over that period.India will be one of only three economies in the world that can generate more than $400 billion annual economic output growth from 2023 onward, and this will rise to more than $500 billion after 2028.India is also poised to become the factory to the world, as corporate tax cuts, investment incentives and infrastructure spending help drive capital investments in manufacturing.