India's GDP growth may average 6.3% between 2021 and 2030: S&P report

This will help India pip Japan and Germany to become the third-largest economy, S&P says

The S&P Global Market Intelligence on Tuesday projected India’s real gross domestic product (GDP) growth to average 6.3 per cent annually between financial years 2021 and 2030, enabling it to overtake Japan and Germany to become the world’s third-largest economy in nominal US dollar terms.

Real income per capita is projected to achieve significant average growth of 5.3 per cent, with Indian households becoming the greatest spenders among G20 economies, the firm said in a report, assuming continued structural reforms, including trade and financial liberalisation, infrastructure and human capital investment, and labour market reform.

“Progress is likely to be piecemeal: Although the