On Monday, February 24, Prime Minister Narendra Modi reaffirmed that India will remain the world’s fastest-growing economy in the foreseeable future.
While addressing the Global Investors Summit in Madhya Pradesh, the prime minister stated, “In the history of India, this is the first time that the entire world is so optimistic for the country. The world over, whether it be laypersons or economic experts or various countries and institutions, everyone has high expectations from India. The comments that have come in in the past few weeks are set to encourage investors here.”
He went on to say, “Only recently, the World Bank has said India will continue to be the world’s fastest growing economy in the years to come. According to an important representative of OECD, the future of the world is in India.”
India Poised to Stay the Fastest-Growing Economy
The World Bank report in question is the ‘Global Economic Prospects’ document published last month. It mentioned, “India is projected to maintain the fastest growth rate among the world’s largest economies, at 6.7 per cent in both FY2025/26 and FY2026/27.”
The World Bank anticipates continued growth in India's services sector, along with a strengthening of manufacturing activity, "driven by government efforts to improve logistics infrastructure and create a more favorable business environment through tax reforms."
‘Future of the world is in India’
Another statement cited by PM Modi was from OECD Chief Economist Alvaro S. Pereira. Speaking at the ET NOW Global Business Summit, he praised India, stating that “The future of the world is in India. I have no doubt about that. India is a rising economic power and a major global power.”
Confidence in India remains strong despite global challenges, including uncertainty surrounding trade policies under the Trump 2.0 administration in the US, the impact of ongoing global conflicts, and inflationary pressures.
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