India will be the most resilient economy among the top 10 leading ones in the next three years, becoming the fourth largest economy by 2026, the PHD Chamber of Commerce and Industry (PHDCCI) said on Wednesday.
It further said India is making significant strides in its futuristic growth trajectory and the GDP in the current financial year is expected to expand at 6.8 per cent and 7.7 per cent in FY2025-26.
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Notably, in 2022, 2023 and 2024, India’s growth rate stood at 7 per cent , 8.2 per cent and 7 per cent respectively.
The report also said that the other 9 economies will grow at less than 5 per cent.
The five major economic indicators highlight the overall strength of the economy. These indicators include GDP performance, the robustness of the external sector as indicated by export trends, structural indicators of saving and investment, and the fiscal consolidation efforts represented by the debt-to-GDP ratio.
PHDCCI President Hemant Jain said, “India is entering a phase of self-sustained growth, driven by transformative reforms that have spurred a strong economic growth of the Indian economy. India will become the fourth largest economy by 2026.”
“To maintain this momentum, India must focus on high-potential sectors like agriculture and food processing, fintech, semiconductors, health and insurance, and renewable energy, fostering innovation and long-term resilience. Projections further indicate India will continue to exhibit robust economic expansion, maintaining its position as the World’s fastest growing economy among major 10 economies,” he said.
Looking ahead, India should focus on promising sectors such as agriculture and food processing, fintech, semiconductor, renewable energy, health and insurance, and a commitment to sustainable development, the PHDCCI said.
“Last but not the least, we suggest a five-pronged comprehensive strategy including increased capital expenditure, enhanced ease of doing business, reduction in the cost of doing business, focus on labor-intensive manufacturing and greater integration in Global Value Chains, to lead India’s growth trajectory to higher growth in the coming years,” it said.
