While the Indian economy may be slowing, it is growing above consensus estimates. Under PM Modi’s leadership, India is set to be the second-fastest growing economy in the G20 in FY 2022/23. As global manufacturers are looking beyond China, India is stepping up to seize the moment and is getting closer to finally meeting its economic potential.
Even before COVID struck, India's financial sector was going through tough times. The current overview of the Indian economy is rather grim, as bad debt and rising interest rates are expected to hinder India's economic recovery. There's an urgent need for course correction, or the worsening global crises will soon bring more hardships for India's citizens.
There's a 50% chance that India's GDP will be at least $12.8 trillion at the end of 2025, according to the Metaculus prediction community.