India to be third largest economy by 2027: IMF’s Gita Gopinath

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India to be third largest economy by 2027: IMF’s Gita Gopinath

The growth to be over six per cent and the two driving factors will be public investment and consumption spending," Gita Gopinath said.

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Indeed, an exciting prospect for India’s economic future! The country is on track to become the third-largest economy by 2027, observed Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF). She highlighted that India’s growth has been better than expected, driven by factors like strong private consumption and favourable monsoon conditions.

In an exclusive conversation with India Today’s Rahul Kanwal, Gita Gopinath also asserted the country would contribute 15 per cent of global growth this year.

“India will be the world’s third-largest economy by 2027-28. It will contribute 15 per cent of global growth this year and will be a key driver of economic growth in the years to come,” she said.

“For this fiscal year, we expect the growth to be over six per cent and the two driving factors will be public investment and consumption spending,” Gita Gopinath said, adding, “We still need structural reforms which is going to be very important.”

Also speaking of how crypto assets will be regulated, Gopinath said, “Bringing together not just the regulatory aspect, but also the macro-financial consequences, was one of the biggest achievements of the G20 Summit Presidency.”

“It has laid down a good roadmap, which would throw light on the different issues the crypto assets have had and its data,” she said.

Gopinath also spoke on digital public infrastructure and said, “India is really on the forefront in this area, not just in terms of innovation, but also on the fiscal front. Other countries in the world are paying attention to what India is doing in this space.”

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