India’s Economic Rise to Shape Global South’s Growth in the Coming Decades
India, under the leadership of bold reforms and strategic investments, is set to play a crucial role in the economic growth of the Global South. With a young and dynamic population, India is on track to become a leading global economy.
IndiaEconomic GrowthGlobal SouthNiti AayogGreen EnergyReal EstateJan 26, 2025
This was highlighted by Amitabh Kant, G20 Sherpa and former NITI Aayog CEO, during an event organized by the Association of Mutual Funds in India (AMFI).
According to Kant, the International Monetary Fund (IMF) predicts that 75-80 per cent of economic growth this year will come from the Global South.
India, in particular, has made significant strides and now stands as the fifth-largest economy in the world, driven by a series of economic reforms and substantial investments in the infrastructure sector.
Frequently Asked Questions
What is the role of the Global South in the world's economic growth?
The Global South is expected to contribute 75-80 per cent of the world's economic growth this year, according to the IMF, driven by young and dynamic populations in countries like India.
What reforms have been implemented in India to boost its economy?
India has implemented several bold structural reforms, including the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code, the Real Estate Regulation and Development Act (RERA), and various initiatives to improve the Ease of Doing Business.
How has India improved financial inclusion?
India has seen a significant improvement in financial inclusion, with the percentage of women having access to bank accounts increasing from 18 per cent in 2016 to 91 per cent, reflecting rapid progress.
What is India's target for green energy and sustainability?
India is focusing on the production and distribution of Green Hydrogen to meet its decarbonization targets and combat climate change, showcasing its commitment to environmental sustainability.
What is the projected growth of India's economy in the coming decades?
India is on track to become a USD 30 trillion economy by 2047, driven by continued investment in infrastructure, digital innovation, and environmental sustainability.
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