Indian Economy Expected To Touch $5 Trillion By Fiscal 2026-27
According to a recently released PHD Chambers of Commerce and Industry (PHDCCI) report, the Indian economy is expected to surpass $4 trillion in fiscal 2024-25 and touch $5 trillion by fiscal 2026-27,
PHDCCI noted that India is poised to attain the status of a developed economy by 2047 under the initiative of ‘Viksit Bharat’.
PHDCCI advised the government to focus more on the informal sector since the reforms sometimes do not seep into the ground level.
The report also observed that the banking system also needs to become more robust to help SME’s enhance their production capacities to meet demand.
“There is a need to remain watchful and adaptable in the coming days to mitigate the dangers presented by the global economy through carefully calibrated policy actions,” the report observed.
The report has identified the Indian textile and garment industry among promising growth sectors.
