India likely to be world's 3rd-largest economy by 2027: Sitharaman

Finance Minister Nirmala Sitharaman on Monday said India is poised to continue its growth trajectory and is likely to become the world's third-largest economy by 2027. India currently is the fifth largest economy in the world with a GDP of around USD 3.9 trillion. Addressing the Roundtable on 'Investment Opportunities in India' at the New York Stock Exchange, the oldest and the largest stock exchange in the world, the Finance minister said India is poised to continue its sustained growth trajectory and enhance its contribution to global growth significantly.

India has emerged as one of the fastest-growing economies in the world and has witnessed a profound positive transformation in the last ten years. By all economic assessments India is poised to continue its sustained growth trajectory and enhance its contribution to global growth… pic.twitter.com/kgIng02qWD

— Nirmala Sitharaman Office (@nsitharamanoffc) October 21, 2024

"India finds itself today at a special moment in its history where it is poised for a brighter, and more resilient tomorrow. A more central and fundamental role beckons India in the new economic order," she said. Ms Sitharaman said, an exciting opportunity awaits US investors in the form of India’s maiden International Financial Centre - GIFT-IFSC at GIFTCity in Gujarat. With a unified regulator. As of August 2024, more than 650 + entities across Banks, Capital Markets, Insurance, FinTech, Aircraft Leasing, Ship Leasing, Bullion Exchange, etc have been registered with the IFSCA, she said.