India's Global Rise: A New Era of Economic Promise

ITC Chairman Sanjiv Puri highlights India's transformative decade, predicting its emergence as a developed nation by 2047. Despite global challenges, India stands out with its growth, macro fundamentals, and strategic reforms. Positioned as a pivotal player in global supply chain diversification, India forecasts becoming the third-largest economy by FY28.

India is at a transformative juncture, with significant reforms over the past decade propelling the nation onto the global stage. ITC Chairman Sanjiv Puri expressed confidence in India's trajectory towards becoming a developed nation by 2047, driven by strong macroeconomic fundamentals and purposeful policy interventions.

Since 2014, India has climbed from the 10th to the fifth largest economy globally, powered by landmark reforms such as GST implementation and a historic infrastructure expansion. The tenure under Prime Minister Narendra Modi is recognized for significant reforms, including inflation control, financial inclusion, and digitization, amid initial economic challenges.

Amidst a new global order prioritizing supply chain diversification and energy transition due to climate challenges, India is positioned to play a critical role. Its talented workforce and strategic policies make it an appealing alternative to China, especially as investors seek risk reduction amidst geopolitical tensions. India's focus on energy transition and innovation paves its path towards becoming an economic superpower.

(With inputs from agencies.)