Speaking at a session on the second day of the 'CII Annual Business Summit 2024' in the national capital, Kant said structural reforms in the country have taken the country from the "fragile 5" to the "top 5".
The growth rate has been around 8.4 per cent in the last three quarters as a result of massive reforms across all sectors.
“By 2027 we will overtake Germany and Japan. Analysts are right to say that 30 per cent of global GDP growth between 2035-2040 will come from India, Kant said during a session on 'The Future of Globalization: Challenges for Indian Industry'.
Kant urged Indian business to work with the states to accelerate their development to create 12-13 "champion states" growing at 10-11 percent per year.
A recent S&Global report said India will become the world's third-largest economy by 2030, adding that the country will be the fastest-growing major economy in the next three years.
The United Nations has also raised India's growth forecast for 2024 by 70 basis points to 6.9 percent, from 6.2 percent estimated in January.
The growth rate has been around 8.4 per cent in the last three quarters as a result of massive reforms across all sectors.
“By 2027 we will overtake Germany and Japan. Analysts are right to say that 30 per cent of global GDP growth between 2035-2040 will come from India, Kant said during a session on 'The Future of Globalization: Challenges for Indian Industry'.
Kant urged Indian business to work with the states to accelerate their development to create 12-13 "champion states" growing at 10-11 percent per year.
A recent S&Global report said India will become the world's third-largest economy by 2030, adding that the country will be the fastest-growing major economy in the next three years.
The United Nations has also raised India's growth forecast for 2024 by 70 basis points to 6.9 percent, from 6.2 percent estimated in January.
