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India’s economic growth soared to 8.4% in the December quarter, marking a significant acceleration from the 7.6% growth recorded in the previous quarter, as revealed by government data on Thursday. This robust performance exceeded economists’ expectations, who had anticipated a 6.6% growth during the final three months of the previous year, according to a Reuters poll.

The remarkable expansion in Asia’s third-largest economy is a positive indicator of recovery and resilience, reflecting the nation’s ability to navigate through challenging economic landscapes. The data highlights the ongoing momentum in various sectors, contributing to the overall economic growth trajectory.

In addition to the GDP growth, India’s infrastructure output exhibited a 3.6% year-on-year increase in January. While slightly lower than the revised 4.9% recorded in December, this sustained growth in infrastructure output further emphasizes the ongoing economic activities and investments in key sectors.

The robust economic performance is expected to have positive implications for employment, investment, and consumer confidence. As India continues to navigate the post-pandemic recovery, the data showcases the resilience of the economy and its ability to adapt to evolving challenges.

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New Delhi: In a promising trajectory, India is set to become the world’s third-largest economy by 2027, surpassing economic powerhouses like Japan and Germany, according to a recent report by Jefferies, a leading global investment banking company. The report highlights India’s anticipated GDP reaching $5 trillion in the next four years, signaling significant economic growth on the horizon.

Jefferies emphasizes that India’s economic landscape is evolving into a formidable $10 trillion market by 2030, making it an irresistible prospect for global investors. Over the past decade, India has made a substantial leap from being the ninth-largest economy to securing the fifth position, boasting a nominal GDP of $3.4 trillion. On a purchasing power parity (PPP) basis, India already holds the prestigious title of the world’s third-largest economy, with a GDP of $13.2 trillion.

Despite facing challenges posed by major reforms such as the Goods and Services Tax (GST), bankruptcy law, Real Estate Regulation Act (RERA), and demonetization, India’s GDP has displayed resilience, consistently expanding. Jefferies acknowledges the short-term impacts of these reforms but underlines their positive long-term implications for the economy.

The report underscores India’s projected growth rate of 6% over the next five years, positioning the country as an outlier in a global landscape where many large economies are grappling with declining growth rates. Jefferies predicts that India will rapidly ascend to the third spot in the world’s GDP rankings by the end of this decade.

Jefferies’ optimism extends to the Indian equity markets, anticipating them to deliver robust 8%-10% dollar returns over the next five to seven years. The structural shift of savings towards equities and the potential listing of large unicorns in India are identified as key drivers that could propel the country’s market cap beyond $10 trillion by 2030.

While India currently holds the fifth-largest market cap globally, its eighth-ranking in the Bloomberg World Index, with a weight of 2.0%, presents significant opportunities for foreign investors. Jefferies believes that increasing investment in the world’s fastest-growing country is not only feasible but advantageous. A rise in the country’s weight in global funds makes Indian stocks an attractive proposition for a diverse set of equity investors.

As India continues its economic ascent, Jefferies emphasizes the potential for foreign investors to actively engage in and benefit from the unfolding chapters of India’s growth story. The country’s journey toward global economic prominence is not just a statistic; it’s a compelling narrative of resilience, reform, and remarkable progress.

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Dehradun: Prime Minister Narendra Modi is set to inaugurate the two-day Global Investors’ Summit at the Forest Research Institute in Dehradun on December 8, announced Chief Minister Pushkar Singh Dhami. The event aims to attract investments to Uttarakhand, drawing inspiration from the successful Vibrant Gujarat model.

Energy Conclave and Investment Potential:

As part of the summit, the Destination Uttarakhand Energy Conclave, showcased the state’s investment potential, particularly in the power sector. Dhami shared that MoUs worth over Rs 40,000 crore were signed during the Energy Conclave, highlighting the significant investment opportunities in Uttarakhand.

Prime Minister’s Guidance:

Dhami expressed gratitude for the constant guidance from Prime Minister Modi in matters concerning the state’s development. The concept of Destination Uttarakhand is modeled after Vibrant Gujarat, a successful initiative in Gujarat to attract investments and promote economic growth.

Security Measures and Preparations:

With the Prime Minister’s visit scheduled, Additional Chief Secretary Radha Raturi and acting DGP Abhinav Kumar visited the summit venue to assess preparations. Emphasizing the importance of security, Raturi instructed officials to ensure all arrangements are made well in advance. Adequate parking facilities and a smooth route diversion plan were emphasized to minimize inconvenience to the public.

Global Outreach and Investment Promotion:

Chief Minister Dhami undertook roadshows in prominent Indian cities and in London and Birmingham, UK, to attract investments to the state. The city is adorned to welcome investors and delegates for the two-day event, set to conclude on December 9.


The Global Investors’ Summit in Dehradun is poised to be a significant platform for promoting investments in Uttarakhand. With the Prime Minister’s involvement and the state’s proactive approach, the event is anticipated to contribute to the economic growth and development of Uttarakhand

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