According to Sitharaman, Indias GDP will reach $30 trillion by 2047, and PHD calls it the most resilient.

According to Finance Minister Nirmala Sitharaman, India's GDP would reach $30 trillion by 2047. She added that 919 billion US dollars in foreign direct investment had been received by India in 23 years, up until 2023, and that the nation's economy will reach five trillion dollars by 2028. Of these, nine years' worth of investments accounted for sixty-five percent. Sitharaman also acknowledged Gujarat's role as the nation's growth engine, contributing more than 8% of the GDP. Sitharaman was speaking at the Gandhinagar Vibrant Gujarat Global Summit. The PM Gatishakti initiative is becoming recognized as a global standard for seamless and integrated multi-modal connectivity, according to a statement made by Commerce and Industry Minister Piyush Goyal on the same day.At the Vibrant Gujarat Global Summit, India and the UAE exchanged four memorandums of understanding, according to Foreign Secretary Vinay Mohan Kwatra. These memorandums of understanding concern investment collaboration in food parks, renewable energy, innovative healthcare, and logistics cooperation. Meanwhile, among the top 10 most powerful economies in 2024 and 2025, the Indian economy has been deemed by an industry authority to be the most robust.

In a report following its study, the PHD Chamber of Commerce and Industry commended the developments in the Indian economy.Key macroeconomic data, such as GDP growth, export growth, gross national savings, total investments, and the debt-to-GDP ratio, served as the foundation for the industry body's study. According to a press release from Sanjeev Agrawal, President of the PHD Chamber of Commerce and Industry, the economy is predicted to surpass USD 4 trillion in 2024 and then move to the next orbit in 2025 due to consistent GDP growth rates exceeding 7% over the previous two years and a projected continuation of this trend in the current year as well. According to Agrawal, India is making great progress toward achieving its ambitious growth trajectory.

GDP growth is expected to range between 7.4 and 7.5% for the current fiscal year, which ends in March 2024.According to the National Statistics Office's January 5 report, the Indian economy is predicted to expand by 7.3% in the current fiscal year 2023–24, continuing to be the fastest-growing major economy. India's GDP expanded by 8.7% in 2021–22 and 7.2% in 2022–23. The Reserve Bank of India (RBI) increased its growth projection last month by 50 basis points to 7% from an earlier estimate of 6.5%, and the statistical office released its first advance estimates of GDP. Despite the challenges facing the world economy, India's economy is still strong, according to the industry association PHDCCI. "World value networks are being disrupted, inflationary pressures are being generated, and geopolitical conflicts are changing the world. International institutions have acknowledged India's growing geopolitical significance, according to Sanjeev Agrawal. Citing analysts, PHDCCI stated that markets are anticipated to stayAccording to the PHDCCI research, the average inflation trend in 2024 is anticipated to be approximately 4.5%. The Reserve Bank of India is predicted to decrease the repo rate by 100 basis points to reach the level of repo rate at 5.5% by the end 2024.

At its December meeting, the RBI Monetary Policy Committee unanimously agreed to retain the current status quo at the 6.5% policy repo rate, marking the fifth consecutive meeting in which this decision was made.