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India is expected to become a USD 30-trillion economy by 2050 due to strong consumption and exports, according to HDFC Bank chairman Atanu Chakraborty. International financial institutions have projected India's growth to be around 6.3% this year, with a nominal GDP of 10-12%.
International financial institutions have projected India's growth to be around 6.3 per cent this year and inflation at about 6 per cent, so nominal GDP would be around 10-12 per cent, he said.
Growth in India is projected to remain strong, at 6.3 per cent in both 2023 and 2024, with an upward revision of 0.2 percentage point for 2023, reflecting stronger-than-expected consumption during April-June: World Economic Outlook
This is lower than the RBI's latest estimate of 6.5 per cent
IMF in July had estimated India's GDP forecast at 6.1 per cent for 2023-24. However, this is lower than the RBI's latest estimate of 6.5 per cent for the current financial year.