Page 24 - Policy Economic Report_Mar'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

? Growth Projection: GDP is expected to rise from $3.5 trillion in 2023 to $4.7 trillion in 2026,
overtaking Japan to become fourth-largest.

? By 2028: India will surpass Germany, reaching $5.7 trillion, making it the third-largest economy
after the US and China.

Historical Position

? 1990 – 12th largest economy
? 2000 – 13th position
? 2020 – 9th position
? 2023 – 5th position

Global Share of GDP

Expected to increase from 3.5% in 2023 to 4.5% in 2029.

Projected GDP Growth by 2035

? Bear Case: India’s GDP grows from $3.65 trillion in 2025 to $6.6 trillion by 2035.
? Base Case: GDP reaches $8.8 trillion by 2035.
? Bull Case: India’s economic expansion accelerates to $10.3 trillion by 2035.

Per Capita GDP Projection (2025–2035)

? 2025 – $2,514
? 2035 (Bearish) – $4,247
? 2035 (Base) – $5,683
? 2035 (Bullish) – $6,706

Factors Driving Growth

? Demographic Advantage: A growing workforce and expanding middle class fuelling
consumption.

? Policy Reforms: Macroeconomic stability driven by proactive fiscal and monetary policies.
? Infrastructure Development: Better transport, digital connectivity, and logistics boosting

productivity.
? Manufacturing and Services: Growth in both sectors contributing to higher GDP output.
? Financial Inclusion: Expanding credit access and rising private investments.

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