Mumbai, Sep 18 || India's dominance in the global economy is rapidly increasing, and the country's share in global GDP growth will increase to 9 per cent by 2035, up from 6.5 per cent in 2024, M Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, said on Thursday.
Addressing the gathering at the annual infrastructure conclave 2025 organised by the National Bank for Financial Infrastructure and Development (NABFID) here, M Nagaraju said that even in an environment of global uncertainty, the country's economy is progressing rapidly and remains the fastest-growing economy in the world.
He further said that the country's economy has been growing at an average annual growth rate of 8 per cent for the past four years, and the most recent quarterly GDP growth was 7.8 per cent, the highest in the last five quarters.
According to the Secretary, India's external sector is also performing well, and the current account deficit in the last quarter was only 0.5 per cent of the GDP.