Indian Economy: The country’s GDP expected to be 1 million million dollars by 2032

New Delhi| The country’s economy will grow to $1 million million by 2032. For the next six years, it will increase by one trillion dollars every 18th month. India will emerge as the third largest economy by 2030, IDBI Capital said in a report released on Saturday.

According to the report, the country’s rapid growth will be mainly on the strength of the manufacturing sector. The sector can contribute 32 per cent of gross value added (GVA). Major initiatives like Make in India are expected to play an important role in enhancing the country’s manufacturing capabilities and establishing India as a global manufacturing hub. There was a slight delay in the growth of the economy due to the Corona epidemic. This extended the deadline to reach four trillion dollars by the end of 2024, but now the country is ready for rapid growth in the coming years.

According to the report, India will overtake the leading global economies in manufacturing by surpassing countries like America, China, Germany, South Korea and Japan in the Index of Industrial Production (IIP).