Economy

'Dead economy?' The numbers say otherwise. India is the world's fourth-largest economy and is on track to become the third-largest by 2028. We are clocking towards a growth rate of 6.8 per cent, with the IMF revising next year's forecast upward to 6.4 per cent. India is the fastest-growing major economy, far outpacing the US and other developed nations. Foreign capital continues to surge in, with India rising to 15th in global FDI rankings and drawing investment from over 110 countries. Inflation remains contained at around 3 per cent

- GOURAV VALLABH The writer is Professor of Finance and part-time member of the Prime Minister’s Economic Advisory Council

Recently, some voices have claimed that India is a "dead economy," a statement both puzzling and detached from the facts. To label a nation sprinting ahead with such vigour as fallen is to misunderstand the race it is running. Let us look closer at the reality behind the rhetoric.

"Dead economy?" The numbers say otherwise. India is the world's fourth-largest economy and is on track to become the third-largest by 2028. We are clocking towards a growth rate of 6.8 per cent, with the IMF revising next year's forecast upward to 6.4 per cent.

India is the fastest-growing major economy, far outpacing the US and other developed nations. Foreign capital continues to surge in, with India rising to 15th in global FDI rankings and drawing investment from over 110 countries. Inflation remains contained at around 3 per cent.

The real pulse of India's transformation, as Prime Minister Narendra Modi has often asserted, is the collective ambition and work ethic of its people. Indians often understate their achievements, yet they are building the dreams of 1.4 billion people—more than four times the US population. India maintains the world's second-largest road network, expanding highways by 60 per cent in the last ten years.

The railway system is now the fourth-largest globally and has doubled its capacity. Our logistics outperform even advanced economies—container dwell time is just three days compared to seven in the US, and port turnaround time is a minuscule 0.9 days, beating Singapore and Australia.