India will overtake Japan to become world’s third largest economy by FY29, know how

Digital Economy on KV Kamath: Big news is coming out regarding the Indian economy. It is being predicted that India will be the third largest economy in the world in the future. In this regard, the head of National Infrastructure Finance and Development Bank i.e. NaBFID, KV Kamat has given a big statement. Know what he has said.

Digital sector will contribute 25 percent

Nabfid chief K.V. Kamat said that by the financial year 2028-29, the contribution of the digital sector in the country’s increased GDP is expected to be up to 25 percent. By that time the country’s economy is expected to reach $7 trillion. At present, the contribution of Digital Economy is less than 4 percent, whereas in China it has been up to 40 percent.

India will beat Japan

Kamat said that by the financial year 2028-29, leaving behind Japan, India will become the third largest economy in the world. Right now the Indian economy is 3,300 billion dollars. It is expected to reach $7,000 billion by that time. Talking to Bhasha, Kamat said that digital economy – digital infrastructure, e-commerce and other digital payment and service segments can contribute significantly to the country’s growth. By the financial year 2028-29, the size of the Indian economy will be $ 7,000 billion. In this, the share of digital economy will be 25 percent, which is currently less than four percent.

digital sector is helping

Kamat, former chairman of ICICI Bank, says that 40 percent of China’s economy today comes from the digital sector, and I see no reason why we cannot achieve this. Kamat said there is no reason to stop the country from ramping up its infrastructure investment, adding that the economy has a lot of scope for expressways, highways, airports, seaports and high-speed trains.

He said that there could be more projects of urban rejuvenation. There is no reason to limit it to big cities only. Kamat said that the Indian economy will double to $7 trillion in the next five years.

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