India Poised to Become Third-Largest Global Economy: RBI Governor

Inclusive growth, Jan Dhan Yojana, and women-led enterprises hailed as drivers

Mumbai, Sept 4:

RBI Governor Sanjay Malhotra has said that India is firmly on the path to becoming the world’s third-largest economy, citing a combination of robust GDP growth and inclusive financial policies.

Addressing an economic forum, Malhotra praised the role of the Jan Dhan Yojana, which has brought over 50 crore people into the formal banking system. He highlighted how women-led enterprises and self-help groups are increasingly driving economic activity in rural and semi-urban areas.

“India’s growth is not only about numbers. It is about participation—of women, of youth, of entrepreneurs. That is what will sustain us through global turbulence,” Malhotra said.

India’s GDP is projected to grow at 7–7.5% this year, maintaining its position as the fastest-growing major economy. With structural reforms like GST 2.0 and rising digital adoption, analysts expect India to achieve its $7.3 trillion GDP target by 2030.