India’s GDP Can Rise to Double by 2030, Predicts HDFC Securities

India’s GDP is expected to rise by 2030, says HDFC Securities. There will be more and more growth in the economy in the coming years. We will share details about HDFC Securities’ current GDP growth below. India’s economy as of 2024 is $3.57 trillion. However, it expects to raise to $7 trillion by 2030. Let us dive deep into India’s GDP growth and speculation below. The country is working on different projects together leading to massive growth expectations in the coming years.

HDFC Securities mentions that India will have double GDP than the current GDP. There are several reasons behind the growth of India’s GDP. The first reason is an increase in the middle class. More people are entering the middle class. While this middle class also has a drive to become richer. Apart from that, the technology is also rising. Access to technology and resources at a cheaper price is leading India towards development.

More and more people are learning the way to learn new things. It is also increasing the startups of the country. Sources like ONDC help in the expansion of the Indian small retailers to get online. India has been investing more in infrastructure like roads and railways for a few years. Apart from that, green energy is also another prominent segment with increased investments.

The Indian government is promoting the manufacturing of EVs as well. The country will be utilizing electric-based vehicles completely after 2030. Apart from that, the increasing concerns about global warming are also impacting the decisions. There is a need for the greener and cleaner options in the future. Thus, India is shifting towards renewable energy like solar energy, green hydrogen, and many more.

The estimation is that there will be 340 GW of electricity production. Apart from that, there will be an expenditure of Rs. 20 Lakhs Crore. India can increase the manufacturing unit as more and more countries are now preferring to manufacture outside China. The reason behind the change is the increasing geopolitical tensions in the country.

To conclude, HDFC Securities expects a rise in the GDP of the country to almost double. There will be utilization of more and more resources to create a better future. The estimated GDP rise for the country will be up to $7 trillion by 2030. We will share more details about the rising economy of India later. We hope you get enough details about the predictions about upcoming India’s GDP.