Archive · 23 Jul 2025
Morgan Stanley: India Poised to be Third-Largest Economy by 2028
India is doing great!
Experts think India's economy will be the third-biggest in the world by 2028.
They also believe India's economy will more than double by 2035.
Big states like Maharashtra and Gujarat might become as rich as some entire countries.
India is also expected to help the whole world grow a lot in the next 10 years.
This is because of investments in things like roads and airports, and because each state is trying to do its best to attract business.
Morgan Stanley projects India to become the world's third-largest economy by 2028.
India's GDP is expected to more than double to $10.6 trillion by 2035.
Three to five Indian states could reach $1 trillion GDP by 2035, according to the report.
India is predicted to contribute 20% to global growth over the next decade.
Increased infrastructure investment and 'competitive federalism' are key factors driving growth.
- Who
- Morgan Stanley, JP Morgan and NITI Aayog.
- What
- India is expected to become the world's third-largest economy and significantly grow its GDP.
- When
- By 2028, with further growth projected through 2035.
- Where
- India
- Why
- Driven by increased infrastructure investment, competitive state-level policies, and global economic trends.
- Projected GDP by 2035
- $10.6 trillion
- Expected global growth contribution
- 20% over the next decade
- Current Indian GDP (approx.)
- $4.187 trillion
- States that may reach $1 trillion GDP
- Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh, and Karnataka
- Current Rank by GDP
- Fourth Largest
- India's Weight in MSCI EM Index
- 19%