India to become third-largest economy by 2030-31, says S&P Global

Along with its projections, the credit rating agency suggested some measures to push the growth of the economy.

In order to maintain the growth momentum, the report added that the continued reforms are crucial to improving business transactions and logistics, boosting private sector investment, and reducing reliance on public capital.

The credit rating agency anticipated that the Indian equity market will stay dynamic and competitive due to strong growth prospects and better regulation.