India’s GDP growth outperformed expectations, rising to 8.2% for FY24. For the January to April quarter, growth accelerated to 7.8% compared with 6.2% in the same period last year. Economists say the surprise in the print could signal stronger momentum across sectors heading into the next fiscal stretch.
India’s Ministry of Electronics and IT projects the digital economy will contribute nearly 20% of GDP by 2030, with growth powered by wider adoption of artificial intelligence across sectors. The forecast suggests AI will move beyond tech hubs into everyday services and industries, accelerating digitization and boosting economic output as adoption expands.
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Finance Minister Nirmala Sitharaman said India’s growth is being sustained by domestic consumption and that predictable policy support is crucial to keep GDP momentum steady. She also flagged work underway to review the “open architecture” framework for banks selling third-party products, stressing that even as digitalization accelerates, banks must prioritize strong customer connect.
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