GDP of India to surpass $4 trn in 2024-25, $5 trn by 2026-27: PHDCCI report

India's economy is likely to surpass USD 4 trillion in 2024-25 and further escalate to USD 5 trillion by 2026-27, according to a PHDCCI report released on Wednesday. The industry chamber also expects the RBI to cut the repo rate by 100 basis points in a calibrated manner by the end of 2024. "The Indian economy is showing evidence of strong growth...It is imperative that there is a need to remain watchful and adaptable in the coming days to mitigate the dangers presented by the global economy through carefully calibrated policy actions," the report stated. Observing that despite global challenges, India's economy remains resilient, the report said the country is poised to attain the status of a developed economy by 2047 under the initiative of 'Viksit Bharat'. "... India is making significant strides for its futuristic growth trajectory. (Indian economy is) anticipated to surpass USD 4 trillion in the financial year 2024-25 and further escalate to USD 5 trillion by the financial yea