India set to become world's third-largest economy by 2030: DFS Secretary
Published on 18/09/2025 01:29 PM
India's economy is on course to become the world's third largest by 2030, with gross domestic product (GDP) expected to grow between 6.5 per cent and 9 per cent, according to the Department of Financial Services (DFS). The statement was made by DFS Secretary at the National Bank for Financing Infrastructure and Development (NaBFID) conclave, as reported by the sources.
The DFS Secretary said that India today figures among the world's top six producing countries. He noted that the country's share of exports has doubled over the past 15 years underscoring the rising competitiveness of domestic industries in global markets.
Highlighting the resilience of the financial system, the DFS Secretary said India's banking sector and non-banking financial companies (NBFCs) are in their "best-ever shape." He pointed to partial credit bond facilities as a key measure to boost infrastructure financing.
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He also referred to the government's Rs 1 lakh crore urban planning fund, which has been set up to strengthen urban development and long-term infrastructure projects.
Securities and Exchange Board of India (SEBI) Chairperson said at the same conclave that infrastructure indices are generating annual returns of 12–14 per cent. He described Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) as the most promising avenues for investment in infrastructure and real estate.
He further noted SEBI's active role in expanding the reach of municipal bonds to deepen the domestic debt market.
NaBFID's Deputy Managing Director and Chief Risk Officer, B S Venkatesha, said the Reserve Bank of India's revised project finance guidelines, effective October 1, 2025, will bring "discipline and transparency" in lending.
The new framework standardises risk assessment across banks and financial institutions, requiring higher provisions during the construction phase of commercial real estate and infrastructure projects, with graded reductions once operations begin.
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