Page 34 - NIS English 1-15 June, 2026

Cover Story
Economic Development
Years
of Vikas Yatra
The Amrit Yatra of Economy

With a vision of holistic development, steps were taken towards social progress and economic balance, while policy reforms
ushered in a new chapter of economic growth. Economic policies and financial subjects were connected with the common people
in such a way that every citizen began to see themselves as an active participant. People felt that there was someone who truly
cared about their concerns as well. Whether it was tax reforms or initiatives to give new direction to the economy, GST, the
Taxpayer Charter, or the faceless system, structural reforms have provided a fresh momentum to the economy. As a result, a
new story of India’s evolving and developing economy has begun.

Strengthening the
Momentum of Growth
In 2025, India surpassed Japan to emerge as
the world’s fourth-largest economy.

7.3
By 2030, the Gross Domestic reach
Product (GDP) is estimated to

trillion US
dollars.

n Amid global trade and policy uncertainties, strong
domestic demand helped India’s real GDP grow at
8.2% in the second quarter of FY 2025-26, higher
than 7.4% in the fourth quarter of FY 2024-25.
Free Trade Agreements with This is the highest among all major economies in
Developed Nations the world.
n India’s economy is continuously scaling new n Real Gross Value Added (GVA) expanded by 8.1
heights. In the realm of foreign trade, specifically percent, fuelled by a surge in the industrial and
exports, it is setting new records on a daily basis. services sectors.
n The primary catalyst behind this rapid pace of The World’s Fastest-Growing
economic growth has been the global expansion
of the Indian market over recent years, facilitated Economy
by Free Trade Agreements. n The World Bank estimates that India’s economy
will grow at around 6.6% in 2026–27, making it
the fastest-growing major economy in the world.

On April 27, 2026, India signed a Free Trade World Economic Outlook
Agreement with New Zealand, marking n According to Outlook 2026, India’s growth
India’s ninth such agreement with rate is estimated at 6.5%, compared to 1.8%
38 developed for developed countries, 3.9% for developing
countries, and 3.1% for the global economy.
countries in
recent years.
n USA: 2.3% n Germany: 0.8% n UK: 0.8%
n In China: 4.4% n Brazil: 1.9%

32 NEW INDIA SAMACHAR || June 1-15, 2026