PM, Gautam Adani, Mukesh Ambani Reshaping India Into Economic Superpower: Report

Worth $3.7 trillion in 2023, India is the world's fifth largest economy, jumping four spots in the rankings during PM Modi's decade in office and leapfrogging the United Kingdom.

India is poised to become a 21st-century economic powerhouse, offering an alternative to China for investors looking for growth and for reducing supply chain risks with Prime Minister Narendra Modi and industrialists Gautam Adani and Mukesh Ambani playing a fundamental role in shaping the economic superpower the country will become in the coming decades, according to a CNN report.

The report says to spur growth, the Modi government has begun a massive infrastructure transformation by spending billions on building roads, ports, airports and railways.

It is also heavily promoting digital connectivity, which can improve both commerce and daily life.

"Both Mr Adani and Mr Ambani have become key allies as the country embarks on this revolution," it said.

Worth $3.7 trillion in 2023, India is the world's fifth largest economy, jumping four spots in the rankings during PM Modi's decade in office and leapfrogging the United Kingdom.

"It is comfortably placed to expand at an annual rate of at least 6 per cent in the coming few years, but analysts say the country should be targeting growth of eight per cent or more if it wants to become an economic superpower. Sustained expansion will push India higher up the ranks of the world's biggest economies, with some observers forecasting the South Asian nation to become number three behind only the US and China by 2027," the CNN analysis said.