Shaktikanta Das, principal secretary to the prime minister, told the Kautilya Economic Conclave on Sunday that the Indian economy is on the cusp of an 8% growth rate. He cited the June‑quarter expansion of 7.8% after a 7.9% gain in the last fiscal year. Das said the momentum stems from a suite of reforms that have become the economy’s backbone.
GST, last year’s tax overhaul, has streamlined compliance and broadened the tax base, while banking reforms have tightened credit discipline and opened the market to foreign players. Flexible inflation targeting has kept price pressures in check, and the push for digital payments has accelerated financial inclusion.
External trade has also steadied the economy. India has diversified exports, signed several free trade agreements, maintained a surplus in services trade, and seen steady inward remittances, Das added.
Looking ahead, Das emphasised that the country would accelerate activity in the next five years, particularly in artificial intelligence, which he said could boost productivity and improve public services. He called for deepening the corporate bond market, pension and insurance funds, municipal finance, and innovative infrastructure financing.
The PMO will outline concrete AI‑driven productivity initiatives in the coming weeks, signalling a renewed focus on high‑tech growth. Investors and policymakers alike will watch the next quarter for signs of sustained momentum.