A new report from DBS Bank outlines how India’s economy could surpass $10 trillion by 2040 and become the world’s third-largest.

It argues that growth now won’t stem from momentum alone but from strategic focus on four key drivers: Development, Diversification, Digitalisation and Decarbonisation.

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•  India projected to hit over $10 trillion GDP by 2040 and rank third globally.
•  “Development” means boosting investment, human capital and productivity to harness demographic dividend.
•  “Diversification” calls for expanding manufacturing, exports and global value-chain integration.
•  “Digitalisation” aims to accelerate growth via AI, data analytics, automation and India’s digital stack.
•  “Decarbonisation” recognises transition to renewables and net-zero as essential for sustained growth.
•  Without progress in these 4 Ds, growth may stall despite favourable demographics.
•  Public policy reforms, infrastructure investment and technology adoption are key enablers.
•  The report calls for inclusive growth—ensuring no region or community is left behind.
• India stands at a pivotal juncture: choices made now will shape its economic future.