CRISIL, in association with The Economic Times, has prepared the India Progress Report- a compendium that captures our country’s dynamic journey towards becoming a $7 trillion economy by fiscal 2031, highlighting the evolving opportunities, challenges and the path ahead. Following a robust post-pandemic recovery, India's real gross domestic product (GDP) growth is anticipated to stabilise at 6.8% this fiscal, down from 8.2% in the previous year, largely due to the tempering effect of higher interest rates on urban demand and the impact of fiscal consolidation.

India is poised to become an upper-middle-income country by 2031, with the economy expected to remain buoyant over the next seven years. Capital and productivity are expected to be the primary drivers of growth, while the contribution of labour is anticipated to remain modest.

In this report, we have also closely examined seven sectors—roads and highways, steel, textiles, food processing, automobiles, electronics and renewable energy—that are pivotal to India’s manufacturing growth. Each sector is at a different stage of maturity, reflecting unique opportunities and challenges. These sectors are shaped by a combination of trade dynamics, target government policies and strategic interventions by companies.

We hope this report offers valuable insights to help you navigate the evolving opportunities arising from India’s transformation journey.