India set to beat its 2003-07 high-growth record, economist says
What Happened
Kyunghoon Kim, Head of the India and South Asia Team at the Korea Institute for International Economic Policy, says India could surpass its previous record of five consecutive years of above-7% growth between 2003 and 2007 if current forecasts hold. He noted that India has now matched that five-year streak and said another year above 7% would create a new record. The IMF currently forecasts 7% growth for India in FY27 and FY28, while the RBI and World Bank forecast 7.1% for FY27.
Key Takeaways
Kim argues that today’s growth is more significant in absolute terms because India’s economy has expanded from just over $1 trillion in 2007 to nearly $4 trillion today. He calculated average annual growth of 7.83% during 2021-25, just below the 7.89% average recorded during the 2003-07 boom.