India stands at a pivotal economic moment, according to the report “India 2025-40 Outlook: Pivotal Juncture” by DBS Bank senior economist Radhika Rao. It forecasts the country reaching a US $10 trillion economy by 2040, potentially becoming the world’s third-largest. But the path is not automatic—success depends on strategic progress in four major areas, described as the “4 Ds”:

• Development: Infrastructure enhancement, human capital investment and institutional reform.
• Diversification: Broadening the economic base beyond traditional sectors into manufacturing, services and new value chains.
• Digitalisation: Expanding digital platforms, fintech, AI and the digital economy to improve productivity and access.
• Decarbonisation: Transitioning to low-carbon growth—renewables, green hydrogen, sustainable manufacturing—to align with global climate goals and enhance resilience.

The report argues that without simultaneous progress across all four, India may miss its target or face growth that lacks sustainability. It also warns that structural reform, global integration and capacity-building are essential enablers. In short: it’s not just about growth speed, but about growth quality—building an India economy that is large, diversified, digital and green.