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India’s rapid rise: From 10th to 4th largest economy in under a decade
Kotak AMC’s Nilesh Shah highlights India’s jump to 4th largest economy, delivering ~13.
In remarks on 9 November 2025 at the India Insight Summit in New York, Nilesh Shah, MD of Kotak Mahindra Asset Management Company, celebrated India’s elevation from the world’s 10th to 4th‑largest economy over the past decade, noting the country now commands about 8‑10% of global growth and 18% on a purchasing‑power‑parity basis.
Despite a per‑capita GDP of only ~US$2,940, he said India’s equity markets delivered ~13.7% annualised returns between 2020‑25.
He emphasised that India urges global investors to recognise its open economy and tech‑led growth trajectory as it seeks a developed‑economy status by 2047.