{
  "id": 3960563,
  "title": "India could hit $5.1 trillion by FY29, says OmniScience Capital",
  "url": "https://urgent.news/2026/08/28/india-could-hit-5-1-trillion-by-fy29-says-omniscience-capital",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T11:56:13.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/economy/india-could-hit-51-trillion-by-fy29-says-omniscience-capital/article71400140.ece"
  },
  "original_language": "en",
  "account": "India's economy may surpass $5.1 trillion by FY29, according to an analysis by OmniScience Capital. The firm projects a base case scenario of 8% nominal GDP growth annually, with 6.5% real growth, 4% inflation, and 2.5% annual rupee depreciation. If growth accelerates to 7% and the rupee depreciates by 2% yearly, the economy could reach $5.9 trillion by FY29 and $11 trillion by FY35. The current GDP of $4.1 trillion in FY26 represents a nominal CAGR of just 5.4% since FY19, falling short of the 10.2% annual growth required to meet the original $5 trillion target set by the government in FY26. The shortfall is attributed to a 4.15% GDP contraction in FY21 during the pandemic, twin balance-sheet stress for banks and corporates, and a 12.3% rupee depreciation against the US dollar in FY26 alone. OmniScience Capital sees more favorable conditions emerging, with real GDP growth averaging 7.4% between FY22 and FY26, outpacing the 6.2% average of the previous two decades. Bank and corporate balance sheets are at their healthiest in 20 years, potentially marking a turning point for sustained growth.",
  "summary": "The investment firm projects nominal GDP growth of 8% annually in US dollar terms, assuming 6.5% real growth, 4% inflation and 2.5% rupee depreciation per year",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}