By bno – Mumbai Office India is on course to become the third-largest global economy by fiscal 2030–31, according to a report by S&P Global, published on September 19. The forecast is based on an expected annual growth rate of 6.7%, which would also see India transition into the upper-middle-income category. S&P Global Market Intelligence projects that India’s nominal GDP will nearly double to over $7 trillion by fiscal 2030–31, up from $3.6 trillion in fiscal 2023–24. This would increase India’s share of global GDP from 3.6% to 4.5% and raise its per capita income to the upper-middle-income b…