India’s economic rise over the past two decades has been steady, but achieving the country’s long-term development ambitions will require far greater investment. Speaking at the India Today Conclave 2026, Anurag Mittal, Head, Fixed Income, said India must deepen its bond market to finance the goals linked to the Viksit Bharat vision.
Mittal noted that India’s share in global GDP has tripled in the last 20 years, rising from about 1.1% to around 3.5%. Exports have also strengthened, particularly in services, where India’s share in global exports has doubled. He added that inflation management has improved significantly since the Reserve Bank of India adopted inflation targeting in 2016, helping bring borrowing costs down to around 6.5%.
However, Mittal said India will require massive investment to sustain growth. Urban development alone may need about $900 billion over the next decade, while achieving net-zero goals could require more than $1 trillion. Overall, India may need nearly $20 trillion in investment over the next 25 years, making a deeper bond market and wider investor participation essential for funding future growth.