India is on track to become the world's third-largest economy by 2028, after US and China, UBS' recent report stated. The country's real GDP growth is expected to stabilise at around 6.5% YoY between FY28-30. India's household consumption doubled in the last decade, reaching $2.4 trillion in 2024, with a CAGR of 7.9%, outpacing China, US, and Germany.