2min chapter

HSBC Global Viewpoint: Banking and Markets cover image

The Macro Viewpoint -- India’s digital drive, mixed global signals and a 12th UK rate rise

HSBC Global Viewpoint: Banking and Markets

CHAPTER

The Growth Drivers of India's High Tech Sectors

A small part of India which we call New India and which comprises of high tech sectors is growing rapidly. The other part of the new India is the startup ecosystem. A lot of small startups have plugged into that and are providing real economy solutions to a lot of problems. On the back of New India we think it could be 6.5% over the next 10 years. That would make India the third largest economy in the world right after the US and China.

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