In conclusion, I would say that the impetus for transformation has come calling as India – already the fifth largest economy of the world – prepares to be among the fastest growing economies and an engine of global growth (2nd largest contribution to global growth in 2022). By 2025-26, India will match Germany and become the fourth largest economy of the world.
There is one thing that I would like to stress from the outset which is all too easily forgotten when assessing the recent crises: neither in the case of the Spanish bank nor the Italian banks have we seen lasting spillover effects or negative repercussions in the markets.