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Our world is in the midst of an unprecedented period of transition and uncertainty, but one fact that unites all observers is that India faces a defining opportunity to capitalize on this moment.

Economically and politically, there are few global issues that can be solved without the cooperation of India, a fact that is highlighted by the country’s agenda for its presidency of the G20 in 2023. As in our previous Look Forward reports, our analysts have leveraged their deep sector and geographic knowledge as well as our data and insights to take a deep dive into a specific subject. This time, we look at the opportunities, risks and potential for India to strengthen its claim to be a true global superpower in the next 10 years.

We hope this research will help our customers around the world understand one of the most dynamic and fast-changing countries on Earth. From energy transition to the global economy, agriculture to transportation, supply chains to technological innovation, India is at the center of it all. However, the road ahead is far from straight, and navigating it will require decision-making that considers a vast array of potential scenarios, both at home and globally.

This report has been organized by the S&P Global Research Council, which is focused on the key global themes of energy security, climate and sustainability, technology and digital disruptions, supply chains, capital markets and geopolitical shocks. The foundation of the report is the work we do every day to deliver essential intelligence to our customers and the market — on India and on other topics that matter.

CRISIL is driven by its mission of making markets function better as India’s foremost provider of ratings, data, research, analytics and solutions. This report also shows the value of being part of S&P Global as it marries local expertise with global perspectives and leverages capabilities across the organization.

S&P Global

Amish Mehta

Managing Director and CEO, CRISIL

Sponsors & Contributors

S&P Global Commodity Insights

Co-chair, S&P Global Research Council and Co-lead, Look Forward Journal India

Atul Arya, Ph.D.

Senior Vice President and Chief Energy Strategist

S&P Global Ratings

Co-chair, S&P Global Research Council

Alexandra Dimitrijevic

Global Head of Research & Development

S&P Global Ratings

Sponsor, S&P Global Research Council

Martina L. Cheung

President, S&P Global Ratings

S&P Global Market Intelligence

Co-lead, Look Forward Journal India

Lindsay Newman

Head of Geopolitical Thought Leadership, Economics & Country Risk

S&P Global Sustainable1

Hana Beckwith

ESG Specialist

S&P Global Market Intelligence

Rajiv Biswas

Executive Director and Asia-Pacific Chief Economist

S&P Global Sustainable1

Stuart Bowles

ESG Analyist

S&P Global Ratings

Paul Gruenwald, Ph.D.

Global Chief Economist

S&P Global Mobility

Puneet Gupta

Director, Indian Automotive Market

S&P Global Commodity Insights

Gauri Jauhar

Executive Director, Energy Transition & Cleantech Consulting

S&P Global Ratings

Dharmakirti Joshi

Chief Economist – CRISIL Limited

S&P Global Commodity Insights

Rahul Kapoor

Vice President & Global Head of Shipping Analytics & Research

S&P Global Commodity Insights

Sana Khan

Agribusiness Consultant

S&P Global

Shankar Krishnamurthy

Head of EssentialTech COE and Innovation, S&P Global

S&P Global Market Intelligence

Strategic Advisor, Look Forward Journal India

Deepa Kumar

Head of Asia-Pacific Country Risk

S&P Global Sustainable1

Jennifer Laidlaw

Senior Writer

S&P Global Market Intelligence

Angus Lam

Senior Economist, Country Risk

S&P Global Market Intelligence

Brian Lawson

Senior Consultant

S&P Global Sustainable1

Rick Lord

Head of Innovation Methodology

S&P Global Market Intelligence

Sophie Malin

Senior Economist, Pricing and Purchasing

S&P Global Commodity Insights

Sambit Mohanty

Senior Editor, Oil News and Analysis

S&P Global Commodity Insights

Swati Mathur

Associate Director, Agribusiness Consulting

S&P Global Market Intelligence

Sampath Sharma Nariyanuri, CFA

Research Analyst

S&P Global Ratings

Jose Perez-Gorozpe

Head of Credit Research Emerging Markets

S&P Global Market Intelligence

Prem Premakumar

Director, Industry Insights

S&P Global Market Intelligence

Aries Poon

Director, Head of Asia-Pacific Insights and Analysis

S&P Global Market Intelligence

Chris Rogers

Head of Supply Chain Research

S&P Global Market Intelligence

Annie Sabater

Associate Industry Expert, Central Data

S&P Global Commodity Insights

Juan Sacoto

Senior Vice President and Head of Agribusiness Consulting, North America

S&P Global Market Intelligence

Tasnim Safian

Economist, Industry Insights

S&P Global Market Intelligence

Tom Scott

Vice President, Agribusiness Consulting

S&P Global Market Intelligence

Hafiz Noor Shams

Associate Director, Economics

S&P Global Mobility

Gaurav Sharma

Senior Analyst, Automotive Sales Forecast

S&P Global Sustainable1

Kuntal Singh

ESG Innovation and Analytics Manager

S&P Global Market Intelligence

Ashima Tyagi

Economics Associate Director, Pricing & Purchasing

S&P Global Sustainable1

Cornis van der Lugt

Senior Manager, ESG Research

Further Reading