Volume 3 – 3 Aug 2023
Look Forward
India's Moment
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
Atul Arya, Ph.D.
Senior Vice President and Chief Energy Strategist
S&P Global Ratings
Alexandra Dimitrijevic
Global Head of Research & Development
S&P Global
Martina L. Cheung
President & CEO, S&P Global
S&P Global Market Intelligence
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, India & ASEAN Automotive Market
Puneet Gupta is an expert for the Indian automotive market at S&P Global Mobility and is responsible for trend analysis, demand modelling, product planning, shared mobility and electrification trends.
S&P Global Commodity Insights
Gauri Jauhar
Executive Director, Global Energy Transitions & Clean Tech Consulting
Executive Director, in Energy Transition and Clean Tech Global Consulting team, S&P Global Commodity Insights
S&P Global
Dharmakirti Joshi
Chief Economist, CRISIL
S&P Global Commodity Insights
Rahul Kapoor
Vice President, Global Head of Shipping Analytics and Research
Rahul Kapoor is the global head of shipping analytics & research for S&P Global Commodity Insights and is based in Singapore.
S&P Global Commodity Insights
Sana Khan
Agribusiness Consultant
Sana Khan is a Consultant within the North American Agribusiness Consulting Team at S&P Global Commodity Insights.
S&P Global
Shankar Krishnamurthy
Head of EssentialTech COE and Innovation, S&P Global
S&P Global Market Intelligence
Deepa Kumar
Head of Asia-Pacific Country Risk and Co-Lead, India Research Chapter
S&P Global Sustainable1
Jennifer Laidlaw
Senior Writer
S&P Global Market Intelligence
Angus Lam
Senior Economist, Banking Risk Service
Angus Lam is an economist working at the Banking Risk Service team of the Economics & Country Risk directorate at S&P Global Market Intelligence.
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
Sophie Malin is a senior economist with the pricing and purchasing service, at S&P Global Market Intelligence.
S&P Global Commodity Insights
Sambit Mohanty
Asia Energy Editor
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
Aries Poon oversees a team of economists and country-risk experts for S&P Global Market Intelligence.
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
Executive Director and Head of Global Agribusiness Consulting
Juan is Executive Director and Head of Global Agribusiness Consulting. He’s been at the forefront of the agriculture industry for over 25 years - and has witnessed firsthand the major role it’s playing in decarbonization.
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
Hafiz Noor Shams is an Associate Director within the Comparative Industry Service at S&P Global Market Intelligence.
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
Ashima Tyagi is an economics associate director at Pricing & Purchasing Service, Global Intelligence & Analytics
S&P Global Sustainable1
Cornis van der Lugt
Senior Manager, ESG Research