A recent report by SBI Research reveals that the State Bank of India (SBI) made a significant impact on the global economy, contributing $44 billion in the financial year FY25. This contribution highlights SBI’s pivotal role in both India’s economic growth and the overall world economy.
India’s Growing Influence in Global Economy
In FY25, the global economy expanded by $4,118 billion, with India accounting for $297 billion, equivalent to 6.7% of the total growth. This underscores India’s increasing prominence as a key player in the global economic landscape.
SBI’s Key Contribution
- SBI alone added $44 billion to the world economy in FY25, representing 1.1% of the global GDP growth.
- The bank’s contribution to India’s GDP increase was around 16%, underscoring its vital role in the country’s economic development.
Growth in Financial Services Sector
- SBI’s Gross Value Added (GVA) in the financial services sector surged by 8.7% in FY25, reaching ₹1,38,533 crore compared to ₹1,32,157 crore in FY24.
- This denotes a significant 5% growth in value addition by SBI within just one year.
India’s Economic Ascendancy
The report emphasizes India’s escalating economic prowess, with the country emerging as a major contributor to global GDP growth. SBI’s robust performance, as India’s largest public bank, underscores the efficacy of Indian institutions in bolstering this economic resurgence.
Key Takeaways for Competitive Exams:
- SBI’s contribution of $44 billion in FY25 showcases its significant impact on the world economy.
- India’s share of $297 billion in global GDP growth in FY25 demonstrates its increasing influence on the global economic stage.
- SBI’s 16% contribution to India’s GDP growth highlights its crucial role in the country’s economic development.
- The 8.7% increase in GVA in the financial services sector by SBI underscores its substantial growth within the sector.
