India’s economy has crossed $4 trillion and could more than double to $8 trillion within a decade, according to a new report from global investment firm KKR.

The report credits sustained reforms, a massive infrastructure build-out and the formalisation of the economy for the growth trajectory. It sketches a path of up to 11 percent nominal growth a year.

A key driver, the report says, is the rise of Global Capability Centres. These offshore units of multinational firms are expanding fast in Indian cities and are becoming a major engine of services exports and white-collar jobs.

The projections assume continued policy stability and no major global shocks. They also rest on India keeping its edge in digital infrastructure and a young workforce.

Economists note that doubling in a decade is ambitious but not unprecedented for India, which has grown rapidly from a low base before.

The report lands as India positions itself as an alternative manufacturing and services hub for global firms diversifying supply chains.