Posted 3/11/2024, 10:32:54 AM
India Aims for $15 Trillion Economy by 2043, But Faces Challenges to Reach Developed Status by 2047
- India's economy to become upper-middle income by 2036 and reach $9,218 per capita income by 2047
- India could achieve $15 trillion GDP mark by 2043 if economy grows at 8%
- Attaining $30 trillion GDP by 2047 to become developed economy will be challenging, requiring 9.7% GDP growth
- Indian economy likely grew 7.6% in 2023-24 but expected to slow down going forward
- Energy transition, low carbon manufacturing/services, expanding middle class key for India to become developed economy
