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Can India's GDP grow 7% annually over 25 yrs? Data suggests it's tough

India has seen GDP growth of 7% or more for five straight years only once in the past 30 years

Rupee (Photo: Bloomberg)

(Photo: Bloomberg)

Indivjal Dhasmana New Delhi
Bibek Debroy, chairman of the Economic Advisory Council to the Prime Minister, said on Tuesday that India will become an upper-middle-income country by 2047 even if the real gross domestic product (GDP) grows at a “relatively conservative” rate of 7-7.5 per cent in the next 25 years.

If that happens, India’s economic size will be just shy of $20 trillion and its annual per capita income will be about $10,000, when the country celebrates its centenary of independence.

Though 7-7.5 per cent growth does not seem too high, maintaining this for 25 years is a tough task, as is shown

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First Published: Aug 31 2022 | 1:04 PM IST

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