India in 2047

Policy adjustments can enable higher growth

The NITI Aayog, the Union government’s think tank, is in the process of preparing a 25-year vision for the Indian economy. As reported by this newspaper on Monday, it will target making India about a $30 trillion economy by 2047. According to the road map, India would be expected to attain a size of $6.69 trillion by 2030, $16.13 trillion by 2040, and $29.02 trillion in current dollars by 2047. According to the International Monetary Fund data, the size of the Indian economy will be about $3.73 trillion this year. Attaining the stated target thus would require an annual growth