It recommends ensuring macro-economic stability and resilience and continued thrust on reforms, which will be especially relevant in the backdrop of on-going geo-political conflicts, inflationary pressures and slowing global growth. It also cites key enablers that will underpin the country’s development over the next 25 years that will unleash business opportunities across sectors and will significantly enhance India’s global competitiveness.
The report underscores the growth trajectory of the Indian economy that is projected to be the highest for any large economy over the coming decades. The report, Realizing the potential of a US$26 trillion economy, was launched by Sri Ashwini Vaishnaw, Railway and IT Minister, Government of India on the sidelines of the World Economic Forum at Davos, Switzerland. The per capita income is expected to increase to US$15,000, putting the country among the ranks of developed economies.
#Iconomy per world professional#
Macroeconomic stability, ease of doing business, power sector reforms and greater energy independence are key to economic resilienceġ8 January 2023: EY, the leading professional services organization, today announced its growth projection for India that estimates Indian economy will reach GDP size of US$26 trillion (in market exchange terms) by 2047, the 100 th year of the country’s independence.Amid the ongoing megatrends, India would have a significant advantage owing to its strong domestic demand, digitalization, largest talent pool globally, financial inclusion, global competitiveness, and sustainability transition.The report identifies eight key areas that will accelerate India’s growth over the next decade.EY forecasts India to be the fastest growing large economy witnessing a six-fold increase in its per capita GDP that would cross US$15,000 by 2047.
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