Now Reading: India can build $55 trillion economy by 2047: former CEA
-
01
India can build $55 trillion economy by 2047: former CEA
India can become a USD 55 trillion economy by 2047 if it sustains 8 per cent real GDP growth and strategically deploys capital, former Chief Economic Adviser Krishnamurthy V Subramanian said. Addressing…
India can become a USD 55 trillion economy by 2047 if it sustains 8 per cent real GDP growth and strategically deploys capital, former Chief Economic Adviser Krishnamurthy V Subramanian said. Addressing the 'India 2047 Leaders TALK' event, he attributed the potential to compounding growth, ethical wealth creation, and bold structural policy.
Subramanian stressed the need for high-quality FDI, expansion of electronics and industrial manufacturing via global value chains, and a hyper-skilled young workforce proficient in artificial intelligence. He said dominating sunrise sectors such as space and defence tech would build a resilient economic blueprint.
The IMF's April 2026 World Economic Outlook placed India's nominal GDP at USD 3.92 trillion for 2025-26, the sixth-largest globally. The RBI projects the current financial year's growth at 6.7 per cent, supported by robust domestic demand, manufacturing, services, and exports.
Indian Opinion Analysis
Subramanian's target implies a 14-fold expansion of nominal GDP in 22 years, an ambitious leap from the RBI's current 6.7 per cent growth forecast. The IMF ranks India sixth by nominal GDP, behind the US, China, Germany, Japan, and the UK. Achieving USD 55 trillion would require average real growth above 8 per cent annually while managing inflation, trade tensions, and global uncertainty. Key watch items are the government's next Budget's capex allocation and the RBI's monetary policy stance, which will signal whether the structural enablers Subramanian outlined are being built.
Source: english.revoi.in
This brief was synthesised by AI from the source linked above.
