1 week ago
India’s Path to a $55 Trillion Economy by 2047
India wants to make its economy worth $55 trillion by 2047.
Krishnamurthy V Subramanian said this could happen if the country grows quickly and steadily.
He said India may need about 8% real economic growth each year.
Young people learning artificial intelligence could help create new businesses and jobs.
India would also need more high-value factories and stronger links with global supply chains.
Space technology, defence manufacturing, and other advanced industries could support exports.
High-quality foreign investment could provide additional capital for this growth.
The IMF estimated India’s economy at $3.92 trillion for 2025-26.
The RBI’s current growth forecast is 6.7%, so reaching the long-term goal would require sustained faster growth.
Former Chief Economic Adviser Krishnamurthy V Subramanian said India could reach a $55 trillion economy by 2047.
He said sustained 8% real GDP growth and strategic capital deployment would be essential.
Subramanian emphasized AI skills among India’s young population and expansion of high-value manufacturing.
He identified space technology, defence manufacturing, and dual-use technologies as potential growth and export drivers.
The IMF estimated India’s nominal GDP at $3.92 trillion for 2025-26, while the RBI projected 6.7% growth for the current financial year.
- Who
- Former Chief Economic Adviser Krishnamurthy V Subramanian presented the strategy for India’s economic expansion.
- What
- A proposal for India to build a $55 trillion economy by 2047 through sustained growth, AI skills, manufacturing, investment, and advanced industries.
- Where
- Subramanian addressed the India 2047 Leaders TALK in New Delhi.
- When
- The target year is 2047; the cited IMF estimate covers 2025-26 and the RBI forecast covers the current financial year.
- Why
- The strategy aims to promote economic growth, technological self-reliance, national defence capabilities, and high-value exports.
Key facts
- Long-term target
- A $55 trillion Indian economy by 2047
- Required growth
- Sustained 8% real GDP growth
- Skills priority
- Artificial intelligence and other emerging capabilities among India’s young population
- Industrial priorities
- High-value manufacturing integrated with global value chains
- Frontier industries
- Defence manufacturing, dual-use technology transfer, and commercial space technology
- IMF estimate
- India’s nominal GDP was estimated at $3.92 trillion for 2025-26
- Current growth forecast
- The Reserve Bank of India projected 6.7% growth for the current financial year
Quotes
Krishnamurthy V Subramanian
Former Chief Economic Adviser of India and former IMF Executive Director for India and South Asia
“By expanding high-value manufacturing, harnessing our vast young demographic in AI and emerging capabilities, and establishing global dominance in sunrise sectors like space and defence tech, India is not merely expanding its economic footprint -- it is delivering a resilient economic blueprint for the modern world.”
rediff.com
deccanchronicle.com
“Building a USD 55 trillion Viksit Bharat by 2047 is an achievable reality driven by the power of compounding growth, ethical wealth creation, and bold structural policy.”
rediff.com
Sources
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