Archive · 8 Jun 2025
India's Economic Rise Requires Balanced Growth, Says Expert
India is becoming the fourth-largest economy, but it's still much poorer than Japan when looking at how much money each person makes.
Experts say India has a lot of data thanks to its internet and phone use, which it should protect and use for new technology.
India needs to focus on making more things, research and development, and helping people learn new skills to grow.
This would boost the economy and benefit everyone, especially those in rural areas.
India is projected to become the world's fourth-largest economy.
India's GDP per capita is significantly lower than Japan's.
India possesses a unique advantage in big data generation.
The country needs to boost manufacturing and R&D to become a $7-trillion economy by 2030.
Accelerating skill development and reskilling of the workforce is crucial.
- Who
- Claude Smadja, former WEF MD, provided analysis.
- What
- India is set to become the fourth-largest economy but faces challenges in per capita GDP.
- When
- Data as of April 2025
- Where
- India
- Why
- India's economic standing should be a catalyst for accelerating reforms and ensure growth translates to higher living standards.
Recommendations
Concerns
Innovation and Manufacturing
Recommendations
India should prioritize policies to support the growth of its innovation ecosystem and R&D.
Concerns
Corporate India is more focused on buying technologies than creating them; needs more R&D.
Growth and Reform
Recommendations
India's economic standing should serve as a catalyst for accelerating reforms.
Concerns
India must ensure that growth translates into higher living standards.
- India's GDP per capita (April 2025)
- $2,878.4
- Japan's GDP per capita (April 2025)
- $33,955.7
- GDP Per Capita Ratio
- Japan's is about 11.8 times higher than India's
- Strategic Asset
- Big data
- Manufacturing share in India's GDP
- About half of China's
- Target Economy Size
- $7-trillion by 2030