India’s GDP will be close to USD 20 trillion by 2047 and per capita income may reach USD 10,000 (at current value of USD), Bibek Debroy, chairman, Economic Advisory Council to the Prime Minister, said on Wednesday.
Virtually addressing the inaugural session at the 57th Annual Conference of the Indian Econometric Society (TIES) held at the University of Hyderabad (UoH) here, he said though the COVID-19 pandemic may have passed, still there is a lot of uncertainty around the world on what is happening in China, about the Russia-Ukraine conflict, growth prospects in Europe and the USA.
“In 2047, India will have a per capita income of the value of today’s dollars of 10,000 US Dollars. The average size of the GDP will be approaching close to 20 trillion US Dollars too. India, therefore, will be a transformed society,” a press release from the varsity quoting Debroy said.