As the world is witnessing the World Economic Forum’s latest summit at Davos, Union Minister Ashwini Vaishaw said that India is expected to surpass the $26 trillion dollar economy by the year 2047.
Ashwani Vaishnaw said, “In line with Prime Minister Narendra Modi’s vision, India has commenced its journey into ‘Amrit Kaal’, a uniquely auspicious period, representing India’s opportunity to herald a new world era. There is an unparalleled impetus on developing world-class infrastructure supported by growth and investment-oriented policies and reforms to establish India as a manufacturing and technology hub.”
The minister highlighted that under Prime Minister Narendra Modi’s leadership, India has taken a very consistent path towards growth, which is investment driven and provides long-term productivity gains. “Over the next decade, India will not only be the fastest growing economy but will also play an integral role in leading the world into a sustainable future,” he added.
According to a report by EY, India would have a significant advantage owing to its strong domestic demand, digitalization, largest talent pool globally, financial inclusion, global competitiveness, and sustainability transition. Macroeconomic stability, ease of doing business, power sector reforms and greater energy independence are key to economic resilience.
