India to be $30 T Economy by 2047: Niti Aayog CEO

India has become the fourth largest economy in the world, overtaking Japan, Niti Aayog CEO BVR Subrahmanyam has said. He said the overall geopolitical and economic environment is favourable to India.

Citing IMF data, Subrahmanyam said India today is larger than Japan. Till 2024, India was the fifth-largest economy in the world, “It is only the US, China and Germany which are larger than India, and if we stick to what is being planned and what is being thought through, in 2.5-3 years, we will be the third largest economy,” Subrahmanyam said.

According to IMF data, India’s per capita income has doubled from $1,438 in 2013-14 to $2,880 in 2025.

NITI Aayog approach paper titled “Viksit Rajya for Viksit Bharat @2047’said from being considered a part of the ‘fragile five’ economies of the world, India rose to become the top five economies of the world in just a decade.

The World Bank defines high-income countries as those whose annual per capita income is more than $14,005 (2024-25). India has the potential and aims to be a high-income country by 2047. The approach paper said a Viksit Bharat @ 2047 will be a $30 trillion economy.

According to the paper, to achieve the goal of a Viksit Bharat by 2047, an overall framework for strategic interventions and reforms based on six key building blocks, with a total of 26 themes covered across all the building blocks have been identified.

The six key building blocks include macro economic goals and strategy; empowered citizens; a thriving and sustainable economy; technology and innovation leadership.

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