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India can be world’s 4th largest economy by 2047: Jyotiraditya Scindia

Other News Materials 23 May 2022 10:57
India can be world’s 4th largest economy by 2047: Jyotiraditya Scindia

By 2047, India can become the world’s fourth largest economy, an infrastructure powerhouse and contribute to 15% of the global Gross Domestic Product (GDP), Union minister for civil aviation Jyotiraditya Scindia said on Saturday.

“By the year 2047, there will be full saturation of all the government schemes and a per capita income of ₹53,000 in 2010-11, will reach above ₹4 lakh per person by 2047 ,” he said while speaking at the 7th India Ideas Conclave, organised by a Bharatiya Janata Party-Rashtriya Swayamsevak Sangh-inspired think tank India Foundation.

Hailing the BJP-led National Democratic Alliance (NDA) government at the Centre for transforming India’s growth story over the last eight years, Scindia said: “In 2014, we were the 10th largest economy in the world; in the last eight years, we have grown at a cumulative level of almost 40%; that is taking into account even the Covid period… And by 2047, we will become the fourth largest economy in the world.”

“While the old era talked of an India governed only to provide and to control, we now have an India that is governed to enable and to allow the flowering of talent and entrepreneurship… This is the leap India has taken under the PM’s leadership,” he added.

The Union minister said the BJP has replaced “socialist straightjacketed” policies and “myopic ideas” with Atmanirbhar Bharat to ensure that every citizen has a role to play in the development of the nation.

With an eye on India becoming a country that contributes to 15% of the global GDP by 2047, Scindia said that India must focus on building “capability, capability and capability” and fashion the foundation of the development model on eight pillars.

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