India to become $26 trillion economy by 2047: EY report

EY Projection

Ernst & Young, released a report titled India@100: Realizing the potential of a US$26 trillion economy. According to the estimates Indian economy will reach GDP size of US$26 trillion by 2047, the 100th year of the country’s independence. The per capita income is expected to increase to US$15,000, putting the country among the ranks of developed economies.

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Growth Enablers As Per Report

1.  World’s Information Technology and Services Hub
2.  Digitalization: A Force Multiplier
3.  Filing the credit gap to fuel growth
4.  Thriving entrepreneurship spurred by private capital
5.  Reaping the demographic dividend
6.  Making domestic manufacturing competitive
7.  Building the infrastructure of the future
8.  Transition to sustainable energy

Policy Recommendations

1. Prudent macro-economic management focused on managing and stabilizing inflation and currency, ensuring predictability in policies and proactively de-risking the economy would remain important for India to continually attract domestic and global investors.
2. Simultaneously, enhancing ease of doing business, accelerating power sector reforms and energy independence, and enabling quality healthcare and education will not only increase business confidence but also ensure socio-economic development on a sustained basis.

• EY Headquarter:- London, England
• Chairman & CEO – Carmine Di Sibio

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