Viksit Bharat: NITI CEO Sees USD 30 Trillion Economy by 2047

New Delhi, Jan 10 (PTI) Asserting that 'Viksit Bharat' is not just a dream but a possibility, NITI Aayog CEO BVR Subrahmanyam on Wednesday said by most conservative estimates, India will be a USD 30 trillion economy by 2047.

Speaking at the 10th Vibrant Gujarat Global Summit here, Subrahmanyam further said India is in a position to take a quantum leap.

"Viksit Bharat is not just a dream, it's a possibility," he said.

According to him, a vision document is being prepared for India to become a developed economy of USD 30 trillion by 2047, and it will be released by the Prime Minister by the end of January.

"By most conservative estimates, India is going to be a USD 30 trillion economy by 2047," Subrahmanyam said.

He noted that if all states become 'viksit' (developed) then the nation can also become viksit.

The NITI Aayog CEO noted that massive expansion in physical and digital infrastructure has taken place in India.

"India is outperforming other emerging economies," he said, adding that this is a turning point in the country's history.

In 2023, NITI Aayog was entrusted with the task of consolidating the 10 sectoral thematic visions into a combined vision for Viksit Bharat @2047.

Viksit Bharat@2047 is the vision to make India a developed nation by 2047, the 100th year of its independence.

The vision encompasses various aspects of development, including economic growth, social progress, environmental sustainability, and good governance, among others.

India, with a GDP of roughly USD 3.4 trillion, is the fifth largest economy in the world, after the US, China, Japan and Germany.

The Indian economy is projected to grow by 7.3 per cent in the current fiscal, higher than 7.2 per cent in 2022-23.