Analysis employs a time-lag convergence framework comparing India's growth to South Korea's, suggesting pathways for inclusive economic expansion.
Emerging nations can accelerate development by benchmarking against successful growth trajectories. India’s ambition to attain developed-nation status by 2047 requires structural transformation with inclusive growth. This study employs a time-lag convergence framework to compare India’s development profile in 2025 with South Korea’s 2003 baseline, when Korea transitioned to a high-income economy. Using a cosine similarity index the analysis finds very high structural alignment in economic dimensions and high convergence in non-economic dimensions. The study argues that India’s forward convergence to 2047 is feasible, provided it integrates economic expansion with decisive reforms in social inclusion, R&D, and institutional quality. The findings contribute a forward-looking roadmap for India, emphasizing that structural growth must be paired with human capital and institutional development to achieve durable and inclusive prosperity.
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Pushpanjali Arya (2025) studied this question.
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