India's economic momentum, driven by a burgeoning middle class and progressive regulations, surged by 7.6% in 2023, positioning it to become the world's third-largest economy by 2027. Amid global challenges, India's robust recovery instills optimism, with forecasts envisioning a transition to high-income status, surpassing $30 trillion GDP. Amidst this growth, lies the vision of a ‘Viksit Bharat’ (developed India) by 2047, marking 100 years of independence. Accounting for climate and oil shocks, our projections outline divergent scenarios for achieving high-income status by 2045 or 2080, underscoring the imperative of sustained development efforts for a prosperous Bharat.
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Kumar et al. (2024) studied this question.
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