India Can be a $55 Trillion Economy by 2047 with Krishnamurthy Subramanian Executive Director IMF
In 1947, India gained independence with a per capita of around $2000(adjusted with inflation).
But over the next few decades, the govt adopted socialist policies, emphasising self-sufficiency and state-led development. As a result, India’s economy grew at a slower pace of 3.5% per year.
In 1991, India introduced a series of reforms— liberalisation, privatisation, and globalisation. India’s growth rate picked up, and by 2023, India’s per capita GDP was back to $2,600, driven by market-friendly policies and increased global trade.
In this episode of the NEON Show, Krishnamurthy Subramanian…
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