NITI Aayog CEO Claims Indian Economy Could Double by 2030, Sees Climate Change as an Opportunity for India
India Could Double Its Economy by 2030, NITI Aayog CEO BVR Subrahmanyam Says On Wednesday, NITI Aayog CEO BVR Subrahmanyam projected that India could easily double the size of its economy by 2030. Speaking at an event hosted by the Public Affairs Forum of India (PAFI), Subrahmanyam also emphasized that climate change presents India with a significant opportunity to lead in climate technology.
“Our economy should easily double by 2030. India’s goal of becoming the third-largest economy by 2026-2027 requires a well-coordinated grand strategy,” he stated.
Currently, India ranks as the fifth-largest economy globally, with a nominal GDP of approximately $3.7 trillion.
“By 2047, India will emerge as a major global player. It already has substantial influence and will grow even more significant in international affairs,” Subrahmanyam added.
He also noted that by 2047, India is expected to be one of the world’s youngest nations demographically, with a projected per capita income ranging from $18,000 to $20,000, positioning it for substantial prosperity.
He stated, “This growth is remarkable as India is expected to emerge as a leading global player, drawing on the substantial progress made over the past decade in addressing challenges such as natural disasters and poverty.”
He also highlighted the importance of focusing on the green economy, noting that the Aayog is actively working on creating a roadmap for achieving net zero carbon emissions by 2070.
He shared, “We have assembled a task force and are working in conjunction with both central and state governments to achieve our aims.”
The CEO of Niti Aayog underscored the importance of global value chains (GVCs).
He noted that the government is actively developing improved strategies across various sectors and services.
Subrahmanyam emphasized the importance of urban development and infrastructure, stating that cities are being designed as economic centers to foster growth.
He believes that the private sector has to take the lead in investment and innovation, backed by a supportive climate that draws both direct and portfolio investments.
The CEO of Niti Aayog also stated that managing globalization requires supply chain reform.
He emphasized that in the end, inclusive growth will be ensured by state-level reforms and a dedication to cooperative federalism, setting India up to become a global powerhouse and guide the country into a prosperous future.
