By Dr RK Motwani

New Delhi: A recent Ernst & Young (EY) report projects India’s economy to hit $26 trillion by 2047. This will make the country one of the most advanced in the world. The research shows that India’s steady growth, demographic advantages, and government reforms are major factors in this change. The report has come after a year of Niti Aayog’s paper, “Vision for Viksit Bharat @ 2047: An Approach Paper,” which targets becoming a $30 trillion economy and a developed nation by 2047. This would be the same year that the country celebrates 100 years of independence. Ernst & Young (EY) sees India as one of the world’s top economic powerhouses—developed, dynamic, and critical—in a recent study. This outlook isn’t just a fantasy; it’s a real prediction that comes from the report.

If recent trends in India’s economy are any indication, the country will reach its goal of a $30 trillion GDP by 2047. The demographics are staggering, with a median age of 28 and a yearly influx of 10 million new workers creating a huge pool of labour and consumers. Public digital infrastructure such as Aadhaar, which has 1.4 billion digital IDs, the internet, and a large number of users, as well as UPI, which processes roughly half of all digital payments worldwide, facilitates efficiency and inclusion.
In terms of infrastructure and logistics, programs such as PM Gati Shakti are working to increase competition by reducing logistics........

© News9Live