Summary:

Dr. K V Subramanian, India's Executive Director at the IMF, voiced confidence in the country's route to becoming a US$ 55 trillion economy by 2047, as detailed in his book "India@100: Envisioning Tomorrow's Economic Powerhouse". At a USISPF seminar, he emphasised investment potential for American investors, predicting returns of 15-20 times over 25 years. He advised the Indian diaspora to invest in Indian bank accounts, noting better wage growth compared to the United States.

He predicted that India will become the world's third-largest economy by the end of the decade, overtaking Japan and Germany, thanks to 12% annual GDP growth. While acknowledging the obstacles, he emphasised substantial income increases, perhaps tripling every five years. His ambitious prognosis, which expects India's economy would reach US$ 55 trillion by 2047, contrasts with others' projections of US$ 25-30 trillion, highlighting his trust in India's unique development potential.

Source: IBEF 

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