New Delhi: The Narendra Modi government aspires for India to become a USD10 trillion economy by 2047, and a developed nation. But, as The Economist argues, “this should be a doddle.” Instead, India should focus on attaining a developed-world standard of living.

“The dollar value of India’s GDP in 2047 will depend on the value of its economy and the exchange rate between the rupee and the greenback. At today’s rates, India has a GDP of $4.2trn. Raising that to $30trn would mean growth of over 9% a year for the next 22 years,” says the magazine.

“That might sound difficult, but India ought to receive help from a real appreciation in its currency; as it gets richer, prices will converge with America’s, resulting in a bigger economy in future rupee terms, a dearer currency or both.” Show

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