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Why India's 7% growth may not be enough for 2047 developed nation goal

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Why India's 7% growth may not be enough for 2047 developed nation goal

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Why India's 7% growth may not be enough for 2047 developed nation goal

India needs 9.25% growth rate to meet PM Modi's 2047 developed-nation goal, according to Ashok Lahiri, a senior official at the country's apex government-run think-tank

Growth averaged 6.3% between 2000 and 2024, well below the current potential rate of 7.5%-8%. | Image: Bloomberg

Bloomberg 5 min read Last Updated : Aug 30 2026 | 9:21 AM IST

India likely grew at more than 7 per cent last quarter, a pace most major economies would envy. Yet, that may still be too slow to deliver on Prime Minister Narendra Modi’s dream of a developed nation.

Modi wants India to achieve that status by 2047, the centenary year of its independence from British rule. Getting there would require the world’s sixth-largest economy to grow at 9.25 per cent annually for 21 years, according to Ashok Lahiri, a senior official at the country’s apex government-run think-tank.

The ambition, branded Viksit Bharat — or Developed India— has become a centerpiece of Modi’s third term. However, assuming the current rate of growth, India’s economy would fall short of his vision, according to several economists.

5 per cent-8 per cent. 25 per cent just three times over the past 50 years — 1975, 1988 and 2021.



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