India to become $26 trillion economy by 2047: EY report

  • An EY ((Ernst & Young Global Limited) report states that the Indian economy is likely to reach $26 trillion by the year 2047, which will also be the 100th year of India’s independence.
  • According to this report named ‘India at 100: Realizing the Potential of 26 Trillion Economy’, in 2047 the average annual per capita income will reach 15 thousand dollars i.e. about 12.25 lakh rupees at the current exchange rate, It will be more than 6 times from today’s level.
  • The report claims that by 2030, India would have overtaken Germany and Japan to become the world’s third largest economic superpower.
  • India’s service related exports have increased at the rate of 14% in the last 2 decades to reach $ 25,450 million in 2021-22.
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