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The Competitiveness Roadmap for India@100 was released by the Economic Advisory Council to the Prime Minister (EAC-PM) on Tuesday. The road map, which is a part of the India Competitiveness Initiative, was released in the presence of Dr Bibek Debroy, chairman, EAC-PM, Sanjeev Sanyal, member, EAC-PM, and the members of the group formed as part of the initiative.
It is a collaborative endeavour between the EAC-PM and The Institute for Competitiveness and is developed by Dr Amit Kapoor, chair, Institute for Competitiveness, Professor Michael E Porter, and Dr Christian Ketels of Harvard Business School.
During his speech, Debroy said that India can become an upper-middle-income country by 2047 if it manages to achieve a sustained growth rate of 7-7.5 per cent for the next 25 years. The country can become a $20 trillion economy by 2047 at this growth rate, he added.
India, the world's sixth-largest economy with a GDP of $2.7 trillion, is currently classified as a developing nation. "Even if you have relatively conservative real rates of growth of 7-7.5 per cent, we will get to a per capita income of about $10,000.
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