India's Path to Economic Dominance by 2030: NITI Aayog CEO

NITI Aayog CEO BVR Subrahmanyam announced that India could double its economy by 2030 and become a leader in climate technology. He emphasized the country's ambition to be the third-largest economy by 2026-2027, highlighting the importance of reforms and an enabling environment for private sector innovation.

India is poised to double its economy by 2030, according to NITI Aayog CEO BVR Subrahmanyam. Speaking at a Public Affairs Forum of India (PAFI) event, Subrahmanyam said that climate change presents an opportunity for India to lead in climate technology.

'Our economy should easily double by 2030,' he noted, adding that achieving the status of the third-largest economy by 2026-2027 requires a cohesive grand strategy. Currently, India is the fifth-largest economy globally, with a nominal GDP of USD 3.7 trillion.

Subrahmanyam highlighted that by 2047, India will be a significant global player with a projected per capita income of USD 18,000 to USD 20,000. The country aims to achieve net zero carbon emissions by 2070 through the green economy initiatives led by NITI Aayog. He also stressed the importance of urban development, private sector innovation, and state-level reforms in achieving inclusive growth.

(With inputs from agencies.)