India's mission 2024: The road to Viksit Bharat
India aims to become a Viksit Bharat by 2047, in the centenary year of its Independence. Here is a peek into the path to that milestone
Team BT
- Aug 31, 2024,
- Updated Aug 31, 2024, 11:33 AM IST
Ever since India ushered in the era of liberalisation in 1991, its economy has grown by leaps and bounds. But what will India look like in 2047, the centenary of the country’s Independence? According to estimates, India’s economy could reach $30-35 trillion, while the benchmark BSE Sensex could zoom to 250,000 points (some peg it even higher at 400,000).
The country’s corporate profits are also expected to grow 16 times to $2.5 trillion, while India’s market valuation may expand to $45-50 trillion by 2047 and it could be among the Top 2 in the world. Powering this will be India’s estimated population of 1.65 billion in 2047, of whom, around 1.12 billion people would be of working age.
Hey!
THIS IS A PREMIUM STORY FROM BUSINESS TODAY.
Subscribe to Business Today Digital and continue enjoying India's premier business offering uninterrupted
only FOR
₹999 / Year
Unlimited Digital Access + Ad Lite Experience
Cancel Anytime
-
Unlimited access to Business Today website -
Exclusive insights on Corporate India's working, every quarter -
Access to our special editions, features, and priceless archives -
Get front-seat access to events such as BT Best Banks, Best CEOs and Mindrush
For companies, be they in manufacturing, healthcare, telecommunications, technology or aviation, to name just a few, it is the chance of a lifetime to deal with such a large base of consumers. From 435 million consumers in 2023, India’s consumer base could nearly triple to 1.1 billion by 2047, while the consumer market could reach a size of $8.5 trillion, according to industry estimates.
However, there are challenges along the way. A clearer policy, less bureaucracy to deal with and an investor-friendly environment must prevail to ensure that the journey to 2047 is a lot smoother. While India grows in scale and stature, ensuring that that benefits every segment of this large population is a big job on hand.
In the pages that follow, we track the mega trends leading up to 2047 and some of the best minds in the business discuss the road map for India’s path to a Viksit Bharat.
Read more!
RECOMMENDED