India To Become High-Income Country By 2047, Says Report

New Delhi: India is set to transform into a high-income country with a projected GDP of $23–$35 trillion by 2047, driven by sustained annual growth of 8-10 per cent, according to a report on Thursday. This will be powered by India’s demographic dividend, technological innovation, and sectoral transformation, according to the report by Bain &Company and Nasscom.

With nearly 200 million individuals expected to enter the workforce in the coming decades, India has a unique opportunity to drive high-value job creation and unlock significant economic potential. Five key sectors, including electronics, energy, chemicals, automotive, and services, would act as strategic growth levers due to alignment with global trends and scalability, with the potential to address India’s unique challenges and advantages.