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India targets 3rd-largest economy in 3 years: From $3 trillion to $30 trillion—India’s growth journey by 2047
India is set to become a $30 trillion economy by 2047, Union Education Minister Dharmendra Pradhan said. He was speaking at the platinum jubilee celebrations of XLRI-School of Management in Jamshedpur, where he highlighted the country's remarkable progress and ambitious goals.
Pradhan said that India is now the fifth-largest economy in the world, with a size of $3 trillion. He added that the growth is happening at a very fast pace and India will become the third-largest economy in 3 years, reaching $5 trillion. By 2047, India will be a $30 trillion power, marking its centenary of independence.
Accelerating Economic Growth
Its well-developed digital infrastructure along with strong economic policies explain India's growth as an emerging global giant. India, according to Pradhan, accounts for handling 46% of global digital transactions and, by doing so, stands unequaled in the world of a global digital economy. "Technological advances in a country, particularly in a digitized public infrastructure, end up driving the growth process forward," he further adds.
He further emphasized the need for wealth and job creation to sustain this growth. "India must become a hub for wealth creation and job opportunities. The potential to generate millions of jobs exists, and the world looks to India for leadership in digital innovation," Pradhan said.
The New Education Policy and Job Creation
The Economic vision he linked to the New Education Policy; he explained as a way to access and unlock wealth, with employment opportunities. The call was on the youthful generations to join in bringing transformation to India. Skills, mindset, and appropriate training will empower students as powerful tools to make India great and a superpower around the world.
A Hopeful Future
India’s journey from being an overlooked economy to becoming the fastest-growing one underscores its resilience and ambition. As the world recognizes India’s potential, the focus remains on sustaining growth, fostering innovation, and achieving milestones.