INDIA's Amrit Kaal
INDIA's Amrit Kaal
??GDP will be US$26 TRILLION in market exchange rate terms by 2047-48.
??Per capita income would exceed US$15,000 by 2047-48, putting it among the ranks of developed economies.
??The fastest-growing large economy in the medium term
??
These are the big projections by 安永 's in its report - INDIA@100: Realizing the potential of a US$26 trillion economy.
Here's more ??
KEY ENABLERS
#1 World's Information Technology and Services Hub ????
??Existing 1,500 Global Capability Centers (GCCs) in India representing 45% of global GCCs demonstrate capability
??Opportunity to become “office of the world” for corporations
??
#2 Digitization: A Force Multiplier ??
??Telecom subscriber base of 1.2b
??837m internet users
??Uniquely scalable Digital Public Infrastructure
??India Stack is now the global benchmark
??
?? 260m unique users adopted UPI
?? With 40% + share, India accounts for the highest volume of realtime digital payments among businesses globally
??Transformative initiatives like Open Credit
Enablement Network (OCEN) & Open Network of Digital Commerce (ONDC)
??
#3 Filling the Credit Gap to Fuel Growth ??
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??Banks’ ability to provide credit has improved
??Development of corporate bond market crucial for long-term financing requirement ??
#4 Thriving Entrepreneurship spurred by Private Capital ??
??Start-ups innovating & thriving on the strong foundation of India Stack.
??With greater access to private capital, equity markets + credit, the entrepreneurial spirit would continue to fuel growth??
#5 Reaping the Demographic Dividend ??
??Share of working-age pop. to total will reach 68.9% by '30 (highest level)
??1.04b working-age persons by 2030
??Historically the lowest dependency ratio at 31.2% by '30??
#6 Making Domestic Manufacturing Competitive ??
??Steady increase in total factor productivity in India since the 90s
??Aatmanirbhar Bharat to build self-reliance in a range of sectors
??PLIs have attracted investment commitments of US$31.3b ??
#7 Building the Infrastructure of the Future ??
??National Infrastructure Pipeline (NIP) & Gati Shakti - initiatives for better planning and execution
??Dedicated Freight Corridors (DFCs) to expand capacity
??InViTs, National Monetization Pipeline (NMP)??
#8 Transition to Sustainable Energy ??
??Renewable energy attaining critical mass: now 3rd largest producer of renewable energy in the world, with
~40% installed capacity coming from nonfossil sources??
That was a summary of 安永 's crystal gaze into the 100th year of India’s independence.
Read the entire report here: https://www.ey.com/en_in/india-at-100
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