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.
Rising income, a growing pool of skilled workers, and continuous improvements in infrastructure are some of the key factors that can fuel this growth, said the report.
“By investing in digital and transport infrastructure, enhancing domestic manufacturing, and driving collaborative R&D, we can position India as a leader in future technologies and global trade. A multi-pronged, tech-driven approach will be key to unlocking inclusive and sustainable growth,” said Sangeeta Gupta, Senior Vice President at Nasscom.
Advances in AI-driven chip design, touchless manufacturing, and backward integration into component manufacturing and design could enhance cost competitiveness and innovation, driving the sector’s export share from 24 per cent to 45 per cent-50 per cent by 2047 and its GDP contribution from 3 per cent to 8 per cent-10 per cent.
India’s share of renewables in overall energy generation has the potential to rise from 24 per cent in 2023 to 70 per cent in 2047 backed by modernising energy infrastructure, and scaled investments in green energy. India is also likely to transition from a net energy importer to a net exporter.
“AI-powered molecular design and digital twin technologies, along with other tech-driven improvements can lead to a potential increase India’s share in global value chain from around 3 per cent to over 10 per cent in 2047,” said the report.
Auto-components exports sector are likely to reach $200–$250 billion (by 2047), driven by near-term share capture in ICE market and longer-term shift to EVs.
“Electronics is one of the key sectors instrumental in this journey and is poised to emerge as a global manufacturing hub expected to $3.5 trillion by 2047, contributing more than 20 per cent to global production,” said Lokesh Payik, Partner at Bain & Company.
Tripura Govt contemplating to boost tourism: Minister Sushanta Chowdhury
The state transport and tourism minister Sushanta Chowdhury on Thursday said that the government is contemplating to make tourism as an alternate means of livelihood in the state. Adequate fund has been allocated for further developing the tourism sector, he added.
Imports from B’desh to Tripura increase, exports largely decline: Minister
Imports from Bangladesh into Tripura increased but exports from the northeastern state of India to the neighbouring country substantially declined, state Industries and Commerce Minister Santana Chakma told the Assembly on Thursday.
67 percent households in AMC areas connected with drinking water supply: CM Dr Manik Saha
Chief Minister Dr Manik Saha on Thursday claimed that at least 67% households were connected with drinking water supply in the areas of Agartala Municipal Corporation.
Boy drowns in Muhuri River during Baruni bathing ritual
In a tragic incident, Sayan Pal (18), a 12th-standard student from Arya Colony, Belonia, drowned in the Muhuri River while participating in the holy Baruni bathing ritual on Wednesday afternoon.
Innovative projects launched to supply drinking water from Dumbur: CM
Chief Minister Prof. Dr. Manik Saha today said that several innovative projects have been set up based on the reserved water of the Dumbur water reservoir, making it possible to provide drinking water connections to many families through pipelines.
Govt undertaken measures to increase Howrah river’s navigability: Tripura CM
Chief Minister Prof. Dr. Manik Saha today said that the state government has undertaken a series of measures to permanently address flooding in Agartala city by increasing the navigability of the Howrah River.
Tripura Assembly witnesses spat over minister's 'racist' remark against LoP
The Tripura Assembly witnessed a noisy scene for the fourth day on Thursday over Parliamentary Affairs Minister Ratan Lal Nath's alleged racist remarks against Leader of the Opposition (LoP) Jitendra Chaudhury.
Centre Releases Rs 240.5 Crore to Tripura for Urban Planning Reforms
Chief Minister Prof. Dr. Manik Saha today announced that the Ministry of Finance has released Rs 240.5 crores to Tripura for achieving urban planning reforms.