Friday, April 21, 2017

India to Become 3rd Biggest Economy by 2030 - US Department of Agriculture Study - 2015

12 April 2015

US Department of Agriculture made the following projections of GDP for USA, China and India in 2030


USA  $24.8 trillion
China   $22.2 trillion
India   $6.6 trillion

India will do better.

23 April 2017

The Vice Chairman, NITI Aayog, Dr. Arvind Panagariya briefing the media after the 3rd Governing Council Meeting, in New Delhi on April 23, 2017. The CEO, NITI Aayog, Shri Amitabh Kant is also seen.
CNR :96031 Photo ID :101435

India GDP will be $7.2 trillion in 2030 - NITI Ayog

Niti Ayog has developed a 15 year plan from the financial year 2015 - 16 to 2030 - 31 and made the forecast that Indian GDP will be $7.2 trillion in 2030.

Meeting related materials

Opening Remarks by PM

Presentation by Amitabh Kant, CEO, NITI

PIB Press Release on Accomplishments of NITI during the last three years

Presentations on NITI Aayog’s work, GST, and raising agricultural income, made at meeting of Governing Council, NITI Aayog

PM's  closing remarks at 3rd Meeting of Governing Council of NITI Aayog

11 May 2015

 $10 trillion economy by 2034

We need to boost R&D spending to 2.4% of GDP to achieve GDP growth of 9% p.a. for number of years and  become $10 trillion economy by 2034

India's economy would need to increase its research and development (R&D) spending from mere 0.8 per cent of gross domestic product (GDP) in 2013 to 2.4 per cent  similar to developed markets of Korea (3.8 per cent), US (2.7 per cent) and China (1.9 per cent)  to grow its GDP by 9 per cent per annum to become a $10 trillion economy over the next two decades. Minister of state for science & technology and earth sciences, Mr Y.S. Chowdary  stressed the point while inaugurating '3rd Innovation Summit-cum-Excellence Awards: Innovative India@2020,' organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on 11th May 2015.

Focus on innovation should not  be restricted to new technologies and products but also include innovative distribution and financing processes and business models according to the minister.

Updated 24 April 2017,  1 November 2015
Published on 12 April 2015

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