Overview
- India is projected to move into the upper-middle-income group by 2030 with roughly $4,000 per capita income under current World Bank thresholds.
- SBI forecasts the economy will cross $5 trillion in about two years, following a quick progression from $1 trillion to $4 trillion between 2007 and 2025.
- India is expected to overtake Germany to rank third globally by 2028, with the US and China remaining first and second.
- India’s relative performance has strengthened, with its average real GDP growth rank rising from the 92nd to the 95th percentile over recent decades.
- Reaching high-income status by 2047 would require per capita GNI growth near 7.5% annually at today’s threshold, or about 8.9% if the bar rises, based on SBI’s assumptions for population and inflation.