India's Rapid Economic Growth

According to NITI Aayog CEO B V R Subrahmanyam, India is poised to become the world's third-largest economy, surpassing Germany and Japan, in just three years. With an ambitious long-term vision, India could even claim the title of the second-largest economy globally by 2047.

Current Economic Standings and Future Projections

As per the latest International Monetary Fund (IMF) data, India's economy stands at USD 4.3 trillion. "We will be bigger than Germany and Japan in three years' time. By 2047, we could be the second largest economy (USD 30 trillion)," Subrahmanyam added.

India's Unique Democratic Edge

Highlighting India's potential to become a global education hub, Subrahmanyam pointed out that the country's democratic framework gives it a unique advantage. The transition from a low-income to a middle-income country presents new challenges, emphasizing the shift towards becoming a knowledge economy.

Global Ambitions and Demographic Shifts

Subrahmanyam urged Indian companies to raise their global ambitions, noting the demographic shifts worldwide. With countries like Japan and Germany recruiting Indian healthcare professionals due to their shrinking populations, India is set to be a stable supplier of working-age people across the globe.