Indian Defense
Krishna with Flute
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Aug 21, 2025
India could be $55 trillion economy by 2047 with 8% growth: IMF official
Krishnamurthy V Subramanian says India can achieve the feat if the country can keep the inflation below 5%
 "Krishnamurthy V Subramanian, executive director, International Monetary Fund (IMF)")
Krishnamurthy V Subramanian, executive director, International Monetary Fund (IMF)
Shiva RajoraNew Delhi
2 min read Last Updated : Aug 20 2024 | 10:12 PM IST
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Indian economy is slated to grow to $55 trillion by 2047, if the country is able to register an average real growth rate of 8 per cent in the coming years with average inflation remaining around 5 per cent, said Krishnamurthy V Subramanian, executive director, International Monetary Fund (IMF), on Tuesday at a Business Today event.
He said that 8 per cent is ambitious but achievable, especially given the demography and the kind of policies that have been implemented over the past ten years like the public digital infrastructure, innovation and entrepreneurship.
“If you take entrepreneurship, World Bank data from 2004 to 2014 shows that new firm creation was 3.2 per cent on average. From 2014 onwards, this new rate is orders of magnitude higher. As a result, you have the third-largest entrepreneurial ecosystem in the world, which will help with the productivity growth in the formal sector,” he said.
India could be $55 trillion economy by 2047 with 8% growth: IMF official
Krishnamurthy V Subramanian says India can achieve the feat if the country can keep the inflation below 5%
Krishnamurthy V Subramanian, executive director, International Monetary Fund (IMF)
Shiva RajoraNew Delhi
2 min read Last Updated : Aug 20 2024 | 10:12 PM IST
Connect with us
Indian economy is slated to grow to $55 trillion by 2047, if the country is able to register an average real growth rate of 8 per cent in the coming years with average inflation remaining around 5 per cent, said Krishnamurthy V Subramanian, executive director, International Monetary Fund (IMF), on Tuesday at a Business Today event.
He said that 8 per cent is ambitious but achievable, especially given the demography and the kind of policies that have been implemented over the past ten years like the public digital infrastructure, innovation and entrepreneurship.
“If you take entrepreneurship, World Bank data from 2004 to 2014 shows that new firm creation was 3.2 per cent on average. From 2014 onwards, this new rate is orders of magnitude higher. As a result, you have the third-largest entrepreneurial ecosystem in the world, which will help with the productivity growth in the formal sector,” he said.
