View: India can hit trillion easier with JFK’s NASA blueprint

View: India can hit $5 trillion easier with JFK’s NASA blueprint

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Synopsis

GDP is not produced by magic. Boring as it may sound, GDP results from deploying capital (investment) and labour, and the productivity of those two resources. The greater the amounts of these three factors of production, the faster a nation’s GDP grows.

India has set an ambitious target of becoming a $5 trillion economy by 2024-25. Because of the Covid-19 body blow, if this target date is reset to five years from now, India must grow from its current size of $3 trillion to $5 trillion by 2026-27. Simple maths tells that an annual growth rate of 11% is needed to meet the target. This is about twice the average annual growth for the past two decades. What would it take to achieve it? India needs

BY

S P Kothari

ET CONTRIBUTORS

7 mins read, Last Updated:

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