India Can be a $55 Trillion Economy by 2047 with Krishnamurthy Subramanian Executive Director IMF

In 1947, India gained independence with a per capita of around $2000(adjusted with inflation).

But over the next few decades, the govt adopted socialist policies, emphasising self-sufficiency and state-led development. As a result, India’s economy grew at a slower pace of 3.5% per year.

In 1991, India introduced a series of reforms— liberalisation, privatisation, and globalisation. India’s growth rate picked up, and by 2023, India’s per capita GDP was back to $2,600, driven by market-friendly policies and increased global trade.

In this episode of the NEON Show, Krishnamurthy Subramanian, Executive Director at the IMF, explains how India can become a $55 trillion economy by 2047.

To learn more read India @100 : Envisioning Tomorrow’s Economic Powerhouse 

Connect with Krishnamurthy Subramanian
Linkedin |  Twitter
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Timestamp
01:20 – The power of compounding in GDP
04:55 – Chess game story that explains the power of compounding
06:19 – Rule of 72 to understand how money doubles
09:06 – How India will become a $55 trillion economy by 2047
12:33 – Thalinomics to understand inflation
14:20 – What is money in economic terms?
17:22 – Why was the inflation-targeting regime introduced post-1991?
20:30 – Inflation's effects on currency
26:42 – How does a currency react to economic shocks?
30:34 – India’s GDP in 1947 vs today
31:28 – How socialist policies potentially held India back
34:40 – Capitalism has always been in India's DNA
44:31 – How socialist policies have hurt Indian farmers
57:22 – Is agriculture a state subject?
59:59 – How India's growth is linked to productivity
01:09:30 – China’s GDP vs India’s GDP
01:16:48 – Why India is a top investment destination
01:26:10 – Indian startups should innovate differently
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This episode is for informational purposes only. The views expressed are those of the </