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The Morning Brief
Building India’s $30 Trillion Future By 2047
Dec 24, 2024
Josh Foulger, CEO of Zetwerk, and Anmol Jaggi, Co-Founder of Gensol Group, share insights on India's ambitious goal to reach a $30 trillion economy by 2047. They discuss the crucial role of the electronics industry in boosting growth under the Make in India initiative. The conversation also highlights advancements in renewable energy and sustainable mobility, including the electrification of transportation. With global challenges looming, they emphasize the importance of private investment and innovative policies to navigate risks and seize opportunities.
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Quick takeaways
- India is on track to become a $30 trillion economy by 2047, with projected GDP reaching $7 trillion by 2031 despite recent slowdowns.
- The nation’s renewable energy initiatives, aiming for 500 gigawatts by 2030, will play a vital role in addressing sustainability challenges.
Deep dives
India's Economic Growth Projections
India is on track to become a $30 trillion developed economy by 2047, with impressive growth expectations leading up to that milestone. The GDP is projected to reach $7 trillion by 2031, despite a recent dip to a seven-quarter low of 5.4%. Although GDP growth is expected to moderate to 6.8% in fiscal 2025, India will still hold the title of the world's fastest-growing major economy. Government infrastructure investments have significantly increased, rising from 1.7% to 3.4% of GDP, which is anticipated to drive private sector capacity utilization to a record high, benefiting sectors such as manufacturing and renewable energy.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode