Fri Feb 28 10:03:22 UTC 2025: ## World Bank: India Needs 7.8% Growth to Become High-Income Country by 2047
**New Delhi, February 28, 2025** – A new World Bank report reveals that India requires an average annual growth rate of 7.8% to achieve high-income country status by 2047. The report, titled “Becoming a High-Income Economy in a generation,” highlights the need for significant reforms across various sectors to reach this ambitious goal.
While acknowledging India’s impressive 6.3% average growth between 2000 and 2024, the World Bank emphasizes that maintaining current growth rates is insufficient. The report states that achieving the target necessitates a near eightfold increase in Gross National Income (GNI) per capita, requiring sustained high growth over the next two decades – a feat rarely accomplished.
The report recommends a comprehensive “accelerated reforms” package focusing on four key areas: increased investment, structural transformation, job creation, and leveraging India’s demographic dividend through investments in human capital and increased female labor force participation. The World Bank suggests drawing lessons from countries like Chile, Korea, and Poland, which successfully transitioned to high-income status through greater global economic integration.
World Bank India country director Auguste Tano Kouame noted that India’s economic growth over the past two decades has been remarkable, transforming into the world’s fifth-largest economy. However, he stressed that continued reforms are crucial to achieving the 2047 high-income target. The report outlines three potential growth scenarios, emphasizing the importance of policy actions to ensure India stays on the path to prosperity.
First Piper 