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Former Chief Executive of NITI Aayog, Amitabh Kant, recently shed light on why India, despite being one of the top five global economies, is still classified as a ‘developing nation’.

Why India is still considered a developing nation: Insights from Amitabh Kant

May 22, 2024, 06:19 PM - 2 min read

"Even China, Brazil, and Malaysia are regarded as developing countries," he pointed out in a response on social media platform X (formerly Twitter). As of 2022, India's GNI per capita stood at $6,951, a rise from $6,542 in 2021, based on the Human Development Index.

In a bold projection, India's G20 Sherpa and former CEO of NITI Aayog, Amitabh Kant, has asserted that India is on track to surpass Japan and Germany to emerge as the third-largest economy and stock market globally within the next five years.

India will surpass Japan & Germany to emerge as 3rd largest economy in 5 years, says Amitabh Kant

March 21, 2024, 08:01 PM - 2 min read

Citing projections by the International Monetary Fund (IMF), Kant underscored that India is set to contribute nearly 20 percent of the world's economic expansion over the next decade.

India must sustain a 9-10% annual growth rate and foster continuous innovation to achieve its goal of becoming a $35 trillion economy by 2047, according to former NITI Aayog CEO Amitabh Kant.

India needs to grow at 9-10% for 3 decades to be USD 35 trn economy by 2047: Kant

February 19, 2024, 11:01 AM - 2 min read

"We are the fifth largest economy in the world and by 2027 we will surpass Japan and Germany to become the third largest economy in the world. And our aim is that by the time we turn 100 in 2047, India should be a USD 35 trillion economy," Kant said while addressing a session at Mumbai Tech Week (MTW) hosted by Tech Entrepreneurs Association Mumbai (TEAM).