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Economic Times
5 hours ago
- Business
- Economic Times
India's next phase of growth must focus on per capita GDP: Report
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India has overtaken several economies in terms of GDP over the past decade, but its citizens' per capita income remains poor. In that context, a report by Llama Research suggested that the next phase of India's growth must translate into individual scale-up, digital formalisation, and rising income tiers are some of the reasons that are at India's that India ranks the lowest on per capita income among the top 10 economies, Llama Research asserted, "This isn't a flaw, it's a window of compounding potential."Tech savvy population, solid policy, room for long-term capital formation, and macro stability are some other positives for India, according to the report."India is not just rising in rank, it's building the foundations to lead from the ground up," Llama Research said in the report 'India's growth: Journey from size to strength'.To realise the vision of 'Viksit Bharat', a developed nation dream by 2047, India will need to achieve a growth rate of around 8 per cent at constant prices, on average, for about a decade or two, the Economic Survey document for 2024-25 tabled on January 31 has made quite a turnaround, climbing the ladder of economic growth. This can be gauged from the 11th in 2013-14, India has positioned itself to become the fourth largest economy. Even as India has overtaken many countries in terms of the size of the economy over the past decade, the per capita income in India remains very 2013, India was placed in the league of 'Fragile 5' economies. The term 'Fragile 5' was coined by a Morgan Stanley analyst and refers to a set of five emerging countries, including India, whose economies were not doing well. The other four countries were Brazil, Indonesia, South Africa, and India is the fifth largest economy, and among the fastest-growing major economies. It is projected to remain so over the next few years, as many global agencies have the current financial year, India is set to overtake Japan to become the world's 4th largest economy, as projected by was widely expected, the Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25. In 2023-24, India's GDP grew by an impressive 9.2 per to official data, the Indian economy grew 8.7 per cent and 7.2 percent, respectively, in 2021-22 and 2022-23.
Time of India
6 hours ago
- Business
- Time of India
India's next phase of growth must focus on per capita GDP: Report
India has overtaken several economies in terms of GDP over the past decade, but its citizens' per capita income remains poor. In that context, a report by Llama Research suggested that the next phase of India's growth must translate into individual prosperity. Manufacturing scale-up, digital formalisation, and rising income tiers are some of the reasons that are at India's advantage. Noting that India ranks the lowest on per capita income among the top 10 economies, Llama Research asserted, "This isn't a flaw, it's a window of compounding potential." Tech savvy population, solid policy, room for long-term capital formation, and macro stability are some other positives for India, according to the report. "India is not just rising in rank, it's building the foundations to lead from the ground up," Llama Research said in the report 'India's growth: Journey from size to strength'. Live Events To realise the vision of 'Viksit Bharat', a developed nation dream by 2047, India will need to achieve a growth rate of around 8 per cent at constant prices, on average, for about a decade or two, the Economic Survey document for 2024-25 tabled on January 31 asserted. India has made quite a turnaround, climbing the ladder of economic growth. This can be gauged from the 11th in 2013-14, India has positioned itself to become the fourth largest economy. Even as India has overtaken many countries in terms of the size of the economy over the past decade, the per capita income in India remains very low. In 2013, India was placed in the league of 'Fragile 5' economies. The term 'Fragile 5' was coined by a Morgan Stanley analyst and refers to a set of five emerging countries, including India, whose economies were not doing well. The other four countries were Brazil, Indonesia, South Africa, and Turkey. Currently, India is the fifth largest economy, and among the fastest-growing major economies. It is projected to remain so over the next few years, as many global agencies have anticipated. In the current financial year, India is set to overtake Japan to become the world's 4th largest economy, as projected by IMF. As was widely expected, the Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25. In 2023-24, India's GDP grew by an impressive 9.2 per cent. According to official data, the Indian economy grew 8.7 per cent and 7.2 percent, respectively, in 2021-22 and 2022-23.
Time of India
7 hours ago
- Business
- Time of India
Report: India's economic rise must now translate into individual prosperity; growth yet to reflect in per capita income
This is an AI-generated image, used for representational purposes only. India has surged ahead in global GDP rankings over the past decade, but its per capita income remains among the lowest in the top 10 economies. In this context, a new report by Llama Research has underlined the need for India's next growth phase to focus on improving individual prosperity, reported news agency ANI. Titled 'India's Growth: Journey from Size to Strength', the report calls India's low per capita income 'a window of compounding potential' rather than a flaw. It argues that India is at a turning point where growth must move from macro achievements to boosting income levels and living standards across the population. 'India is not just rising in rank, it's building the foundations to lead from the ground up,' Llama Research noted. The report credits the country's digital formalisation, manufacturing push, demographic strength, macroeconomic stability, and strong policy framework as tailwinds for inclusive growth. Despite rising to the fifth spot globally in terms of GDP and projected to overtake Japan this year, India ranks at the bottom in per capita income among the top 10 economies. To meet its vision of becoming a developed nation by 2047, 'Viksit Bharat', India needs to sustain a growth rate of around 8 per cent for the next two decades, as mentioned in the Economic Survey 2024-25, tabled in Parliament on January 31. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Forget the socks. This year, gift Dad a pizza oven Ooni Pizza Ovens Learn More Undo The journey has been significant. In 2013-14, India was 11th on the global GDP chart and part of the so-called 'Fragile 5' economies, a term coined by Morgan Stanley for emerging markets with weak fundamentals. Now, with growth rates of 8.7 per cent (2021-22), 7.2 per cent (2022-23), and 9.2 per cent (2023-24), India has defied that tag. The recently concluded FY25 saw a real GDP growth of 6.5 per cent. However, rating agency ICRA has trimmed its growth outlook for FY26 to 6.2 per cent, citing global trade uncertainties and a slowing growth base. While rural demand is expected to hold up, weak merchandise trade and inflationary pressures could weigh on broader economic momentum. Despite this, the outlook remains positive on services exports, domestic consumption, and public capital expenditure. ICRA projects the fiscal deficit at 4.4 per cent of GDP in FY26 and sees the current account deficit between 1.2-1.3 per cent. To truly transform, India must not only expand its economic size but also ensure the fruits of growth reach individuals, especially the lower-income population. As the Llama report puts it, 'this is a question of values and ideology.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
8 hours ago
- Business
- India Gazette
India's next phase of growth must focus on per capita GDP: Report
New Delhi [India], June 21 (ANI): India has overtaken several economies in terms of GDP over the past decade, but its citizens' per capita income remains poor. In that context, a report by Llama Research suggested that the next phase of India's growth must translate into individual prosperity. Manufacturing scale-up, digital formalisation, and rising income tiers are some of the reasons that are at India's advantage. Noting that India ranks the lowest on per capita income among the top 10 economies, Llama Research asserted, 'This isn't a flaw, it's a window of compounding potential.' Tech savvy population, solid policy, room for long-term capital formation, and macro stability are some other positives for India, according to the report. 'India is not just rising in rank, it's building the foundations to lead from the ground up,' Llama Research said in the report 'India's growth: Journey from size to strength'. To realise the vision of 'Viksit Bharat', a developed nation dream by 2047, India will need to achieve a growth rate of around 8 per cent at constant prices, on average, for about a decade or two, the Economic Survey document for 2024-25 tabled on January 31 asserted. India has made quite a turnaround, climbing the ladder of economic growth. This can be gauged from the 11th in 2013-14, India has positioned itself to become the fourth largest economy. Even as India has overtaken many countries in terms of the size of the economy over the past decade, the per capita income in India remains very low. In 2013, India was placed in the league of 'Fragile 5' economies. The term 'Fragile 5' was coined by a Morgan Stanley analyst and refers to a set of five emerging countries, including India, whose economies were not doing well. The other four countries were Brazil, Indonesia, South Africa, and Turkey. Currently, India is the fifth largest economy, and among the fastest-growing major economies. It is projected to remain so over the next few years, as many global agencies have anticipated. In the current financial year, India is set to overtake Japan to become the world's 4th largest economy, as projected by IMF. As was widely expected, the Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25. In 2023-24, India's GDP grew by an impressive 9.2 per cent. According to official data, the Indian economy grew 8.7 per cent and 7.2 percent, respectively, in 2021-22 and 2022-23. (ANI)
