India is expected to be a $6.5-7 trillion economy by 2030, and at the current exchange rate it would touch $10 trillion by 2035-40, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM) Bibek Debroy said on Thursday.
The per capita income in India by 2030 will however be just $4,000, still less than many other countries, he said.
“In the year 2030, India’s national income will be around USD 6.5-7 trillion. If exchange rate remains what it is today then by 2035-40, India will be $10 trillion economy.
“And if exchange rate appreciates then India will be $10 trillion economy before 2035,” Debroy said at Skoch summit in New Delhi.
India will be remarkably different country as the size of its economy will enhance the country’s role in global affairs, he said.
He also said that people are not seeking government jobs, instead more and more people are providing jobs to others.
Talking about the issues related to land, Debroy said it is a contentious issue and it is very inefficiently used in India.
“We don’t have clear system of land titling.”