‘PM Modi’s goal to make India high-income country by 2047 unlikely to be achieved’

Prime Minister Narendra Modi’s goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said.
Wolf further said that India would also become a superpower by 2047.
“India wishes to become a high-income country by 2047. That is unlikely to be achieved. But it should become an upper middle-income country by then,” he said at an event organised by CUTS.
Wolf noted that the slow-growing, shock-prone, and fragile world we now confront will make India’s rise difficult.
“India will have to work hard to use its influence to shape that world in a favourable direction,” he said, adding that it will also have to shape itself to exploit the opportunities it will have.
Prime Minister Modi in his Independence Day speech last year said, “I have an unwavering belief that in 2047, when the country celebrates 100 years of independence, my country will be a developed India.”