India can become world's largest economy soon, says ex-RBI deputy
Michael Debabrata Patra, former RBI Deputy Governor, thinks India should set its sights high—he wants the country to become the world's largest economy.
At the 'Elara India Dialogue Ashwamedh,' he pointed to India's young population, digital growth, and macroeconomic stability, fiscal consolidation, and the inflation targeting framework as reasons this goal is within reach.
Patra outlines path to economic leap
Patra traced how India moved from food shortages to a surplus-driven, liberalized economy.
He believes that with smart investments and a strong banking system, India could become the world's second-largest economy by the mid-2040s.
But he also flagged some real challenges: underused workers, weak exports, infrastructure gaps, and climate risks.
His advice? Double down on infrastructure spending and ramp up manufacturing.
Climate data in focus for RBI
The RBI is now tracking climate data to help guide India's shift toward greener growth.
For Patra, hitting these big economic goals will likely take strategic planning—and serious investment in key sectors—to keep progress steady for decades to come.