India's 2047 development target requires 8% to 9% annual growth
Business
India wants to become a developed country by 2047, but there's a catch: it needs to keep growing at 8% to 9% every year for the next 20 years.
Statistics ministry secretary Saurabh Garg said this will require continued reforms and policy interventions.
Still, he sounded optimistic about India's potential as the fastest-growing economy.
India targets $30tn economy by 2047
Right now, India's economy is worth $4 trillion, but the aim is a massive jump to $30 trillion by 2047.
The country recently beat growth expectations, and global agencies like the IMF and the World Bank see strong numbers ahead.
Plus, there are plans to update how we measure economic progress: soon, things like data as an asset, depletion of natural resources, and well-being will count too, not just money.