India's per capita income to surpass $3,000 by 2026
India's per capita income has shot up nearly 10 times since 1981, now reaching $2,700 in 2024.
RBI Deputy Governor Poonam Gupta points out that this growth is actually outpacing the country's overall GDP, an important factor being a decline in population growth, which she says has been, since about 2014, at par with the growth rate in world population.
IMF projections cited by Gupta put per-capita income at $3,051 in 2026 and possibly $4,300+ by 2030.
Some other estimates differ.
How population growth is impacting per capita income
India's economy is now the world's fourth largest at $4.3 trillion and keeps expanding.
But here's what's interesting: as prosperity and education have increased since the '80s, fertility rates have dropped faster than mortality rates.
That means fewer people are sharing the economic pie, so everyone gets a bigger slice.
If GDP growth continues at recent rates, young Indians could see even more gains ahead.