By R Subramaniam
On August 15th, 1947, India had its Tryst with Destiny- the country woke up to freedom with more questions than answers. What kind of nation would it become? Could it feed its 330 million people, educate its children, and stand tall on the world stage? This was in the aftermath of World War II and the partition of the country both in the West and East. Over the decades, the answers came, sometimes slowly, sometimes in bold leaps. The Green Revolution that began in the 1960s addressed persistent food deficits (Ship – to- mouth was the catchphrase) and fed a nation. The IT boom of the late 1990s and early 2000s (Y2K) put India on the global map and paved the way for an IT services economy. The economic reforms of 1991 opened doors to a new era. In the last ten years, modernising infrastructure, widespread digital adoption, and rising entrepreneurship (Unicorns) have all reshaped the country’s rhythm.
Now, we’re here in 2025, just 22 years away from India’s 100th year of independence. The next phase isn’t about just catching up. It’s about leading and transforming the Indian economy with knowledge and innovation. This is the moment to set the tone for the century year 2047
A Look Back: India’s Transformation So Far
India’s journey has been defined by ambition meeting resilience. From first Prime Minister Nehru’s five-year plans to the smart cities of today, each era has layered new capabilities over old challenges. We’ve moved from scarcity to surplus in agriculture, from subscale manufacturing due to our “small is beautiful” policy to becoming a services powerhouse, and from limited connectivity to one of the world’s largest mobile internet bases. Today, India stands as the world’s fourth-largest economy with a nominal GDP of over USD 4 trillion and the third largest economy on PPP basis
2025 Snapshot: Where India Stands Now
- Demographics- India has 1.46 billion people with the world’s largest young population- 371 million persons are aged 15 to 29 years. This offers potential for economic growth
- Fastest-growing major economy: GDP growth is projected by IMF at 6.4% for FY 2025–26 and FY 2026-27.
- Exports rising steadily: Total exports reached US$ 825 billion in 2024–25, with services exports doubling to US$ 387 billion over the last decade. India is diversifying its basket of products and geographies
- Infrastructure surge:
- Roads- India now has 6.7 million km of roads- the second largest in the world. The National Highway network has grown 60% in a decade to 146,000 km in 2024
- Rail- India’s rail network track length now exceeds 135000 km– already the fourth largest in the world and standarised on Broad Gauge and almost fully electrified
- Urban transport- Metro network expanded to 1,013 km, up from 248 km in 2014, placing India third globally. Investments being made to increase this several fold
- Urban development– Smart Cities Mission concluded in 2025 with 7,500+ projects completed and ₹1.5 lakh crore (USD 20 billion) invested in improving cities
- India’s port capacity has seen a marked increase from 871 MMTPA to 1630 MMTPA in the last 10 years. The private sector is driving investments in logistics improvement
The stage is being prepared for a more efficient and productive economy
The Next 22 Years: What India Must Build by 2047
The target is a US$ 30 trillion economy by 2047, with per capita income climbing to US$ 14,000 from USD 2880 at present (Amrit Kaal)
Growth will come by harnessing abundant manpower and technologies across Agriculture, Manufacturing and Services
Increasing agricultural incomes calls for productivity using modern techniques, building an efficient cold chain, and exposing the Indian farmer to best practices and foreign competition. This will not be easy as there is less willingness in the political class to reform agriculture
Diversification in the manufacturing base is needed. We need to build scale in all we make. The ideal is to produce quality products at competitive prices for global markets. There is much to learn from our Asian neighbours who are ahead of us in the game. Several large business houses such as Tata (in automobiles, electronics, etc.), Adani (multiple businesses), Bajaj (automobiles), Reliance Industries and MNCs are building large factories in India. The policy environment needs to be favourable for this to succeed
The Services sector is well and truly integrated with the global economy. Trade, Transportation and Tourism are likely to grow several fold creating investment opportunities. The captive BPOs of yore have given way to Global Capability Centers (GCCs) which leverage India’s people, their technical strengths and accounting capabilities. Expect the action to move to Tier 2 and Tier 3 cities
The role of the Government in creating a robust macroeconomic environment, creating jobs, reskilling existing manpower, sensible education and taxation policies can never be understated
Why This Matters
If you are a businessman, you are not just creating jobs. If you are in tech, you’re not just building software. You’re building the backbone of this 2047 vision. Smart governance platforms, AI-powered logistics, skilling platforms, and rural digital inclusion are all opportunities to lead the change.
Closing Thought
2047 isn’t just a milestone. It’s an open canvas. The choices made in 2025 will define not just India’s economy but its place in the world’s imagination. The centenary year will belong to the bold, and India is ready to claim it.
