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| 23 March 2010 |
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Edition :: 78 Vol
:: II |
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| A Publication of Consulate General of India, Johannesburg |
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| 'GDP set to rise 4-fold by 2020'
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| Source: IBEF |
Place : Mumbai |
| News
Date : 18 March 2010 |
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Mumbai: The Indian economy is set to become four times its current size in the decade to 2020, with the gross domestic product (GDP) spurting to over $4 trillion (about Rs 205 lakh crore at present exchange rate) and per capita income rising to $3,213 from $1,017 now. During these ten years, annual incremental savings will also jump nearly four times to Rs 72 lakh crore from Rs 19 lakh crore now, a report published by domestic broking major Edelweiss Capital said.
"Driven by a nominal annual growth rate of 13%, India's GDP is set to quadruple over the next ten years and the country is likely to be a Rs 205-lakh-crore ($4,496,100,598,932.29) economy by 2020," the Edelweiss report, titled 'India 2020: Seeing, Beyond', which was presented to FM Pranab Mukherjee recently and released on Wednesday, said.
The report focuses on three super themes -- financial services, private domestic consumption and infrastructure, all of which are estimated to grow by over four times during the decade under consideration.
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