• HINDI
  • JaiTV
  • Login
Ganga News Today
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • FASHION
  • TECH
  • LIFESTYLE
  • SPORTS
  • OTHERS
    • PEOPLE
    • OPINION
    • BREAKING NEWS
    • INFO
    • SOCIAL
    • VIDEOS
No Result
View All Result
Ganga News Today
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • FASHION
  • TECH
  • LIFESTYLE
  • SPORTS
  • OTHERS
    • PEOPLE
    • OPINION
    • BREAKING NEWS
    • INFO
    • SOCIAL
    • VIDEOS
No Result
View All Result
Ganga News Today
No Result
View All Result
Home INDIA

India’s Per Capita Income to Witness Remarkable Growth by 2030

by Ayushi
July 30, 2023
in INDIA
India's Per Capita Income to Witness Remarkable Growth by 2030
X (Twitter)FacebookWhatsappTelegram

According to a research report by Standard Chartered Bank, India’s per capita income is expected to grow by approximately 70% by 2030, reaching $4,000 from the current level of $2,450. This substantial increase in income is projected to transform India into a middle-income economy with a GDP of $6 trillion, with household consumption contributing significantly to this growth.

 

Over the past two decades, India’s per capita GDP has experienced substantial growth, rising from $460 in 2001 to $2,150 in 2021.

RelatedPosts

Priyanka Gandhi speech in inauguration ceremony of the ATTOI Tourism Convention Wayanad

Maha Kumbh 2025 Sees Record 600 Tons of Floating Waste Recycling, Offers Lessons for Many

PM Shri Narendra Modi Inaugurates Namo Hospital in Silvassa

 

The research report highlights external trade as the primary factor driving significant economic growth, with an anticipated doubling of trade value to $2.1 trillion by 2030. This remarkable increase would be a significant jump from the $1.2 trillion recorded in fiscal 2023, when India’s GDP stood at $3.5 trillion. The report assumes an annual nominal GDP growth rate of 10% going forward.

 

In addition to external trade, household consumption is identified as the second major contributor to India’s economic expansion. The report projects household consumption to reach $3.4 trillion by fiscal 2030, equivalent to the current size of the GDP. In comparison, household consumption in fiscal 2023 was at $2.1 trillion, constituting approximately 57% of the GDP at that time.

 

Prime Minister Narendra Modi has repeatedly promised to position the Indian economy among the top three globally during his next term in office and achieve a GDP of $5 trillion. Currently, Japan holds the third position after the United States and China.

 

Among the states, Telangana currently leads in per capita income rankings, with ₹2,75,443 (equivalent to $3,360). Close behind are Karnataka with ₹2,65,623, Tamil Nadu with ₹2,41,131, Kerala with ₹2,30,601, and Andhra Pradesh with ₹2,07,771.

 

However, the Standard Chartered report envisions a shift in these rankings by fiscal 2030, with Gujarat projected to take the lead in per capita income, followed by Maharashtra, Tamil Nadu, Karnataka, Haryana, Telangana, and Andhra Pradesh. While the report does not disclose the names of the other three states, it suggests that they will not be among the top performers.

 

Currently, the combined contribution of Telangana, Delhi, Karnataka, Haryana, Gujarat, and Andhra Pradesh to the national GDP stands at 20%. By fiscal 2030, these states are expected to achieve a per capita GDP of $6,000. On the other hand, large states like Uttar Pradesh and Bihar are projected to have per capita income of less than $2,000 by fiscal 2023, which is still twice their current levels.

 

The growth of India’s economy will continue to be driven by the increasing proportion of the working-age population. In 2020, working-age individuals accounted for 64.2% of the total population. This figure is expected to rise slightly to 64.8% in the coming years. However, a marginal decline to 63.6% is projected by the year 2040, further decreasing to 61.1% by 2050. Despite this gradual decrease, the working-age population will continue to play a pivotal role in shaping the nation’s economic development.

Tags: Economic GrowthGDPINDIAPer capita incomeStandard Chartered Bank
Previous Post

Stuart Broad’s Retirement Tribute: Note from Yuvraj Singh

Next Post

Controversy: Indian’s Alleged Marriage in Pakistan

Related Posts

Priyanka Gandhi speech in inauguration ceremony of the ATTOI Tourism Convention Wayanad

Priyanka Gandhi speech in inauguration ceremony of the ATTOI Tourism Convention Wayanad

March 30, 2025
Maha Kumbh 2025 Sees Record 600 Tons of Floating Waste Recycling, Offers Lessons for Many

Maha Kumbh 2025 Sees Record 600 Tons of Floating Waste Recycling, Offers Lessons for Many

March 11, 2025
PM Shri Narendra Modi Inaugurates Namo Hospital in Silvassa

PM Shri Narendra Modi Inaugurates Namo Hospital in Silvassa

March 10, 2025
World Animal Protection Approaches Prime Minister to Prevent Elephant Transfer to Delhi from Assam

World Animal Protection Approaches Prime Minister to Prevent Elephant Transfer to Delhi from Assam

October 19, 2024
Quality control order (QCO) regulating footwear imports has been extended till 1 August 2024

India Mandates ISI Mark on Foreign Luxury Shoes

March 31, 2024
The inflated Uber ride bill “did not include a Goods and Services Tax (GST),” the viral post claimed.

Noida Man Receives Rs. 7.66 Crore Uber Bill for ₹26 Auto Ride

March 31, 2024
Next Post
Controversy: Indian's Alleged Marriage in Pakistan

Controversy: Indian's Alleged Marriage in Pakistan

Recent News

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

May 29, 2025

Digital Gold vs Physical Gold : Which is Better

May 14, 2025
Truecaller Introduces Scamfeed : A User-Powered Defense Against Scams

Truecaller Introduces Scamfeed : A User-Powered Defense Against Scams

April 29, 2025
TVS Motor Company Unveils the Upgraded TVS Apache RR 310 with Advanced Features

TVS Motor Company Unveils the Upgraded TVS Apache RR 310 with Advanced Features

April 26, 2025
Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

April 22, 2025
What Indian Car Lovers Can Expect from the VinFast VF 6

What Indian Car Lovers Can Expect from the VinFast VF 6

April 17, 2025
  • ABOUT
  • CONTACT
  • PRIVACY
  • ADVERTISE
  • Hindi – हिंदी
FOLLOW US

© Ganga News Today

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
DTV
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • TECHNOLOGY
  • LIFESTYLE
  • SPORTS
  • FASHION
  • HEALTH
  • PEOPLE

© Ganga News Today

Go to mobile version