India needs 8% growth for 30 years to join middle-income countries: World Bank

India needs to push land, labour and financial sector reforms and improve the competitiveness of exports to achieve higher growth. The World Bank projected the $2.5 trillion Indian economy could grow at 7.3 percent and 7.5% in the next two years, helped by tax reforms and benign global growth.

[bekaradami]

30 years 8% growth seems tough target. But China has done, India can also if the govt. & People are serious about this goal.

[PoliticalMatter]

These are all the things because of uneducated Nehru family policies. They are so short sighted.
Modi has taken lead to improve conditions and is bringing necessary economic changes. We are lagged 15 years behind China. That's huge

[ashikaraut]

41 years of Communist policy ruined india until 1991 when India liberalized and adopted market based opened economy .even Communist China liberalized their economy in 1979 after mao but india took 12 more years to understand failure of Communist policy.
Now wion wants india to grow at 8% which is difficult .if we would have grew 5-7% avg. In those 41 years, India might now become middle income class economy.

[Chronicler]

This target has "jumla" written all over it

[nagarkotiprashant]

Well I don't know what is source of this report but India is already lower middle income country it will become upper middle income before 2030 upper middle income starts at 3950 USD we are at 2100USD 8% over30 years considering 7 % per capita increase will make per capita income to 16800 USD without counting currency appreciation or inflation that may add that will be enough to become high income country ...which is above 12000 USD

[shauryasahu]

Middle income trap is bigger problem. We still have 10 years if we start now, else we will be like Brazil

[rahulm]

how about india starts growing 30% and overtake china in 2 years? in many states india is actually growing at an extremely fast pace. other states are being dragged along. the current 8% are just an average of 1 billion ppl. dont underestimate the dynamics of indian society when they adopt best practise mentality which they do already have.