India targets $55 trillion economy by2047 through AI, manufacturing, FDI and sunrise sectors

India aims to become a $55 trillion economy by 2047, leveraging its youthful population, artificial intelligence advancements, and expanding manufacturing sectors, according to the Chief Economic Adviser Krishnamurthy V Subramanian. During the India 2047 Leaders TALK, Subramanian emphasized that maintaining an 8% real GDP growth, combined with strategic capital investment, would generate exponential value across key economic areas.

He stressed that achieving this milestone is attainable through compounding growth, ethical wealth creation, and bold structural policies.

Subramanian highlighted the crucial role of attracting high-quality Foreign Direct Investment (FDI), bolstering world-class electronics and industrial manufacturing within global value chains, and nurturing a highly skilled workforce proficient in Artificial Intelligence (AI). By advancing high-value manufacturing, utilizing its vast young demographic in AI, and establishing dominance in sunrise sectors such as space and defense technology, India aims to not only expand its economic influence but also provide a robust economic framework for the modern world.

The International Monetary Fund's (IMF) World Economic Outlook, released in April 2026, reports India's nominal GDP at $3.92 trillion in 2025-26, placing it as the sixth-largest economy globally. Subramanian also pointed out that India's strategic entry into high-barrier frontier industries, such as defense manufacturing, dual-use technology transfer, and commercial space technology, is essential for achieving technological self-reliance, strengthening national defense capabilities, and boosting high-value exports.

Additionally, the Reserve Bank of India (RBI) forecasts India's growth rate at 6.7%, driven by strong domestic demand, manufacturing, services, and exports, despite global risks stemming from the conflict in the Middle East and trade tensions.