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Article

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During a recent visit to Mumbai and New Delhi I attended two major conferences on India’s economy. A report, commissioned by the Asian Development Bank, India 2039: An affluent society in one generation, formed the basis of the Mumbai discussion. The focus of the report was on how India would be able to make the transition from a low-income country to an affluent society within a generation if it was able to maintain and accelerate an annual average growth rate of 9.5 per cent over the next 30 years. According to the report’s projections the Indian economy would increase by a factor of 19 to reach $20tr from the current $1tr with a per-capita income rising from $1,000 to $16,000 by 2039.

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Dawn

Publication Date

7-12-2009

Pages

1-3

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