According to a report, Indian economy is likely to reach USD 5 trillion by 2025, as India's millennial population is a massively disruptive force and driven by this supportive demographics along with government's policy action.
In the terms of nominal GDP India's USD 2.2 trillion economy makes it the 'seventh' largest in the world, but the country's per capita income is less significant.
In some of the key emerging markets like China, Russia, Brazil, Indonesia, the Philippines, Mexico and Turkey- India ranked well behind with the per capita income of USD 1,700.
Morgan Stanley said in a research note that "We expect a confluence of supportive factors, led by demographics, government policy action, and globalisation, to lead to a sustained period of productive growth in the medium term, in our base case - we expect the Indian economy to reach USD 5 trillion by Fy 2025."
The report also noted that "The next leg of harnessing this young and better-skilled population would require the creation of adequate employment opportunities, which is an opportunity and a challenge for India."
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