India in the direction of development! With per capita income reaching $4000 by 2030, these states will be at the forefront

India's economy is progressing day by day to achieve the five trillion economic target. India's economy has become the fifth largest economy in the world. A recent study has also revealed that India's per capita income will increase by 70 percent to reach $4,000 by FY2030, which is $2,450 per capita in FY2023. Due to this, the GDP of India will also get a big boost and it will reach around 6 trillion dollars. Over half of India's GDP will come from domestic consumption during this period.

Rapid growth in India's per capita income

India's per capita income has grown rapidly over the past 20 years. It was $460 in 2001, which increased to $1,413 in 2011 and $2,150 in 2021.

Growth of Indian economy based on exports

In a report presented by Standard Chartered Bank, India's exports will rapidly boost the country's economy in the coming years. It is projected to grow from $1.2 trillion in fiscal year 2022-23 to $2.1 trillion by 2030. While the size of India's economy was 3.5 trillion dollars. Domestic consumption in India will also grow rapidly during this period and will reach $3.4 trillion by 2030, up from $2.1 billion in FY 2022-23, the report added.

India will soon become a 5 trillion economy

Last week, Prime Minister Narendra Modi said he would ensure that the economy becomes a $5 trillion economy during his next term, making it the third largest economy in the world after the US and China. Currently, Japan is ranked third and Germany fourth.

These states will be at the forefront

The report said that India is fast emerging as an upper middle income country. By 2030, 20 percent of the country's GDP will come from Telangana, Delhi, Karnataka, Haryana, Gujarat and Andhra Pradesh, and the per capita income of these states will be close to $6000 by 2030. UP and Bihar are home to 25 percent of the total population of the country. There, even after 2030, per capita income will remain below $2000.