In response, Amitabh Kant clarified the standards by which a nation’s level of progress is assessed.
When asked why India, one of the top five economies in the world, is still considered a developing country rather than a developed one, former CEO of NITI Aayog Amitabh Kant provided an explanation. “My question is simple, and the question is why India is still not regarded as a developed nation but a developing nation despite being in the top five economies of the world. @amitabhk87,” Amitabh Kant was questioned on X, the old Twitter.
In response, he clarified the standards by which a nation’s level of progress is assessed. “Technically, a developing country is one where the gross national income per capita is $11,905 or less,” he clarified. Malaysia, Brazil, and China are also considered developing nations.”
This coincides with Jefferies’ prediction that India’s GDP will top $5 trillion in the next four years, overtaking that of Germany and Japan. It stated that by 2027, India’s GDP will rank third globally and that by 2030, the country’s stock market will have grown to around $10 trillion, making it “impossible” for major international investors to ignore India.
According to Jefferies, India’s GDP is expected to reach $5 trillion in the next four years, surpassing Germany and Japan to become the third largest economy by 2027. The country’s rapid economic growth can be attributed to factors such as a stable labor supply, improving institutional strength, and improved governance.
