India to become largest financially prosperous country by 2060: RBI Deputy Governor Michael Patra

Attending Azadi Ki Amrit Mahotsav programme in Bhubaneswar, Patra said, “India will become the second largest economy in the world not by 2048 as predicted earlier, but by 2031.

Michael Patra

Deputy Governor of Reserve Bank of India, Michael Debabrata Patra has predicted that Indian economy will see a manifold increase and will, therefore, be largest financially prosperous country in the world by 2060.

Attending Azadi Ki Amrit Mahotsav programme in Bhubaneswar, Patra said, “India will become the second largest economy in the world not by 2048 as predicted earlier, but by 2031.

Even if it does not sustain this pace and slows to 4-5 per cent in 2040-50, it will become the largest economy of the world by 2060. India will surpass China by 2060.” 

He further quoted the Organisation for Economic Co-operation and Development, 2021 calculations saying that the Indian economy will overtake the US by 2048. 

This would make India the largest economy in the world after China. "In order to achieve it, we should clear obstacles pertaining to economy," said the Odisha-born top RBI official.