NITI Aayog Chief Executive Officer (CEO) BVR Subramaniam on Wednesday said 'developed India' is not just a dream but a possibility and according to most estimates, India will become a $30 trillion economy by 2047.

Addressing the 10th Vibrant Gujarat Global Summit, Subramaniam said that India is in a position to take a giant leap. He said, "Developed India is not just a dream, it is a possibility." He said that a vision document is being prepared to make India a $30 trillion developed economy by 2047 and the Prime Minister will release it by the end of January.

"According to most estimates, India is going to be a $30 trillion economy by 2047," Subramaniam said. He said that if all the states become 'vikshit' (developed) then the nation can also become developed. NITI Aayog CEO said that there has been massive expansion in physical and digital infrastructure in India.

He said, 'India is performing better than other emerging economies.' He said that this is an important turning point in the history of the country. In 2023, NITI Aayog was tasked to transform 10 regional thematic approaches into a combined vision for a Developed India @2047. Developed Bharat@2047 is the vision of making India a developed nation by the 100th Independence Day of the country i.e. by 2047.

This vision covers various aspects of development including economic growth, social progress, environmental sustainability and good governance. India is the fifth largest economy in the world after America, China, Japan and Germany. The growth rate of the Indian economy is estimated to be 7.3 percent in the current financial year, which is higher than 7.2 percent in 2022-23.