New Delhi: India’s millennial population is a massive disruptive force and driven by this supportive demographics along with government’s policy action, Indian economy is likely to reach $5 trillion by 2025, says a report. India’s $2.2 trillion economy makes it the seventh largest in the world in terms of nominal GDP (and the third largest in PPP terms), but the country’s per capita income is less significant. By financial year 2024-25, Morgan Stanley expects per capita income to rise 125% to $3,650. The report, however, noted that the demographics factor alone is not sufficient for an acceleration in GDP growth. It is important that the working age population is adequately skilled to participate in a globalised competitive environment.

Source: Mint February 21, 2017 10:02 UTC