India will be superpower by 2047, but not high-income economy: Martin Wolf

India is expected to become a superpower but not a high-income economy by 2047, said Martin Wolf, chief economics commentator of Financial Times on Friday. According to the economist, the global economic slowdown and a shock-prone, fragile world are making it difficult for India to rise to a high-income economy.
“I don’t think it is plausible, but it is feasible. To do it, India will have to do something pretty close to what China did in the 20 years leading up to 2012. Even if it doesn’t, and merely continues on its present track, India is likely to become, by most definitions, a superpower by the middle of the century,” Wolf said in a talk titled "What would it take for India to become a developed country by 2047."

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