GDP: Indians Set to Experience a 70% Surge in Per Capita Income | Business News

By 2030, the per capita income of Indians would increase by 70%, predicts a Standard Chartered Bank analysis. As a result, the GDP of the nation will also benefit greatly. Additionally, it is anticipated that exports would expand quickly.

Nearly Double by 2030

From $460 to $1,413 per person, per capita income increased in 2011. Additionally, this will assist India in achieving a middle-income economy with a $6 trillion GDP. The main factor accelerating economic growth will be foreign commerce. By 2030, it is anticipated to nearly double to $2.1 trillion.

Domestic consumption will expand quickly during this time, according to the analysis. By 2030, 20 percent of GDP is predicted to come from Telangana, Delhi, Karnataka, Haryana, Gujarat, and Andhra Pradesh. This means that domestic consumption will account for 50 percent of GDP. These states' per capita income in 2030 will be $6000. However, the heavily populated states of Uttar Pradesh and Bihar will continue to have per capita incomes below $2000.