SBI Report Projects India as Upper-Middle Income Country by 2030 and Third Largest Economy by 2028

According to an SBI Research report, India is projected to become an upper-middle income country by 2030, with its per capita gross national income expected to reach around USD 4,000. The report also forecasts India will become the world's third-largest economy by 2028, surpassing the USD 5 trillion GDP mark within about two years. India's economic growth has accelerated in recent decades, moving from low-income status in 1962 to lower-middle income in 2007, with continued progress expected toward high-income status by 2047, contingent on sustained growth rates.