An Ernst and Young report projects India's economy to reach $26 trillion by 2047-48, with per capita income exceeding $15,000. The report attributes this growth to economic liberalization, a market-oriented approach, and increased private capital, making India more competitive globally. India is expected to become the third-largest economy by 2030, surpassing Germany and Japan. Strong services exports, particularly in IT and BPO, driven by Indian and global companies leveraging skilled Indian talent, are key enablers.