According to a research conducted by employees of the Reserve Bank of India, for India to achieve developed status by 2047–2048, real GDP must rise at a rate of 7.6% annually over the following 25 years, increasing its per capita GDP from its current level of $2,500 to $20,000 per year.
Investment in physical capital is necessary for sustained development, along with thorough reforms in the fields of education, infrastructure, healthcare, and technology to increase productivity.
The World Bank categorises a nation as high-income if its per capita income is $13,205 or higher in 2022–2023. This transition must be driven by cooperation between the public and business sectors, civic society, and the general public.