India’s economy, currently valued at $4 trillion, is expected to grow to nearly $30 trillion by 2047, driven by strong demographic advantages and ambitious development plans.
At a session held alongside the International Air Transport Association (IATA) event in New Delhi, it was noted that India benefits from one of the youngest populations globally. While much of the Western world is ageing along with countries like Japan and China, India’s average age is just 28. Even by 2047, that figure is projected to be around 35, positioning the country as a dynamic, youthful workforce hub.
The vision for India’s future includes major urban and infrastructure expansion:
- Around 5 million people are expected to enter the urbanisation process each year, creating a need for 500 new cities.
- Over the next five decades, building the equivalent of two new Americas or a city the size of Chicago every five years will be essential.
- India also plans to scale up its aviation network by expanding from over 150 operational airports to 400.
A globally competitive aviation sector is seen as key to this growth. Indian airlines with wide-body aircraft are expected to compete on long-haul routes with established global players like Emirates and Qatar Airways, underlining a commitment to open-market competitiveness.