India Can be a $55 Trillion Economy by 2047 with Krishnamurthy Subramanian Executive Director IMF

In 1947, India gained independence with a per capita of around $2000(adjusted with inflation).But over the next few decades, the govt adopted socialist policies, emphasising self-sufficiency and state-led development. As a result, India’s economy grew at a slower pace of 3.5% per year.In 1991, India introduced a series of reforms— liberalisation, privatisation, and globalisation. India’s growth rate picked up, and by 2023, India’s per capita GDP was back to $2,600, driven by market-friendly policies and increased global trade.In this episode of the NEON Show, Krishnamurthy Subramanian, Executive Director at the IMF, explains how India can become a $55 trillion economy by 2047.To learn more read India @100 : Envisioning Tomorrow’s Economic Powerhouse  Connect with Krishnamurthy Subramanian Linkedin |  Twitter---------Timestamp01:20 – The power of compounding in GDP04:55 – Chess game story that explains the power of compounding06:19 – Rule of 72 to understand how money doubles09:06 – How India will become a $55 trillion economy by 204712:33 – Thalinomics to understand inflation14:20 – What is money in economic terms?17:22 – Why was the inflation-targeting regime introduced post-1991?20:30 – Inflation's effects on currency26:42 – How does a currency react to economic shocks?30:34 – India’s GDP in 1947 vs today31:28 – How socialist policies potentially held India back34:40 – Capitalism has always been in India's DNA44:31 – How socialist policies have hurt Indian farmers57:22 – Is agriculture a state subject?59:59 – How India's growth is linked to productivity01:09:30 – China’s GDP vs India’s GDP01:16:48 – Why India is a top investment destination01:26:10 – Indian startups should innovate differently-------------Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys. Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.-------------Follow Neon:Website | Instagram | LinkedIn | TwitterConnect with Siddhartha:LinkedIn | Twitter ------------Sponsor shout outLooking to build a differentiated tech startup with a 10X better solution? Prime is the high conviction, high support investor you need. With its fourth fund of $120M, Prime actively works with star teams to accelerate building great companies.To know more, visit primevp.in------------This episode is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us Fan Mail