India 2047 and the middle income Trap

India aims to transition from a lower middle-income country to high-income status by 2047, coinciding with the centenary of its independence. This ambitious goal requires overcoming what economists call the “middle-income trap”—a situation where a country can no longer compete in low-cost, labor-intensive industries due to rising wages but also struggles to scale up productivity in higher-value sectors.

The key challenge lies in achieving sustained productivity growth across industries and services while ensuring the necessary institutional and policy reforms. Without these changes, India risks stagnating at its current income level, unable to generate the broad-based economic transformation required for long-term prosperity.

In this webinar, keynote speaker Indermit Gill, along with Mario Pezziniand Sergio Lugaresi, will discuss these issues in depth. The discussion will also draw on insights from the recently published World Bank report (India Country Economic Report), exploring the policy pathways and structural adjustments necessary for India to reach its high-income aspirations.