Have you ever imagined what India will look like 20 years down the line?
From the start of this Millennia, India is growing in stature and every country in the world is noticing it. Do you know the reason why India is becoming a force to reckon with ?
Just for a comparison sake, I look at India as a startup – A startup whose time has come to make it big. Right now people are noticing the smaller achievements here and there. It is slowly coming on everyone’s radar and they are slowly understanding its potential – They understand the role India is going play in tomorrow’s world.
The key to India’s growth will be its growing Middle class population – primarily the population that is moving from Rural India to Urban India. McKinsey Global Institute has some out with a report called “India’s Urban Awakening” which gives you some numbers on where India can potentially be 20 years down the line on back of rapid pace of urbanization that India is witnessing.
India’s population will reach 1.47 billion with around 40% urbanization – That means close to 590 million will be living in cities.
5 states in India will have more than 50% of their population living in cities – Tamil Nadu, Gujarat, Maharashtra, Karnataka & Punjab
India’s scale of urbanization will be immense – India will have 68 cities with population more than 1 million, 13 cities with more than 4 million people and 6 megacities having population more than 10 million residents !
Per Capita Income Increase
The per capita income will see a four-fold increase over next twenty years – From an average per capita income of 35000 rupees to 1,36,000 rupees by 2030.
There are many other interesting numbers in the report prepared by MGI, you can download the report from here.
Now, these are achievable – infact, India can even have accelerated growth, but the key to all this growth is also the investment that need to go into facilitating this growth – The report says that India will need a whooping 1.2 trillion USD investment in next 20 years, especially in infrastructure.
Close to 2.5 billion sq. mtrs of road and 7,400 kms of metros and subways will have to be build over the course of next 20 years.
We are lucky to be in India right now and witnessing this frantic pace of growth !