India is slowly but steadily moving up the global ladder. With a 7 percent growth forecast for 2022, the country's economy, at $3.5 trillion, has overtaken that of the United Kingdom in terms of size and is now the fifth largest in the world. By 2027, it will move a notch up to number 4, according to the International Monetary Fund.
But with a population 20 times that of the UK, India's per capita GDP is significantly lower. India's annual per capita income at constant prices was at Rs 91,481 in 2021-22, which was below the pre-COVID level, government data shows.
But for market veterans, it is not much of a bother as they are betting big on India's consumption story. The number will only go up from here, they reason.
"We came from $300 billion to $3 trillion in the last 30 years. If I take an extra tier bet, we can go from $3 trillion to $30 trillion over the years, and obviously, our per capita will also go up in the timeframe," founder of MK ventures Madhusudan Kela said during Moneycontrol's Muhurat Roundtable.
But with a population 20 times that of the UK, India's per capita GDP is significantly lower. India's annual per capita income at constant prices was at Rs 91,481 in 2021-22, which was below the pre-COVID level, government data shows.
But for market veterans, it is not much of a bother as they are betting big on India's consumption story. The number will only go up from here, they reason.
"We came from $300 billion to $3 trillion in the last 30 years. If I take an extra tier bet, we can go from $3 trillion to $30 trillion over the years, and obviously, our per capita will also go up in the timeframe," founder of MK ventures Madhusudan Kela said during Moneycontrol's Muhurat Roundtable.
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