G20 Sherpa Amitabh Kant claims India to become a 30 trillion dollar economy by 2047

India's economy is expected to be worth 30 trillion dollars by 2047. G20 Sherpa Amitabh Kant made the statement on Monday at the International Air Transport Association (IATA) conference. He said that the size of India's economy is currently 4 trillion dollars, and it is expected to be 30 trillion dollars by 2047.

He said that the country will also benefit from the young demographics. The western part of the world is getting older, and Japan has already become old. Even China is getting older. While India's age is only 28 years and even when we become 100 years old, the average age will still be 35 years. This is the country of baby boomers.

Kant said that we have recently become the fourth-largest economy in the world. He stressed sustainable urbanization and said that about 50 lakh people in the country will join the process of urbanization. There will be a need to build 500 new cities in India. He said that two new Americas need to be built in the next five decades. 

India needs to build a Chicago every five years. This is the challenge for India. Kant also said that India's ambition is to build 400 airports. At present, more than 150 airports are operational in the country. He said that Indigo and Air India should compete with Emirates, Qatar Airways with their wide-body aircraft. India believes in competing in the market.