How rich must a country be to count as “developed”? The question is preoccupying India’s government, which wants India to attain the status by 2047, the 100th anniversary of its independence from Britain. Narendra Modi recently suggested the government was aiming for a $10trn economy by the centenary year. That was a retreat by the prime minister from earlier rhetoric. In 2022 Piyush Goyal, the commerce minister, aimed for a $30trn economy, a goal echoed by NITI Aayog, the government’s in-house think tank.
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