Equirus Proposes 20-Step Reform Agenda for India's $20 Trillion Economy Goal
· Business · Times of India, Moneycontrol, NDTV
India could reach a $20 trillion economy by 2036 if it achieves 14.2% annual rupee growth and sustains a 3-3.6% currency appreciation, according to a report by brokerage firm Equirus. The current economy is valued at approximately $3.7 trillion, requiring an annual nominal dollar growth rate of 18% to meet the target. The report identifies services as the primary engine for this expansion, suggesting the sector's contribution to GDP must rise from 54% to over 65%. To facilitate this growth, the brokerage has proposed 20 reforms covering capital markets, tax structures, and human capital. Proposed measures include listing the Railways, creating an Indian sovereign fund, and bringing fuel under the GST regime.
Why it matters
The proposed reforms target significant structural changes in the Indian economy, potentially impacting corporate working capital, state-level infrastructure spending, and the education sector. These shifts are intended to accelerate India's transition toward a $20 trillion economy by 2036.
Read the original report — Times of India
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