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The latest World Bank 2024 report, titled 'World Development Report 2024", states that India will take 75 years to reach a quarter (14) of the United States' GDP.

It comes right after NITI Aayog stated last week that India needs sustained growth of 7 to 10 per cent for 20 to 30 years to become a developed nation with a per capita income of $18,000 per annum and a $30 trillion economy by 2047.

Conveniently, the latest World Bank report outlines guidelines to help developing countries overcome the "middle-income trap".

It also identifies challenges faced by over 100 countries, including India, China, Brazil, and South Africa, in achieving high-income status in the coming decades.

According to the World Bank, economic growth in middle-income countries like India is continuing but slowing down as incomes increase. The observed growth rates do not exceed those in high-income countries by the margins needed to catch up in one generation or even two or three.

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