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India needs to grow at a sustained pace of 7-10% for 20-30 years to escape the middle-income trap and become a developed nation with a per capita income of $18,000 per annum and the size of a $30 trillion economy by 2047 when the country celebrates its centenary anniversary of independence, the NITI Aayog (National Institution for Transforming India) said in an approach paper summarising its vision for 'Viksit Bharat'.

"The GDP would have to grow 9 times from today's $3.36 trillion and the per capita income would need to rise 8 times from today's $2,392 per annum," the government's think tank said after its 9th Governing Council meeting attended by chief ministers and lieutenant governors.

PM Modi, while addressing to the governing council of NITI Aayog, said, "India is a youthful country. It is a huge attraction for the entire world because of its workforce. We should aim to make our youth a skilled and employable workforce. Emphasis on skill, research, innovation and job-based knowledge is necessary for making 'Viksit Bharat'."

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