News > India may take 75 years to reach one-quarter of US income per capita: World Bank
India may take 75 years to reach one-quarter of US income per capita: World Bank
02/08/2024 08:15 PM | Click to read full article
More than 100 countries, including India, face serious obstacles in becoming high-income countries in the next few decades. It will take China more than 10 years to reach one-quarter of US income per capita and Indonesia nearly 70 years, according to the World Development Report 2024: The Middle Income Trap. The report finds that as countries grow wealthier, they usually hit a "trap" at about 10% of annual US GDP per person - the equivalent of $8,000.
