New Delhi, March 21 -- India is increasingly being seen as a rising economic power, with the potential to become a wealthy nation by 2047, marking 100 years of its independence, Washington Examiner reported.

According to Washington Examiner, over the past two decades, the country has recorded strong economic growth. Since 2003, India's economy has expanded at an average annual rate of over 7%. If this momentum continues for the next 20 years, India could cross the high-income threshold, with per capita GDP exceeding $15,000 in 2025 terms. Sustained growth at this level would also help the country avoid the "middle-income trap" that has stalled economies such as Brazil, South Africa, and Turkey.

India's growth prospects are supported by ...