New Delhi, May 11 -- India's ambition to achieve high-income status by 2047 will depend less on national-level macro policy alone and more on how effectively states craft and execute growth strategies tailored to their local strengths, the Reserve Bank of India's Deputy Governor Poonam Gupta said in a speech at the Columbia Indian Economy Summit 2026 on Monday. She argued that sustaining or exceeding recent growth trajectories requires "extending our growth frameworks at the subnational levels," with policy priorities differing sharply between above-median and below-median states.

Gupta projected that if the growth patterns of the past two decades are sustained, "the average state per capita income could approach high-income thresholds b...