India’s per capita income likely to touch $4,000 by 2030: SBI Report

New Delhi: Better roads, more jobs, and better opportunities than before, this is the story of a modern and developing India. This progress has been now stamped by a recent SBI research that says India’s per capita income could reach $4,000 by 2030.

The research further highlights that if this happens, India would move into the upper-middle-income category, joining countries like China and Indonesia.

After Independence, it took nearly six decades for India to become a $1 trillion economy. But once that milestone was reached, growth picked up speed. India crossed $2 trillion in 2014, moved past $3 trillion in 2021, and entered the $4 trillion club in 2025, achieving this last jump in just four years.

Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor at the State Bank of India (SBI), said, “India could become a $5 trillion economy within the next two years, which would further strengthen its position on the global stage.”

Capturing the trends, the research report says that this growth is also visible in people’s incomes. In 2009, India’s per capita income reached $1,000. By 2019, it doubled to $2,000. If current trends hold, it is expected to rise to $3,000 by 2026 and $4,000 by 2030.

Over the past ten years, India has also improved its standing in global economic growth rankings, moving from the 92nd to the 95th percentile in real GDP growth, a sign that the country is growing faster than most others.

The research syncs with the government’s Viksit Bharat 2047 vision that aims to make India a high-income country by 2047. Today, a country is considered high-income if its per capita income crosses about $13,936. To reach this target, India would need steady and strong growth, better productivity, and consistent reforms.

If the global benchmark rises further to around $18,000, the challenge will be even bigger. India would need faster growth, smart policies, and continued investment in education, technology, and infrastructure.

SBI Research estimates that India must maintain around 11.5 per cent nominal GDP growth every year for the next 23 years to achieve its long-term goals.