'GDP set to rise 4-fold by 2020'

MUMBAI: The Indian economy is set to become four times its current size in the decade to 2020, with the gross domestic product (GDP) spurting to over $4 trillion (about Rs 205 lakh crore at present exchange rate) and per capita income rising to $3,213 from $1,017 now. During these ten years, annual incremental savings will also jump nearly four times to Rs 72 lakh crore from Rs 19 lakh crore now, a report published by domestic broking major Edelweiss Capital said.

‘‘ Driven by a nominal annual growth rate of 13%, India's GDP is set to quadruple over the next ten years and the country is likely to be a Rs 205-lakh-crore economy by 2020,'' the Edelweiss report , titled ‘India 2020: Seeing , Beyond' , which was presented to FM Pranab Mukherjee recently and released on Wednesday, said.

The report focuses on three super themes -- financial services, private domestic consumption and infrastructure , all of which are estimated to grow by over four times during the decade under consideration.