India's Financial Services need to grow 20X to achieve $30 trn GDP by 2047: BCG-FICCI-IBA report

Mumbai (Maharashtra) [India], September 5 (ANI): A 20-fold increase in the financial services sector is needed for India's goal to achieve a USD 30 trillion GDP by 2047, according to a report titled "Banking for a Viksit Bharat," released by Boston Consulting Group (BCG) in association with FICCI and the Indian Banks' Association.

The report estimates that banks will need a capital base of USD 4 trillion, with one-third o