As start growing, this would be a natural outcome. Look at china and US. Bloody they can get everything very cheaply from international market. Imagine petrol available at Rs 15 or 20 a liter and computer available at Rs 5000 to 1000. Looking to our manpower, we need to emerge as the knowledge...
DO you know how chinese economy of 2 BN USD grew five fold in 10 years from 2 bn USD to 10 BN USD. The major factor was yuan appreciation and not growth. We can not be a major economy without rupee getting strong...
Here what you forget to consider is the Rupee value against USD. Since the Rupee is highly undervalued to the factor 4, it is likely to go high very rapidly over next 15 years.
Here is my estimate. GDP growth 7% and Rupee appreciation 5%
year GDP TR USD Defense Budget Bn USD
At 7% growth...