Rangarajan further said in order to reach the level of an upper middle-income country, it will take another two years and to be classified as a developed country, the per capita income will have to be at a minimum of USD 13,205 and that will take more than two decades of strong growth of between 8 to 9 per cent to achieve it.

from Times of India https://timesofindia.indiatimes.com/business/india-business/with-8-9-growth-it-takes-20-yrs-for-india-to-become-developed-nation-ex-rbi-chief-c-rangarajan/articleshow/96472853.cms