New Delhi, Feb. 28 -- The World Bank on Friday said India will need to grow by 7.8 per cent on average over the next 22 years to achieve the country's aspirations of becoming a developed country by 2047.

A new World Bank report released on Friday finds that this target of India is possible. Recognizing India's fast-paced growth averaging 6.3 per cent between 2000 and 2024, the report notes that India's past achievements provide the foundation for its future ambitions.

Getting there however would require reforms and their implementation to be as ambitious as the target itself, the World Bank said in a statement, soon after unveiling the report.

"Lessons from countries like Chile, Korea and Poland show how they have successfully made the...