New Delhi, June 21 -- India has overtaken several economies in terms of GDP over the past decade, but its citizens' per capita income remains poor. In that context, a report by Llama Research suggested that the next phase of India's growth must translate into individual prosperity.

Manufacturing scale-up, digital formalisation, and rising income tiers are some of the reasons that are at India's advantage.

Noting that India ranks the lowest on per capita income among the top 10 economies, Llama Research asserted, "This isn't a flaw, it's a window of compounding potential."

Tech savvy population, solid policy, room for long-term capital formation, and macro stability are some other positives for India, according to the report.

"India is...