This paper uses the vantage point of the latest available macroeconomic data to study the dynamics of India's recent growth spurt, its current slowdown and the implication that has for its future prospects. In making the projections for circa 2050, it factors-in certain evolving trends in the economy that have gained momentum in the past decades. The paper highlights the imperative of growth centrality for India's future development strategy and outlines the contours of the three broad transformations namely social, political and economic that underpin the future scenario. It goes on to elaborate briefly the required economic reforms for realising outcomes consistent with the projected ambitious growth scenario for India.