New Delhi: India is set to contribute a staggering 20% to the world’s total growth over the next decade, according to Amitabh Kant, G-20 Sherpa and former CEO of NITI Aayog. Speaking at the AIMA conference, Kant outlined India’s bright economic prospects, as it moves towards becoming the third-largest economy globally, overtaking Japan and Germany.
Kant highlighted that India remains the fastest-growing large economy in the world and is currently ranked as the fifth-largest. “In the next three years, we will surpass Japan and Germany to become the third-largest economy in the world,” Kant stated. “As the global landscape looks for new avenues of growth, India has emerged as a driving force,” he added.
Transformational Decade Ahead
The G-20 Sherpa described the current period as a “once-in-a-generation” opportunity for India to transform its economic landscape. He emphasised the importance of uplifting the rural population, improving healthcare, and raising nutritional standards to achieve the country’s ambition of becoming a developed nation by 2047.
To sustain long-term growth, Kant stressed the need for “champion” states that will drive India’s future progress. He argued that for India to maintain a growth rate of 9-10% over the next three decades and achieve developed nation status by 2047, significant improvements are required in education, healthcare, and nutrition.
The Role of Key States in India’s Growth
Kant underscored the necessity for states such as Bihar, Jharkhand, Chhattisgarh, Rajasthan, and Madhya Pradesh to spearhead the transformation. These states account for nearly half of the country’s population and must become central to efforts to improve the Human Development Index (HDI). “Changing these states is crucial,” he said. “They must become the main architects of improvement in the Human Development Index.”
He further noted that India’s top 50% of the population drives growth and prosperity, while the bottom 50%, largely residing in rural areas, rely on agricultural labour or government welfare schemes for a basic standard of living. “It is vital that we uplift the lives of these people,” Kant remarked, highlighting the need for inclusive development to achieve national growth targets.
Roadmap to a Developed Nation
As India gears up for its ambitious journey to become a developed nation by 2047, Kant’s remarks offer a clear vision of the areas that require focused attention. From educational reforms to healthcare enhancements and nutritional improvements, India’s path forward involves comprehensive development strategies that encompass both urban and rural areas.
India’s transformative economic journey will require the concerted efforts of its states, policymakers, and citizens to realise its full potential as a global growth engine. As Kant optimistically projected, the world can expect to see India playing a pivotal role in shaping the future of the global economy.
Comments are closed.