Viksit Bharat 2047: India’s roadmap to become a developed nation - opinion

India's goal of becoming a developed nation by 2047 requires significant economic growth, with GDP needing to rise from $4.5 trillion to at least $10 trillion. The article emphasizes increasing foreign trade and FDI, implementing deep-seated reforms, and focusing on inclusive growth, job creation, education, healthcare, and sustainable development.

India has set a goal to become a developed nation, or Viksit Bharat, by 2047, the 100th anniversary of its independence. The article, written by a former Indian ambassador, argues that while India is the fourth-largest economy by GDP, its current GDP of $4.5 trillion is insufficient for a population approaching 1.5 billion. To achieve developed status, GDP must grow to at least $10 trillion. This requires increasing India's share of global exports from around 2% to 10%, and growing FDI, which was just short of $100 billion last year. The government must implement deep-seated economic reforms in land, labor, power, agriculture, infrastructure, and regulatory areas. Growth must be inclusive, reaching the downtrodden, and job creation for youth must become a national priority. The article emphasizes the need for skilling and re-skilling graduates, increasing education spending, and promoting entrepreneurship. It also highlights challenges in healthcare, including rising costs and chronic disease burden, and advocates for a low-carbon pathway to development, unlike industrialized countries or China. The next 20 years are deemed crucial for India's transformation.