NEW DELHI: G20 Sherpa Amitabh Kant predicts that India, which is on track to become the third largest economy in the world, would propel 20 per cent of global economic growth over the next decade. “In the next three years, we will overtake Japan and Germany to be the third largest economy in the world. In a world which is starved for growth, India is an outlier and has emerged as a very resilient powerhouse driving growth,” he stated.
He pointed out that India, which is now the world’s fifth-largest economy, is the fastest-growing large economy in the world. He said that the change in our economic position today is a once-in-a-generation shift . “We were among the fragile five only a few years ago, and in just ten years, we moved to the top five,” he added.
In order for the nation to become developed by 2047, he stated that it must enhance nutritional standards, health outcomes and the lifestyles of those living in rural areas. “If India is to grow at 9-10 per cent over the next three decades and become a developed economy by 2047, we need to improve our learning outcomes, our health outcomes and nutritional standards in a very big way,” he said.
According to him, the top 50 per cent of Indians are the ones who genuinely spur prosperity and growth. Additionally, the bottom 50 per cent of people mostly reside in rural areas and depend on government assistance programs or wage work in agriculture to maintain a minimal level of living. “It is important that we transform the lives of these people to the bottom 50 per cent,” he noted.
Kant stated that for India to thrive in the future, it needs a number of champion states, which means states including Bihar, Jharkhand, Chhattisgarh, Rajasthan and Madhya Pradesh, which account for almost 50 per cent of the country’s population, need to be transformed.
Source: The Financial Express
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