Target of Viksit Bharat by 2047 achievable; focus on manufacturing, services needed: Deloitte
1 month, 3 weeks ago

Target of Viksit Bharat by 2047 achievable; focus on manufacturing, services needed: Deloitte

Live Mint  

New Delhi, Jan 31 The target of India achieving the status of a developed nation, or Viksit Bharat by 2047, seems "achievable", consultancy firm Deloitte India said on Friday advocating for a sharp focus on manufacturing and services, and measures to rein in inflation. The Economic Survey 2024-25, tabled in Parliament on Friday, said India needs to grow by 8 per cent on an average for at least a decade to become a developed nation by 2047. While there's a significant ramp-up in manufacturing and services, "servicification of manufacturing" is a completely untapped region, which, if utilised rightly in the next 4-5 years, will result in "exponential impact", Majumdar pointed out. India will also need to create 78.5 lakh new non-farm jobs annually till 2030, achieve 100 per cent literacy, develop the quality of our education institutions, and develop high-quality, future-ready infrastructure at scale and speed, the pre-budget document stated.

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History of this topic

India on track to become 'Viksit Bharat' by 2047, says Kumar Mangalam Birla
4 days, 15 hours ago

India on track to become 'Viksit Bharat' by 2047, says Kumar Mangalam Birla

India Today  

Aditya Birla Group Chairman Kumar Mangalam Birla on Saturday expressed confidence in India's trajectory toward achieving Prime Minister Narendra Modi's 'Viksit Bharat' vision by 2047, while also addressing concerns about potential US tariffs under President Donald Trump. He further elaborated on the group's strategic positioning: "We don't have a situation where we have production facilities in the US which need …

India yet to spell out nature of reforms needed to achieve 8% growth to realise Viksit Bharat by 2047: Ahluwalia
1 month, 1 week ago

India yet to spell out nature of reforms needed to achieve 8% growth to realise Viksit Bharat by 2047: Ahluwalia

The Hindu  

The nature of reforms needed for India to achieve 8% annual growth for two decades to realise its vision of ‘Viksit Bharat’ by 2047 have not been clearly spelt out, Montek Singh Ahluwalia, former Deputy Chairman of the erstwhile Planning Commission, has said. Mr. Ahluwalia shared these views at a fireside chat with economist and author Salman Anees Soz on …

Survey a reminder of bumps on road to Viksit Bharat
1 month, 3 weeks ago

Survey a reminder of bumps on road to Viksit Bharat

New Indian Express  

The Economic Survey has summed up the enormous task that lies ahead if we are to be a Viksit Bharat by 2047. In the medium term, Donald Trump’s policy uncertainties are an even bigger threat to the global as well as domestic economies. With so many factors threatening to disrupt the global economy and change the world order, the survey …

Need 8% growth for two decades, deregulation, land-labour reform for Viksit Bharat 2047: Economic Survey
1 month, 3 weeks ago

Need 8% growth for two decades, deregulation, land-labour reform for Viksit Bharat 2047: Economic Survey

New Indian Express  

NEW DELHI: India needs to grow at 8 percent for up to two decades to become a developed nation by 2047, the Economic Survey said on Friday, pitching for a slew of reforms, including land and labour, to achieve the ambitious target. It further said that to achieve this growth, the investment rate must rise to 35 percent of GDP, …

India's budget will seek to propel $3.7 tn economy with AI and tech investments
1 month, 3 weeks ago

India's budget will seek to propel $3.7 tn economy with AI and tech investments

Live Mint  

As India seeks to consolidate its $3.7 trillion economy, drive sustainable growth across sectors, accelerate its digital transformation and become an artificial intelligence -first economy, finance minister Nirmala Sitharaman is expected to provide in the upcoming budget strategic policies that will drive innovation, strengthen local manufacturing, and equip the workforce for emerging opportunities. The hope is that by investing in …

Viksit Bharat needs aspirational thinking and coordinated action
4 months, 1 week ago

Viksit Bharat needs aspirational thinking and coordinated action

Live Mint  

India’s GDP growth of 8.2% in 2023-24, amid global headwinds and market volatility, is more than just an economic indicator. As we chart our course towards becoming a developed nation by 2047, Indian industry’s vision of Viksit Bharat demands aspirational thinking and decisive, coordinated actions across government, industry and all other stakeholders. Our journey towards a $30 trillion economy rests …

Goyal asks auto-component sector to achieve $100 billion export target by 2030
6 months, 2 weeks ago

Goyal asks auto-component sector to achieve $100 billion export target by 2030

The Hindu  

Union Minister for Commerce & Industry, Piyush Goyal on Monday asked the Indian auto component manufacturing sector to achieve an exports target of $100 billion by 2030 so that sector could be one of the largest job creators in the country. Stating that the Indian auto sector would soon become the world leader from currently being the third largest in …

NITI Aayog meeting: PM says only ‘Viksit’ states can make ‘Viksit’ Bharat
7 months, 3 weeks ago

NITI Aayog meeting: PM says only ‘Viksit’ states can make ‘Viksit’ Bharat

New Indian Express  

NEW DELHI: Chairing the meeting of the ninth Governing Council of NITI Aayog on Saturday, Prime Minister Narendra Modi asserted that the ambitious goal of ‘Viksit Bharat 2047’ could be realized only through the collective efforts of all states. Viksit states will make Viksit Bharat,” PM Modi said, while stressing that the vision of a developed India by 2047 was …

Budget 2024 presents a detailed, comprehensive road map for Viksit Bharat
8 months ago

Budget 2024 presents a detailed, comprehensive road map for Viksit Bharat

Live Mint  

As promised in the Interim Budget 2024-2025 by finance minister Nirmala Sitharaman, it was heartening to see the detailed and comprehensive road map for Viksit Bharat in the full budget. In fact, inspired by Prime Minister Narendra Modi’s vision, FICCI’s four priority areas, namely manufacturing, farm-led growth, women-led development and sustainability, closely mirror the thrust areas highlighted in the budget. …

Viksit Bharat 2047: A Non-Negotiable Goal in Modi 3.0
9 months ago

Viksit Bharat 2047: A Non-Negotiable Goal in Modi 3.0

News 18  

As the Modi 3.0 government commences work in earnest following its historic mandate for a third consecutive term, and as Bharat moves closer to the centenary of its independence in 2047, the vision of Viksit Bharat—a developed India—remains centre stage and non-negotiable in its policy objectives. Prime Minister Narendra Modi’s vision for ‘Viksit Bharat 2047’, while rooted in economic prosperity, …

Viksit Bharat: Prime Minister Narendra Modi’s Vision for a Developed India
1 year ago

Viksit Bharat: Prime Minister Narendra Modi’s Vision for a Developed India

News 18  

Ever since assuming office as the Prime Minister of India, Narendra Modi’s vision has extended far beyond the ordinary realms of governance to an ambitious and grand vision to create a new and developed India. Central to this is the concept of ‘Viksit Bharat’ or Developed India, a transformative vision aimed at catapulting India into the league of developed nations …

Every big chip player to re-work investment plan for India: Minister Vaishnaw
1 year ago

Every big chip player to re-work investment plan for India: Minister Vaishnaw

The Hindu  

India has set its sights on becoming a formidable force in global semiconductor equation, rivalling known destinations like Taiwan and South Korea in next 5 years, Union Minister Ashwini Vaishnaw has said asserting that if and when mindset of global players has changed to an eagerness to invest in the country. This means, practically every big player would now like …

Finance Minister Sitharaman Sets Vision for India's Global Leadership in AI by 2047
1 year ago

Finance Minister Sitharaman Sets Vision for India's Global Leadership in AI by 2047

Deccan Chronicle  

New Delhi: Exuding confidence in India to become the third largest economy in the world, Union finance minister Nirmala Sitharaman on Tuesday said that the country should become a global hub for artificial intelligence or AI and India would set up centres of excellence for the same. Anticipating the nation to become a developed nation or ‘Viksit Bharat’ by 2047 …

Union Finance Minister Nirmala Sitharaman confident of India Inc aligning to country's developmental goals
1 year ago

Union Finance Minister Nirmala Sitharaman confident of India Inc aligning to country's developmental goals

The Hindu  

Finance Minister Nirmala Sitharaman on February 27 exuded confidence that India Inc will align itself to the developmental goals of the nation with an objective of making the country a developed nation or 'Viksit Bharat' by 2047 on the 100th anniversary of independence. Ms. Sitharaman said Prime Minister Narendra Modi has clearly indicated that the goal of Viksit Bharat is …

At the root of India’s manufacturing challenge
1 year, 9 months ago

At the root of India’s manufacturing challenge

The Hindu  

The issue of manufacturing or services as the desirable path for India’s economy makes the rounds in public fora periodically. In the early part of this century, when India’s software exports were booming, it had been asked why India’s services sector should not leapfrog over manufacturing to propel the economy forward. Unimpressive record After the economic reforms of 1991, the …

Union Budget 2023-24: Consumer Electronics sector expects proposals to bolster its growth
2 years, 1 month ago

Union Budget 2023-24: Consumer Electronics sector expects proposals to bolster its growth

Firstpost  

It would also be very helpful to the sector if the government provides incentives for the domestic design and manufacture of electronics Around 62 per cent of industry leaders were optimistic about India’s growth prospects in 2023, according to a recent survey by Deloitte. Outlook for electronics sector In recent years, there has been a lot of discussion around India …

Indian manufacturing sector and the great transformation under Narendra Modi
2 years, 3 months ago

Indian manufacturing sector and the great transformation under Narendra Modi

Firstpost  

With the vision of transforming India into a manufacturing hub, our government under the leadership of Prime Minister Narendra Modi took concrete steps towards improving various business parameters In 2014, when Prime Minister Narendra Modi took the reins of our nation, India had been tagged as one of the so-called “Fragile Five” nations alongside Indonesia, Brazil, Turkey, and South Africa, …

OPPO India invests USD 60 million under 'Vihaan' initiative to boost smartphone Industry
2 years, 7 months ago

OPPO India invests USD 60 million under 'Vihaan' initiative to boost smartphone Industry

India TV News  

OPPO India, today has announced the launch of the ‘Vihaan’ Project to empower SMEs and MSMEs to amplify their operations and in turn strengthen the local supply chain for a robust smartphone ecosystem in India. Reiterating OPPO India’s commitment to India, Mr Vivek Vasishtha, Vice-President, Public Affairs, OPPO India said, “The forward-looking, industry-friendly policies of the Indian Government have created …

India Inc could play a lead role in our economy’s global emergence
2 years, 8 months ago

India Inc could play a lead role in our economy’s global emergence

Live Mint  

As India celebrates its 75th year of Independence with the Azadi ka Amrit Mahotsav, we stand at the cusp of a new emerging world order. As former PM Manmohan Singh had commented, “The brightest jewel in the British crown was the poorest country in the world in terms of per capita income at the beginning of the 20th century.” Post-independence, …

RSS stresses on 'Bharat-centric' models of employment generation to achieve holistic development
3 years ago

RSS stresses on 'Bharat-centric' models of employment generation to achieve holistic development

Firstpost  

In the wake of several youth in the country facing unemployment, the Akhil Bharatiya Pratinidhi Sabha, the top decision-making body of the RSS, passed a resolution to promote work opportunities to make India self-reliant Ahmedabad: The Rashtriya Swayamsevak Sangh has called for “Bharat-centric” models of employment generation to strengthen the economy and achieve sustainable and holistic development. In the wake …

Govt Plans Booster Shot for Medical Devices Sector to Make India One of Top 5 Global Manufacturing Hubs
3 years ago

Govt Plans Booster Shot for Medical Devices Sector to Make India One of Top 5 Global Manufacturing Hubs

News 18  

The Narendra Modi government plans a big boost for India’s medical devices sector, making its first move by releasing a draft policy exclusively for the industry, which until now has been kept under the policy to regulate pharmaceuticals. According to the approach paper on draft National Medical Devices Policy 2022, released by the department of pharmaceuticals that comes under the …

Explained: Why India's economy needs a manufacturing push
3 years, 6 months ago

Explained: Why India's economy needs a manufacturing push

India Today  

India’s economy needs a strong manufacturing push as the nation’s dominant services sector struggles to return to normalcy after two deadly waves of the Covid-19 pandemic. Read | Covid-19: India’s services activity in May contracts for 1st time in 8 months SLOW PROGRESS IN MANUFACTURING Even before the pandemic brought the economy to a standstill in 2020, growth in India’s …

India must get its manufacturing policy right this time
4 years, 3 months ago

India must get its manufacturing policy right this time

Live Mint  

Two headlines in Mint point to a window of opportunity for India to fix a festering problem of its economy. The first: “India in a Deglobalizing World”; and the second: “PLI Wind in Sails for India Inc.” India’s manufacturing sector lacks sufficient depth for a large country. In 1990, India’s manufacturing sector was comparable with China’s. Not only has China …

2020 could be for manufacturing what 1991 was for our economy
4 years, 4 months ago

2020 could be for manufacturing what 1991 was for our economy

Live Mint  

India, once a predominantly agrarian economy, has come to be acknowledged globally as a software/ information technology giant. While there have been state interventions aimed at industrialization, ranging from the “temples of modern India” to special economic zones, an Indian manufacturing revolution never really took off in earnest. His government launched an ambitious “Make in India” programme in September 2014 …

Government working to make India as global manufacturing hub: Niti Aayog CEO
4 years, 5 months ago

Government working to make India as global manufacturing hub: Niti Aayog CEO

Live Mint  

The government has been working on multiple fronts to position India as a truly global manufacturing hub with a strong focus on exports, Niti Aayog CEO Amitabh Kant said on Tuesday. "The Government of India has been working on multiple fronts to position India as a truly global manufacturing hub with a strong focus on exports.Aatmanirbhar Bharat does not mean …

News18 Rising India Summit: India's foray into world market is services and not manufacturing-centred, says Paul Krugman
7 years ago

News18 Rising India Summit: India's foray into world market is services and not manufacturing-centred, says Paul Krugman

Firstpost  

In the session right after Krugman’s, Ruchir Sharma, head of the Emerging Markets Equity at Morgan Stanley Investment, said that low-end manufacturing, which may seem unglamorous on the surface, is what will spur growth. On Friday, at the News18 Rising India Summit in New Delhi, Suresh Prabhu, Union Minister of Commerce and Industry, said that the agriculture sector GDP is …

Economic Survey 2018: Make in India 2.0 to focus on 10 champion sectors to spur manufacturing, job creation
7 years, 1 month ago

Economic Survey 2018: Make in India 2.0 to focus on 10 champion sectors to spur manufacturing, job creation

Firstpost  

Make in India programme was launched on 25 September, 2014 with an aim to make India a global hub for manufacturing New Delhi: Make in India 2.0 will accord renewed focus on ten champion sectors, including capital goods, auto, defence, pharma and renewable energy to push growth in manufacturing and generate job opportunities, the Economic Survey said on Monday. The …

Centre seeks inputs on trade, industrial policies, services
7 years, 7 months ago

Centre seeks inputs on trade, industrial policies, services

The Hindu  

Commerce Minister Nirmala Sitharaman on Friday sought inputs from the academia on three topics — Foreign Trade Policy review, the proposed revamp of manufacturing and industrial policies and India’s proposal at the World Trade Organisation on services sector liberalisation. In the backdrop of the Centre working on a new manufacturing and industrial policy to increase the contribution of the manufacturing …

More steps required to make India investment friendly: CII
9 years, 6 months ago

More steps required to make India investment friendly: CII

India TV News  

Washington: More steps needs to be taken to make India an investment friendly destination as there is a long way to go, a top leader of an association of Indian businesses has said here in the US. During an interaction at Atlantic Council, a top American think-tank, Forbes, who is currently leading an industry delegation to the US, observed that …

Making ‘Make in India’ happen
10 years, 2 months ago

Making ‘Make in India’ happen

The Hindu  

At this moment, the Prime Minister’s “Make in India” campaign appears to be exactly this — an imaginative marketing campaign. In addition, with China’s competitive advantage in manufacturing eroding, India has the opportunity to take some share of global manufacturing away from China. A simple step of making it easier to do business will make a huge difference to India’s …

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