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India needs to grow at 9-10 per cent to become USD 35 trillion economy by 2047: Amitabh Kant

Kant said India's potential to supply 31 per cent of the world's skilled manpower positions it as a global powerhouse in the workforce arena.

Edited By: Akshit Tyagi New Delhi Published on: February 19, 2024 7:18 IST
G-20 Sherpa Amitabh Kant
Image Source : PTI (FILE) G-20 Sherpa Amitabh Kant

India needs to grow at an annual rate of 9-10 per cent for around three decades and through constant innovations to become a USD 35 trillion economy by 2047, India's G-20 Sherpa and former NITI Aayog CEO Amitabh Kant said on Sunday.

Speaking at Mumbai Tech Week, hosted by the Tech Entrepreneurs Association Mumbai, Kant emphasised India's ambition to reach a USD 35 trillion economy by 2047. 

"We are the fifth largest economy in the world, and by 2027, we will surpass Japan and Germany to become the third largest economy in the world. And our aim is that by the time we turn 100 in 2047, India should be a USD 35 trillion economy," Kant said. 

Kant underscored the significance of innovation and disruptive measures to propel India's economic trajectory forward. He commended India's strides in digital identity creation for its 1.4 billion citizens, citing technological leapfrogging as a key enabler. Kant also lauded the government's supportive policies towards startups and emphasised the pivotal role of young entrepreneurs in sectors such as artificial intelligence, logistics, health, and education.

"And to be a USD 35 trillion economy means that we need to grow year after year for close to three decades by 9-10 per cent annually, and this means that we need to do a lot of disruptions and constant innovation," he noted.

India's demographic dividend, with an average age of 29 and projected to be 33 by 2047, was highlighted as a strategic advantage. Kant said India's potential to supply 31 per cent of the world's skilled manpower positions the nation as a global powerhouse in the workforce arena. With a focus on innovation at scale, India stands poised on the cusp of transformative growth, leveraging its youthful population and technological prowess to realise its ambitious economic vision.

(With PTI inputs)

 
 
 

 

 

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