For India to achieve this potential in its own development and the contribution it makes to the world economy, there must be a unified effort to innovate, incentivise and invigorate India’s GDP growth. We see four focus areas at the core of this growth.
By Rich Lesser & Alpesh Shah
India’s global significance is nothing new. It has forayed into uncharted realms in recent years, enabled by government initiatives and unprecedented private-sector growth. As part of this momentum, Prime Minister Narendra Modi set a goal of a $5 trillion economy for India by 2025.
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Realising this vision will necessitate annual growth rate of 9.25% from today’s GDP of $2.9 trillion, which considering current reality is a clear stretch. Regardless of forward growth trends, assuming India grows at 6%-plus, it is poised to become a $5 trillion economy between 2025 and 2028.
For India to achieve this potential in its own development and the contribution it makes to the world economy, there must be a unified effort to innovate, incentivise and invigorate India’s GDP growth. We see four focus areas at the core of this growth.
Source: Economic Times
