In a compelling talk on ‘A Vision of Viksit Bharat’, Dr. Arvind Virmani, Member of NITI Aayog, outlined India’s ambitious goal to elevate its economy to developed-nation standards by 2047, marking a century of independence. Dr. Virmani highlighted the Government of India’s strategic focus on accelerating growth in per capita GDP, employment, and social equity, noting that India is well-positioned to achieve high-income status through targeted reforms and global partnerships.
India currently leads the world in GDP and per capita GDP growth, with Dr. Virmani projecting average per capita GDP growth at 6.2% for the remainder of this decade and 5.7% into the next. These growth levels are essential, he emphasized, to achieving parity with Upper Middle Income Countries (UMIC) like China and Malaysia by 2030 and with High-Income Countries (HIC) like the USA and EU by 2050. Rising trends in employment and wages are reducing poverty and improving income distribution, though Dr. Virmani highlighted the need for further advancements in basic education and job skills to sustain this momentum. He also stressed the importance of reducing reliance on China and reinforcing supply chains for a more resilient economy.
Dr. Virmani emphasized India’s demographic advantage, with the highest global share of working-age population, which he views as a cornerstone for future growth. He advocated for a collaborative approach, combining India’s manpower with technological and market strengths from developed countries, and called for a shift from the legacy ‘Control Mindset’ to a ‘Growth-focused’ administration across central, state, and local levels. Improvements in social services, particularly in health and education, are also critical to achieving India’s development aspirations.
He also highlighted key government initiatives, such as the New Education Policy, NIPUN Bharat, and vocational training programs, as transformative measures driving India’s vision for 2047. He expressed confidence that with robust reforms and a proactive approach to workforce and trade opportunities, India can secure its place among developed nations by its centenary independence anniversary.
