30% of global GDP growth will come from India between 2035-2040: Amitabh Kant
India's structural reforms, Amitabh Kant, India’s G20 Sherpa and former Niti Aayog chief, said such reforms have moved the country from the fragile 5 to the top 5, leading to a growth rate of about 8.4% in the last 3 quarters.
«Analysts are correct in saying that 30% of the global GDP growth will come from India between 2035-2040,» said Kant while addressing the CII Annual Business Summit 2024.
Kant urged India Inc to work with the states to accelerate their development. He added that the government needs to collaborate with the states as we need to focus on building 12-13 champion states growing at 10-11% per annum.
Kant emphasized the imperative for India Inc to adopt a strategy of naming and shaming states that fail to deliver on performance or provide necessary clearances.
He stressed that states must be held accountable for their performance levels. Kant underscored that the growth of India as a nation is closely linked to the growth and development of its individual states.
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Therefore, he emphasized the critical need for all states to thrive in order for India as a whole to progress.
He made a strong case for making India a manufacturing hub. He said India needs to fire on all cylinders and can't rely solely on service growth.
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