Advancing India’s goal to double the economy by 2030
India’s ambition to double its economy to $7 trillion by 2030 hinges on a broad strategy that includes reforms, infrastructure development, investment in human capital, a focus on innovation, and consistent investment in key growth sectors such as manufacturing, exports, and agriculture. Achieving this target requires collaboration between government, civil society, and the private sector.
In this background, Public Affairs Forum of India ( PAFI ) 11th Annual Forum was convened last month in New Delhi with three specific aims: to define required policies, understand crucial partnerships, and identify immediate priorities. The sessions pointed to multiple learnings for advancing India’s ambition for sustainable and inclusive growth.
Here are 11 key points that emerged at the Forum.
First, the current strategy for India’s growth is being carried out along four pillars: the first pillar involves investment in social, digital, and physical infrastructure; the second focuses on manufacturing and innovation; the third pillar involves simplification of laws and regulations; and the fourth pillar emphasises a focus on inclusive growth. All four must work in tandem to ensure the national objective of economic development is met.
Second, private sector will drive India’s economic growth and it is crucial to recognise them as the primary driver and not just a contributor to India's growth story. Fostering an ecosystem that empowers domestic businesses to innovate and invest can create inclusive growth and job creation for
