economy
India is growing at 7%. It may still be too slow for Viksit Bharat
India may need to sustain annual growth of more than 9% to achieve its developed-economy ambition by 2047. Economists say reaching that goal will require stronger manufacturing, private and foreign investment, exports, domestic savings and job creation, while avoiding the middle-income trap.
Context
The ambition of making India a developed nation, termed '' by 2047, faces significant macroeconomic hurdles. The article highlights that India's current growth rate, while robust compared to global peers, falls short of the sustained 9.25% required to reach high-income status over the next two decades, raising concerns about structural issues in employment, investment, and exports.
Exam Perspectives
Key References
AI-generated study notes · sourced from Economic Times