By Dr. Mohan Kumar
Aug. 13, GNA – It is creditable that the Government of India has set for itself and the nation a crucial goal: that India should become Viksit Bharat by 2047, the centenary year of India’s independence.
While there is general agreement that Viksit Bharat denotes a developed country, it is still necessary for public policy purposes to break the concept down to understand what it entails. What follows is an attempt to do so.
A $10 Trillion Economy
While India can legitimately be proud of being the fourth-largest economy in the world in terms of Gross Domestic Product (GDP), the fact remains that for a population approaching 1.5 billion, the present GDP of $4.5 trillion is a little below par.
Therefore, if India is to become truly Viksit, GDP must grow significantly to reach at least $10 trillion.
This is entirely achievable if we do two things. First, with foreign trade accounting for 40 per cent of GDP, India’s share of international trade must double. In particular, our share of global exports, which hovers around 2 per cent, should rise to 10 per cent. Second, Foreign Direct Investment (FDI), which was a little short of $10 trillion in the latest year, must grow manifold.
For the above to happen, the Government of India must carry out deep-seated economic reforms in land, labour, power, agriculture, infrastructure, and regulatory frameworks.
Inclusive Economic Growth
While GDP must accelerate, as mentioned above, that alone is not enough. Growth must be inclusive — it must reach those at the bottom of the pyramid.
The government has conceived excellent schemes such as the Pradhan Mantri Garib Kalyan Yojana. Beyond that, job creation for the youth must become a national mantra for both the Central and State Governments.
Since it is not possible for the government alone, or even the organized sector, to provide all the necessary jobs, it is vital to enable an ecosystem where the youth become entrepreneurs and job creators rather than mere job seekers.
Present levels of economic inequality are unsustainable, and efforts must be made to make society much more egalitarian.
Skilling
It is well recognized that our education system relies heavily on rote learning and churns out thousands of graduates every year who may not be immediately employable. In this context, skilling and re-skilling of graduates becomes crucial.
Vocational training, industry-academia collaboration, and imparting tech skills — including Artificial Intelligence — must be given mission-mode importance.
Spending on education in both the public and private sectors must increase exponentially, especially in states that lag the national average. In parallel, Research and Development must be given prime importance in all relevant institutions.
India’s population of nearly 1.5 billion can be a demographic dividend, but only if the population is skilled enough to meet the challenges of a knowledge economy.
Health
India’s healthcare system is undergoing dramatic transformation, driven by digitalization and infrastructure expansion. But challenges remain due to rising medical costs and a growing chronic disease burden.
The government has undertaken significant efforts such as Ayushman Bharat and Ayushman Arogya Mandir schemes, which have made a big impact on healthcare delivery.
Medical college seats have more than doubled since 2014 in an attempt to bridge the doctor-patient gap. Successful attempts have also been made to promote India as a global hub for medical tourism.
Despite this, serious challenges remain. Public spending on healthcare still lags desired levels. India also runs the risk of becoming the global capital for heart disease and diabetes.
India therefore needs to continue its massive transformation of public health infrastructure to make it accessible, affordable, and quality-driven for the vast majority of its population. The National Health Mission is doing commendable work. It simply needs to be strengthened and streamlined.
Sustainable Development
India must not emulate the path of industrialized countries, which followed a high-carbon route to development, or that of China, which even today burns more coal than the rest of the world combined.
India is the only major economy today with the potential to follow a low-carbon pathway to a high-income economy based on sustainable development.
And India must do it not just because the world wants it to, but because the people of this country deserve it as a matter of right.
Conclusion
India is well positioned to become _Viksit Bharat_ by 2047. But the country needs to operate in mission mode, with a whole-of-government approach to ensure that no stone is left unturned in this national endeavour. By any reckoning, the next 20 years will be the most crucial period in India’s history.
GNA
Dr. Mohan Kumar_Â
The writer is a former Indian Ambassador to France and currently Dean/Professor at O.P. Jindal Global University. Views are personal.
Edited by Samuel Osei-Frempong