The Government of India aims to achieve Viksit Bharat by 2047, marking a significant milestone in the nation’s journey toward becoming a developed economy.
The Government of India has set an ambitious goal for the nation: to transform India into Viksit Bharat by 2047, coinciding with the centenary of its independence. While the term Viksit Bharat is widely understood to signify a developed country, it is essential to break down this concept for public policy purposes. This article explores the roadmap necessary for achieving this vision.
One of the primary objectives is to establish a 10 trillion-dollar economy. Currently, India ranks as the fourth-largest economy in the world by Gross Domestic Product (GDP), with a GDP of approximately $4.5 trillion. However, for a population nearing 1.5 billion, this figure falls short of expectations. To genuinely attain the status of “Viksit,” India’s GDP must grow significantly, targeting a minimum of 10 trillion dollars. This goal is achievable through several key strategies. First, foreign trade, which currently accounts for 40 percent of GDP, must double. Specifically, India’s share of global exports, hovering around 2 percent, should increase to 10 percent. Additionally, Foreign Direct Investment (FDI), which is currently just under $100 billion, must also see substantial growth. Achieving these targets will require the Government of India to implement comprehensive economic reforms in critical areas such as land, labor, power, agriculture, infrastructure, and regulatory frameworks.
However, economic growth alone is not sufficient; it must be inclusive. This means that the benefits of growth should reach the most disadvantaged populations at the bottom of the socioeconomic pyramid. The government has initiated commendable schemes, such as the Pradhan Mantri Garib Kalyan Yojana, but more is needed. Job creation for the youth must become a national priority for both Central and State Governments. Given that the organized sector cannot provide all the necessary jobs, it is crucial to foster an ecosystem that encourages youth entrepreneurship and job creation rather than merely job seeking. Current levels of economic inequality are unsustainable, and efforts must be made to create a more egalitarian society.
Another vital aspect of this transformation is skilling. India’s education system has been criticized for its heavy reliance on rote learning, producing thousands of graduates each year who may not be immediately employable. Therefore, skilling and re-skilling graduates is essential. Emphasizing vocational training, industry-academic collaboration, and imparting technological skills—including artificial intelligence—should be prioritized. Investment in education, both public and private, must increase significantly, particularly in states that lag behind the national average. Concurrently, research and development should be emphasized in all relevant institutions. With a population of nearly 1.5 billion, India has the potential for a demographic dividend, but this potential can only be realized if the population is adequately skilled to meet the demands of a knowledge-based economy.
India’s healthcare system is also undergoing significant transformation, driven by digitalization and infrastructure expansion. However, challenges remain, particularly concerning rising medical costs and an increasing burden of chronic diseases. The government has launched significant initiatives, such as the Ayushman Bharat and Ayushman Arogya Mandir schemes, which have made a considerable impact on healthcare accessibility. Since 2014, the number of medical college seats has more than doubled in an effort to address the doctor-patient gap. Additionally, efforts have been made to position India as a global hub for medical tourism. Despite these advancements, serious challenges persist. Public spending on healthcare still falls short of desired levels, and India faces the risk of becoming the global capital for heart disease and diabetes. Therefore, it is crucial for the country to continue transforming its public health infrastructure to ensure it is accessible, affordable, and of high quality for the majority of its population. The National Health Mission has made commendable progress but requires further strengthening and streamlining.
Moreover, sustainable development is a critical component of India’s roadmap to becoming Viksit Bharat. India must avoid replicating the high-carbon development pathways of industrialized nations or the current practices of countries like China, which relies heavily on coal. As the only major economy with the potential to pursue a low-carbon trajectory toward high-income status, India must prioritize sustainable development—not just to meet global expectations but as a fundamental right for its citizens.
India is indeed well-positioned to achieve Viksit Bharat by 2047. However, this endeavor requires a mission-oriented approach and a comprehensive government strategy to ensure that no stone is left unturned. The next two decades will be pivotal in shaping India’s future.
Dr. Mohan Kumar, a former Indian Ambassador to France, currently serves as Dean and Professor at O.P. Jindal Global University. His insights underscore the importance of a multifaceted approach to achieving India’s developmental goals.