Report outlines a strategic roadmap illustrating how India can transform into a high income country with a projected GDP of $23–$35 trillion.
Key highlights of the report
- Sustained GDP Growth: Of around 8%–10%, with acceleration on multiple fronts like export-led economy, diverse workforce, etc.
- Sectoral Shift: Services and manufacturing could drive India’s growth, growing at 10%, with agriculture at around 6%.
- Renewable Energy: India’s share of renewables in overall energy generation is to rise to 70% (2047) from 24% (2023).
Key Enabling Sectors
- Electronics: AI-led product simulation (near term) and design of quantum computers and brain inspired neuromorphic chips (long term), etc.
- Energy: Driven mainly by investing in Microgrids, Small Modular Reactors (SMRs), etc.
- Chemicals: AI Driven molecular design, customized formulations based on customer needs, etc.
- E.g., China has ensured consolidation of manufacturing resources into chemical parks.
- Automotive: Electrification and shift to Electric Vehicles, Shift to solid state batteries, etc.
- Services: In key areas like Finance and banking (block-chain enabled transactions); health (immersive tele-presence treatment); etc.
Key Recommendations
- For Government: Building Export-oriented Infrastructure, pursuing India-centric agreements with global groups like ASEAN, EU, etc.
- For Corporates: Invest in building foundational layer integrated with latest technology. E.g., incorporating latest technology systems on factory floor for real time data.