 "Artificial intelligence")
India wants to move from being a lower middle-income country to a high-income developed nation by 2047 — the target year for Viksit Bharat. To achieve this, and to avoid the middle-income trap, technological dynamism and an improved quality of its workforce will be crucial. It is not just factor accumulation, but factor productivity — driven by technological advancement — that will matter most for sustained growth performance.
One can attribute improvements in capital quality and factor productivity to advances in technology. According to the reliable KLEMS (capital, labour, energy, materials, and services) calculation of total factor productivity (TFP), the
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