Developed Nations

Viksit Bharat not just PM's dream, shared duty of 1.4 bn Indians: Mandaviya

Union Labour Minister Mansukh Mandaviya on Friday said the vision of Viksit Bharat by 2047 is not just the Prime Minister's dream, it is the shared duty of 140 crore Indians. Addressing the 2nd graduation ceremony of ESIC Medical College & Hospital, Faridabad, the minister highlighted the central role doctors will play in this transformation, saying that every consultation and every life saved contributes to national productivity and progress, according to a labour ministry statement. A total of 447 students graduated on Friday. Mandaviya urged the new doctors to serve in rural and underserved areas, understand ground realities, and ensure healthcare remains accessible, affordable, and ethical. He also underscored that a healthy citizen is the foundation of a healthy society, and hence, a healthy nation. In this context, he said doctors are the torchbearers of the Fit India Movement, playing a critical role in promoting wellness, preventive care, and healthy habits among the ...

Tariffs may destroy developing nations more than aid cuts: UN trade agency

Global trade could shrink by 3-7 per cent and global gross domestic product by 0.7 per cent, with developing countries the worst affected, the International Trade Centre said

Developed nations easing stance on non-trade issues in FTA talks: Report

Developed countries are indicating that they are ready to proceed with negotiations for proposed free trade agreements (FTAs) without insisting much on the inclusion of non-trade issues like sustainability and climate obligations, according to sources. They said gradually those countries are suggesting that "let's start business first, we will look into the rest of the extraneous issues later". In a free trade agreement negotiations, trading partners should keep all the options open so that things can move smoothly. Major countries that used to pressure on issues like sustainability and climate have now gone quiet, one of the sources said. India has always maintained issues like sustainability, labour, and the environment should be addressed in separate forums or international platforms rather than being integrated into trade agreements. The International Labour Organization (ILO) is there for for labour standards, and the United Nations Framework Convention on Climate Change (UNF

Need 7.3% per capita income growth for 'Viksit Bharat' by 2047: Panagariya

The 16th Finance Commission Chairman Arvind Panagariya on Saturday said India's aim to become a developed nation by 2047 is a "realisable ambition" for which the country's per-capita income needs to grow at 7.3 per cent in dollar terms to USD 14,000 over the next 24 years. India's per-capita income, in 2023-24 dollar terms, is about USD 2,570, which is very low compared to countries like South Korea, Taiwan, United States, and other European nations. Speaking at the 49th Civil Accounts Day, Panagariya said with the existing technology, coupled with reasonable capital accumulation and skill acquisition, India has enormous room for catching up with the per-capita income of developed nations and meet World Bank's definition of USD 14,005 per capita income annually. Today, our per capita income in dollars is about USD 2,500. To get to USD 14,000 in 24 years or by 2047-48, what growth rate do I need for per capita income? my per capita income from 2023-24 onward has to grow annually at

India's economic reset underway but clock is ticking: Experts at BS Manthan

India's economy is growing, but seizing its full potential means spurring corporate investment, tackling judicial delays and ensuring inclusive growth, said panelists on the first day of BS Manthan

'India to become high-income nation by 2047 on back of services sector'

India is set to become a high-income country by 2047 with a projected GDP of USD 23 trillion to USD 35 trillion, buoyed by the services sector, a report has said. By 2047, the services sector is projected to make up 60 per cent of India's GDP, while manufacturing will account for 32 per cent, both becoming crucial drivers of economic growth, the report by Bain & Company and nasscom said. "With nearly 200 million individuals expected to enter the workforce in the coming decades, India has a unique opportunity to drive high-value job creation and unlock significant economic potential," the report said. A sectoral technology roadmap could play a pivotal role in enabling this transformation, it noted. Advances in Al-driven chip design, touchless manufacturing, and backward integration into component manufacturing and design could enhance cost competitiveness and innovation, driving the sector's export share from 24 per cent to 45 per cent-50 per cent by 2047 and its GDP contribution ..

Modi govt prepared roadmap to build 'Viksit Bharat' by 2047: Mandaviya

Union Minister Mansukh Mandaviya on Saturday blamed previous governments for missing the opportunity to develop infrastructure for boosting economic expansion, saying the Modi government has prepared the roadmap to achieve the Viksit Bharat@2047 goal. This assumes significance in view of India's ambitious goal of achieving the target of a fully developed nation in 2047 when the country will be celebrating 100 years of independence. Speaking at The Times Group's ET NOW Global Business Summit (GBS) 9th Edition, Mandaviya said that many trains (opportunities to push economic growth) came and went but the country was not ready with its luggage and ticket (roadmap for development) at the right time. The minister, who holds the portfolio of Labour and Employment and Youth Affairs and Sports, was referring to the absence of a clear-cut roadmap for development, especially infrastructure, commensurate with the need of the hour to keep pace with changing times for achieving high economic ...

Which road to Viksit Bharat? Charting India's path to development by 2047

Historically, most nations have managed to move only one income bracket higher over the past 80 years

Economic Survey: 8% growth needed to reach 'Viksit Bharat' goal by 2047

Investment, jobs, and deregulation vital for India's development

Viksit Bharat 2047 achievable with focus on manufacturing: Deloitte

The target of India achieving the status of a developed nation, or Viksit Bharat by 2047, seems "achievable", consultancy firm Deloitte India said on Friday advocating for a sharp focus on manufacturing and services, and measures to rein in inflation. The Economic Survey 2024-25, tabled in Parliament on Friday, said India needs to grow by 8 per cent on an average for at least a decade to become a developed nation by 2047. "According to our calculation, we need 7 per cent growth at least to get to USD 30 trillion by 2047. That's a math we did assuming a 4 per cent inflation rate and about one and a half per cent depreciation. "I think the momentum that India needs is in the services sector and the manufacturing sector. Because that is where the growth potential lies. And not in just every sector, but in the high value added segments," said Rumki Majumdar, Economist, Deloitte India. In an interview with PTI, she said 8 per cent could be challenging for some years especially when the

India poised to become a developed nation by 2047: ITC chief Sanjiv Puri

With transformative reforms of the past decade propelling India to global stage, it is India's moment in history, ITC Chairman Sanjiv Puri said, exuding confidence that the country will become a developed nation by 2047 on the back of strong macro fundamentals and purposeful policy interventions. India has risen from being the 10th largest economy in the world in 2014 to the fifth largest, driven by landmark reforms like GST and an unprecedented infrastructure push. The decade under Prime Minister Narendra Modi is hailed for landmark reforms, inflation control, financial inclusion and digitisation despite inheriting a weak economy. "In the new world order, which is characterised by new policies on geo-economics and geo-politics, I think the world is looking towards supply chain diversification, and supply chain resilience. "Because of the climate emergency, the world is looking at an energy transition. Digital transformation is another area that the world is going through. Food and

India's youth will drive its rise to becoming developed by 2047: PM Modi

Prime Minister Narendra Modi asserted on Sunday that the capabilities of India's young population will power the country's rise to becoming developed. Addressing the Viksit Bharat Young Leaders Dialogue here, he said some people may find the goal of India becoming developed difficult but it is not impossible. No power can stop India from becoming a developed country if the spirit of 'Viksit Bharat' guides its every step, policy and decision, he said, highlighting the strength and numbers of the country's young population. "Big targets have to be set for a country to march forward... This is what today's India is doing," Modi said, adding that the country is accomplishing numerous goals in different sectors ahead of time. India has set the target of 20 per cent ethanol blending in petrol by 2030 and will meet the goal before that, he said. The prime minister added that the government alone cannot drive the country forward and told youngsters drawn from across the country that the .

Tech advancement a core building block to become developed nation: Vaishnaw

Computing and technological advancement is a core building block for India to become a developed nation by 2047, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said here on Saturday. The minister also said C-DAC plays a major role in this regard. The Centre for Development of Advanced Computing (C-DAC) is the premier organisation of the Union Ministry of Electronics and Information Technology (MeitY) for carrying our research and development in IT, electronics and associated areas. Vaishnaw launched one VEGA-based SoC ASIC and two DIR V VEGA processor based development boards designed and developed by C-DAC at the event held here. These are the ARIES ECO and ARIES NOVA development boards and THEJAS64 Indigenous 64-bit SoC, a release said. "ARIES ECO is useful for students, providing a hands-on platform for experimenting with applications like sensor fusion, smart meters, and wearable devices. It offers an easily accessible platform for education, ...

WTO: India for 'per capita distribution of subsidies' criteria for fishers

India also flagged the difference in the amount of subsidy provided by developing nations such as India, as compared to developed nations

Need 8-fold rise in per capita income to realise 'Viksit Bharat' goal: V-P

Vice President Jagdeep Dhankhar on Saturday asserted that an eight-fold rise in per capita income needs to be achieved to realise the goal of "Viksit Bharat" (developed India) by the year 2047. Addressing the second convocation ceremony of Mahatma Gandhi Central University in Bihar's Motihari, he also expressed hope that the country, which was currently the "fifth largest economy" in the world, would "soon leave Germany and Japan behind". Lavishing praise on the Narendra Modi government at the Centre, without taking any names, Dhankhar said, "The last 10 years have been marked by eradication of a culture of corruption and middlemen seem to have been eliminated". "The world looks at us with surprise as we keep marching towards getting our due place on the global stage. We are the fifth largest economy as of now but things are looking up and soon we will leave Germany and Japan behind," said the Vice President. He was speaking in presence of Bihar Governor Rajendra Arlekar and local

Gujarat to lead India's bid to become a developed nation by 2047: CM Patel

Gujarat Chief Minister Bhupendra Patel on Monday said the state will lead India's effort to become a developed nation by 2047 in 'Amrit Kaal' by serving as the country's growth engine. Patel was launching projects of Rs 2,000 crore as part of the ongoing 'Vikas Saptah, (development week) to mark the state's development under the chief ministership of Narendra Modi. Modi served as Gujarat's CM from 2001 to 2014 and then went on to become the prime minister. The state government recently announced that it would celebrate 'Vikas Saptah' (development week) every year starting October 7, the day Narendra Modi took oath as the state's 14th chief minister in 2001. "Prime Minister Modi inspires us by showing how much a single person can achieve," Patel said. Patel spoke about three phases of Gujarat, the first being since its formation in 1960 till 2001 when it faced several issues. Then came the second phase when under Modi's leadership Gujarat witnessed transformation in different ...

India's rise as high-income developed country 'not guaranteed': Gill

Gill noted that there were only 34 countries which transitioned from a middle-income to a high-income country in the period between 1990-2023, he says

India's economy: Glass permanently half full on the road to development

Only three-four countries in the past 100 years have transformed themselves into developed nations - Japan, Taiwan, South Korea; and China in the 1990s

Gen Z's contribution key to achieve development by 2047: President Murmu

President Droupadi Murmu on Thursday said the contribution of the present generation is crucial for achieving the goal of making India a developed nation by 2047. Addressing the convocation ceremony of Mohanlal Sukhadia University in Udaipur, the President said the policy of altruism over selfishness will help blossom talent of the students. "Baba Saheb Ambedkar believed that character is more important than education. He believed that an educated person who does not have character and humility is more dangerous than a violent creature. If his education causes harm to the poor, that person can become a curse for the society. "I want to tell all of you that wherever you are, do not do anything which tarnishes your character. Your behaviour should have the highest moral values, along with integrity in every aspect of your life," Murmu said. According to the President, today, when rapid changes are taking place across sectors, including in the field of science and technology, the spir

Developed economy should also be developed ecology: Environment minister

Union Minister for Environment, Forest and Climate Change Bhupender Yadav on Saturday said there is a need to balance economic development of the country with ecology, as both are interconnected. Human-centric approach to development is insufficient, he said, speaking at an event at the Indian Institute of Technology (IIT) Bombay -- Ideas4LiFE - Lifestyle for Environment' -- that aims to inspire innovative environmental solutions. "A developed economy should be a developed ecology too....there is interconnectedness between all life forms. Life extends beyond human needs, therefore, there should be harmonious coexistence of all living beings and the environment," the minister said. Ideas4LiFE - Lifestyle for Environment' has been organised in collaboration with the Maharashtra Environment Department to engage students, faculty and researchers nationwide in generating ideas promoting an eco-friendly lifestyle. The minister further urged students to embrace environmental consciousness