Private sector needs to flourish: Amitabh Kant

Amitabh Kant, Niti Aayog’s CEO has opined that India needs to grow over 8% a year to become US$ 5-trillion economy by 2024-25. He further stated that since the private sector is the one driving India’s growth, the country needs to create an enabling environment for the private sector investment to flourish.

He also noted that the road to the country’s economic growth goes through exports and staunchly advocated for globalizing the economy. He also spoke about the need to explore the potential offered by the sunrise areas of industries, such as electric vehicle (EV) or battery manufacturing. He discussed structural reforms such as Goods and Services Tax, Insolvency and Bankruptcy Code and direct benefit transfer (DBT) and the need to impart education so as to address the gender disparity in the nation.