Vision India@2047 to be ready soon

India’s blueprint to be at US$ 40 trillion economy, a powerhouse is going to be ready this week. The Cabinet Secretary will review Vision India@2047. Different sectoral group of secretaries will share plans and strategies to make India a leading player. Vision is to mark the 100 years of independence. Industry Consultations have been held to set goals for 2024, 2030 and 2047. The aim was to identify the focal points in technology, sunrise and futuristic areas.

A government official said “The groups will present their plans to the cabinet secretary this week. One group has suggested ways of making India a $40 trillion economy by 2047.” India’s nominal GDP for FY22 has been estimated as RS 232.1 lakh crore, which is just over $3 trillion. The estimate is well short from $5 trillion target by FY25.

The ministry of commerce and industry and Textiles have discussed with exporters and industry benchmarking India’s regulations and key socio-economic indicators across different sectors. The gap analysis has been conducted between domestic and advanced international capabilities.
The intent of the exercise is to brainstorm and ideate ways to develop institutional expertise including government process re-engineering, and propose a framework to position India as a leader in such a sector within a decade. Aim is to become energy-independent by 2047. Such consultations has also been held by other ministries and Export promotion council to make India a global leader.