It is creditable that the Government of India has set for itself and the nation a crucial
goal: That India should become Viksit Bharat by 2047, which would be the one
hundredth year anniversary of India’s independence. While there is general
agreement that the term Viksit Bharat denotes a developed country, it is still
necessary for public policy purposes to break the concept down to know what it
entails. What follows is an attempt to do so.
A 10 trillion-dollar economy: While India can be legitimately proud of being the
fourth largest economy in terms of Gross Domestic Product (GDP) in the world, the
fact remains that for a population that is approaching 1.5 billion, the present GDP of
$4.5 trillion is a little below par. So, if India must become “Viksit” in the real sense of
the term, the GDP must grow significantly to attain the figure of at least 10 trillion
dollars. This is entirely achievable if we can do a couple of things. First, 40 per cent
of our GDP is foreign trade, so our share of international trade must simply double.
In particular, our share of global exports, which hovers around 2 per cent, should rise
to 10 per cent. Second, our Foreign Direct Investment (FDI), which for the latest year
is a little short of $ 100 billion, must also grow manifold. In order for the above two
things to happen, Government of India must carry out deep seated economic
reforms in areas such as land, labour, power, agriculture, infrastructure and
regulatory obstacles.
Inclusive Economic Growth: While there is no question that the GDP must
accelerate, as mentioned above, that alone is not enough. Growth must be inclusive
which is to say that it must percolate to the downtrodden people who are at the
bottom of the pyramid. The government has conceived excellent schemes such as
the Pradhan Mantri Garib Kalyan Yojana. But going beyond that, job creation for the
youth must become a national mantra for both the Central and State Governments.
Since it is not possible for the Government alone or even the organized sector to
provide all the jobs that are necessary, it is vitally important to enable an ecosystem
where the youth become entrepreneurs and job creators rather than be mere job
seekers. Present levels of economic inequality are unsustainable and efforts must be
made to make the society much more egalitarian.
Skilling: It is well recognized that our education system relies heavily on rote
learning and it churns out thousands of graduates every year who may not be
immediately employable. In this context, skilling and re-skilling of graduates
becomes crucial. The idea of vocational training, industry-academic collaboration
and imparting tech skills (including Artificial Intelligence) for our graduates must
assume mission-mode importance. Spending on education, in both the public and
private sector must increase exponentially, especially in states that lag the national
average. In parallel, Research and Development must be given prime importance in
all relevant institutions. It is indeed true that a population that is close to 1.5 billion
can be a demographic dividend for India. But that is true only if the population is
skilled enough to face the challenges of a knowledge economy.
Health: India’s healthcare system is undergoing dramatic transformation, driven by
digitalization and by infrastructure expansion. But challenges remain on account of
rising medical costs and a growing chronic disease burden. Government has
undertaken significant efforts such as Ayushman Bharat and Ayushman Arogya
Mandir schemes which have made a big impact on providing healthcare in the
country. Medical college seats have more than doubled since 2014, in an attempt to
bridge the doctor-patient gap. Successful attempts have also been made to promote
India as a global hub for medical tourism. Despite all this, serious challenges remain.
Public spending on healthcare still lags desired levels. India also runs the risk of
becoming the global capital for heart disease and diabetes. India therefore needs to
continue its massive transformation of public health infrastructure to make it
accessible, affordable and quality-driven for the vast majority of its population. The
National Health Mission is doing a commendable job. It simply needs to be
strengthened and streamlined.
Sustainable Development: India must not emulate the ways of either the
industrialized countries which followed a high-carbon pathway to development or
indeed that of China, which even today burns more coal than the rest of the world
put together. India is the only major economy today which potentially has the
possibility of following a low-carbon pathway to a high-income economy based on
sustainable development. And India must do it not just because the world wants it to,
but because the people of this country deserve it as a matter of right.
Conclusion: India is indeed well positioned to become Viksit Bharat by 2047. But
the country needs to be on mission-mode and a whole-of-government approach is
required to make sure that no stone is left unturned in this national endeavour. By
any reckoning, the next twenty years will be the most crucial period in India’s history.
Dr Mohan Kumar is a former Indian Ambassador to France and currently
Dean/Professor at O.P. Jindal Global University.
