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India’s aspiration to become a developed nation by 2047—often framed under the vision
of Viksit Bharat 2047—is one of the most ambitious national projects of the 21st century.
The narrative is compelling: high growth, modern infrastructure, digital leadership, and a
stronger global presence.Yet, beneath the optimism, economists and policy thinkers are
raising important questions. Their concern is not whether India can grow, but whether it
can grow in a way that is inclusive, sustainable, and institutionally robust. The missing
pieces of this conversation may well determine whether the vision becomes reality.
Growth Is Not the Same as Development
India has demonstrated the capacity to sustain high economic growth, but economists
increasingly caution that the composition of growth matters as much as the rate
itself.Much of recent expansion has been driven by capital-intensive sectors, which
improve productivity but generate relatively fewer jobs. For a country with a young and
expanding labor force, employment-intensive growth is not just desirable—it is
essential.Without broad-based job creation, rising incomes at the top may coexist with
stagnant opportunities for many, creating structural inequalities that slow long-term
progress.
The Human Capital Challenge
A developed nation is built on people as much as on infrastructure. While India has
expanded access to education and healthcare, serious challenges remain in learning
outcomes, skill formation, and public health investment.Economists often describe
India’s demographic dividend as a “window of opportunity,” not a guarantee. A young
population becomes an advantage only when education systems produce analytical
skills, vocational training aligns with industry needs, and healthcare systems ensure a
productive workforce.
Uneven Geography of Growth
India’s development has never been uniform. Some states have emerged as hubs of
manufacturing and services, while others struggle with weak industrial bases and fiscal
limitations.
If the goal of 2047 is national prosperity, regional disparities must narrow. Balanced
development will depend on empowering states, strengthening local institutions, and
directing investment toward regions that have historically lagged behind.
Institutions Matter More Than We Admit
Beyond policies and investments lies a less visible but equally crucial factor: institutional
strength. Reliable data, transparent governance, regulatory consistency, and judicial
efficiency form the foundation of a modern economy.Investors, businesses, and citizens
alike depend on predictable and credible institutions. Without them, even well-designed
policies can falter in implementation.
Rethinking the Meaning of “Developed”
Perhaps the most profound gap in the Viksit Bharat 2047 conversation is philosophical.
What does it truly mean to be a developed nation?Is it defined only by per capita
income and infrastructure, or also by social mobility, environmental quality, and the
ability of citizens to live with dignity and security? Development, in its deepest sense, is
not merely about becoming richer. It is about becoming fairer, healthier, and more
resilient as a society.
The Road Ahead
India’s ambition for 2047 is both necessary and inspiring. Vision drives policy, and policy
drives transformation. But visions must also invite critique.
Economists are not questioning the destination; they are questioning whether the path
is complete. Employment, human capital, institutional reform, sustainability, and regional
balance are not secondary concerns—they are the pillars upon which durable prosperity
rests.If these gaps are addressed with seriousness and urgency, India’s journey to 2047
will not only be about becoming a developed economy, but about becoming a
developed society.
These pieces are being published as they have been received – they have not been edited/fact-checked by ThePrint.