India To Contribute 20% Of Global Economic Growth In Next Decade, Says Amitabh Kant

Kant emphasised that for India to achieve developed nation status by 2047, it must improve the lives of those in rural areas, enhance health outcomes, and raise nutritional standards

Kant added that the country will drive 20 per cent of global economic growth over the next decade

Source : PTI

G20 Sherpa Amitabh Kant said India is set to contribute 20 per cent of global economic growth over the next decade as it progresses toward becoming the world's third-largest economy. Addressing the AIMA convention, Kant highlighted that India remains the fastest-growing major economy and is currently the fifth-largest economy globally.

"In the next three years, we will overtake Japan and Germany to be the third largest economy in the world. In a world which is starved for growth, India is an outlier and has emerged as a very resilient powerhouse driving growth," he said.

He added that the country will drive 20 per cent of global economic growth over the next decade.

"What we are witnessing today is a once-in-a-generation shift in our economic position. Just a few years back, we were in the fragile five, and from the fragile five, we moved to the top five in a decade," Kant opined.

He emphasised that for India to achieve developed nation status by 2047, it must improve the lives of those in rural areas, enhance health outcomes, and raise nutritional standards. Kant also highlighted the need for several leading states to drive future growth.

"If India is to grow at 9-10 per cent over the next three decades and become a developed economy by 2047, we need to improve our learning outcomes, our health outcomes and nutritional standards in a very big way," he said.

He pointed out that states like Bihar, Jharkhand, Chhattisgarh, Rajasthan, and Madhya Pradesh, representing nearly 50 per cent of the country's population, need significant transformation. "It is very critical that we transform them. It is important that they become the key driver of improvement on the human development index," Kant said.

He elaborated that while the top 50 per cent of India’s population drives growth and prosperity, the bottom 50 per cent primarily lives in rural areas, depending on agricultural wage labour or government welfare for basic living standards."It is important that we transform the lives of these people to the bottom 50 per cent," Kant opined.