It took about 58 years for India’s GDP to grow to $1 trillion, but only eight years to reach $2 trillion (by 2016). At current growth rates, it will take about five years to reach $3 trillion, and only three years after that to add the next trillion. Becoming a $10-trillion economy is now within India’s planning horizons.
But the real prize is larger than a mere number. India also has an opportunity to build a more inclusive, sustainable and equitable society, one that is an example to the rest of the world. Achieving that goal, however, requires successfully tackling several key developmental obstacles that stand in the way.
A Potent Cocktail
One such challenge is finding a path to sustainable urbanisation. India’s cities are home to 377 million people, a number that could reach 900 million by 2050. Meeting the infrastructure needs of India’s urban population while safeguarding the environment will require new, innovative models.
A second challenge is addressing gender inequality and increasing women’s participation in the economy. Women today contribute less than a fifth of India’s GDP and make up just 24% of the workforce, compared to 40% globally. Without much stronger participation from them, India will continue to fall short of its economic potential. Read More
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