New Delhi [India], May 24 (ANI): India stands at a crucial turning point, entering a “takeoff stage” that could accelerate its growth dramatically, said NITI Aayog CEO BVR Subrahmanyam on Saturday. Speaking after the 10th Governing Council Meeting chaired by Prime Minister Narendra Modi, he highlighted the progress states are making by aligning their development visions with national priorities while addressing local realities.
Subrahmanyam noted that India is on track to become the world’s third-largest economy within about three years. “India is at a takeoff stage where it can grow very, very rapidly,” he said. “We are currently the 4th largest economy and a $4 trillion economy. India is now larger than Japan. If we continue with the current plans and strategies, within 2.5 to 3 years, we will be the third largest economy.”
He added that 17 states have prepared or are close to releasing their vision documents, including Uttar Pradesh, Punjab, Andhra Pradesh, Tamil Nadu, and Gujarat, with others expected by August.
The Governing Council meeting’s main agenda was under the theme ‘Viksit Rajya for Viksit Bharat’, focusing on empowering states to develop their own growth visions that collectively contribute to national progress. Subthemes discussed included manufacturing, services, rural development, non-farm sectors, urban growth, informal economy, green economy, and circular economy.
Subrahmanyam emphasized Prime Minister Modi’s message that collaboration between the Centre and states is essential for achieving ambitious goals. He said, “The Prime Minister highlighted that states are where the action happens. Employment growth requires skilling and entrepreneurship. States must focus on manufacturing, improving services by removing bottlenecks, changing policies, easing business processes, and removing obsolete laws.”
PM Modi also stressed fostering an investment-friendly environment and healthy competition among states. He urged states to prioritize exports and leverage ongoing Free Trade Agreements (FTAs) with various countries to boost trade.
The vision articulated aligns with India’s long-term goals towards 2047, aiming for a developed India through state-led growth and collaboration. (ANI)
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