The sectoral groups of secretaries on Vision India @2047 will present their plans to the cabinet secretary later this week and share their strategies to make India a leading player across products and services by the country’s 100th year of Independence.
The government has already held industry consultations to set goals for 2024, 2030 and 2047 and identify focal points in technology, sunrise and futuristic areas.
“The groups will present their plans to the cabinet secretary this week. One group has suggested ways of making India a $40 trillion economy by 2047,” said a government official.
The government had set up some sectoral groups of secretaries to finalise the blueprint for the plan.
India’s nominal gross domestic product in FY22 is estimated at Rs 232.1 lakh crore, just over $3.1 trillion, well short of $5 trillion by FY25.
The ministries of commerce and industry, and textiles have discussed with exporters and industry benchmarking India’s regulations and key socio-economic indicators across all sectors to international standards, and a gap analysis between domestic and advanced international capabilities.
“We have discussed ways to develop both private and public Indian companies as global leaders by improving competitiveness and capacity,” said a textile industry representative.