India can take a “winning leap” to achieve 9 per cent growth rate
India can take a "winning leap" to achieve 9 per cent growth rate
New Delhi: India can take a “winning leap” to achieve 9 per cent growth rate to become a $10 trillion economy by 2034 with concerted efforts by the corporate sector and a constructive role played by the government, a PwC report said on Monday.
“The world economic picture is pretty challenging in the next 12-18 months. Having said that we are talking about all the opportunities that are here in India and they are significant. I think with the right type of collaboration between government and private sector, the potential of this economy is much bigger than 5 per cent that is currently forecasting,” said Price-waterhouseCoopers (PwC) International Ltd chairman Dennis Nally said after releasing the report titled ‘Future of India — The Winning Leap’.
The report emphasised that for India to become a $10 trillion economy, a concerted effort from corporate India, supported by a vibrant entrepreneurial ecosystem and a constructive partnership with the government will play a critical role.
The report analyses that up to 40 per cent of India’s $10 trillion economy of 2034 could be derived from new solutions.
“A young demographics, paired with a burgeoning middle-class that is digitally enabled; is a once in a lifetime opportunity for India to develop economically and socially,” said Mr Nally.
He said that India can only build shared prosperity for its 1.25 billion people by transforming the way the economy creates value. “For India, to create 10-12 million jobs every year in the coming decades, corporations and entrepreneurs must work together to help deliver new solutions and build capabilities for growth,” he added.
( Source : dc correspondent )
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