India Eyes High-Income Future: A Vision for 2047

India is advancing its economic vision to become a high-income economy by 2047, focusing on inclusive growth and global collaboration. Finance Minister Nirmala Sitharaman highlighted key initiatives and fiscal targets at international forums. She emphasized social empowerment, infrastructure development, and sustainable growth as vital components of this vision.

India is taking significant strides towards becoming a high-income economy by 2047, aiming for inclusive growth and social empowerment, Union Finance Minister Nirmala Sitharaman announced on Friday. Addressing global financial leaders, she highlighted India's commitment to international collaboration.

Sitharaman stated that the government targets USD one trillion in merchandise exports by 2030 through enhanced logistics, trade reforms, and global value chain integration. At the World Bank's Development Committee meeting, she reaffirmed India's focus on sustainable growth benefiting both the nation and the global community.

Key initiatives, such as the PM Ujjwala Yojana and Swachh Bharat Mission, have improved service access and financial inclusion. With sectors like female labour force participation on the rise, India aims to continue its policy trajectory, aiming for a 7.2% GDP growth in 2024-25.

(With inputs from agencies.)