Fueling Growth: India's Economic Future

India's economy is poised to grow by 6-8% in real terms and 10-13% in nominal terms over the next five years, supported by moderate inflation. Union Minister Ashwini Vaishnaw emphasized the need for bureaucratic alignment with political intentions and highlighted telecom reforms reducing installation times significantly.

Union minister Ashwini Vaishnaw projected India's substantial growth trajectory, forecasting a 6-8% growth in real terms alongside a nominal increase of 10-13% over the next five years. Speaking at the World Economic Forum, he recognized the favorable conditions of moderate inflation and robust growth as key drivers of this economic expansion.

Vaishnaw drew attention to significant reforms in the telecom sector, where installation times for towers have dropped from 270 days to just 7, attributing this to streamlined permission processes. He also emphasized the need for political and bureaucratic alignment for efficient governance.

Highlighting India's strategic trade diversification, Rajiv Memani urged a focus on increasing per-capita income fivefold by 2047. Meanwhile, CII Director General Chandrajit Banerjee pointed to India's stable market as an opportunity amidst global economic uncertainty, echoed by diverse sectors represented at the roundtable.

(With inputs from agencies.)