Summary:

According to Chief Economic Advisor V. Anantha Nageswaran, India needs to create at least eight million jobs per year and significantly increase the manufacturing share of its GDP to become a developed nation by 2047. Speaking at the Columbia India Summit 2025, he highlighted the challenge of balancing labor-centric growth with technological advancements in AI, robotics, and automation, which could threaten entry-level and low-skilled service jobs.

He emphasized the importance of integrating Indian businesses into global value chains and strengthening the MSME sector, which is crucial for manufacturing-led growth. While India’s postpandemic growth has averaged over 8%, sustaining a 6.5% growth rate amidst global challenges is vital. Domestic reforms, deregulation, R&D, and logistics development are key, as well as investment efficiency and resilience to geopolitical pressures. UNCTAD forecasts 6.5% growth by 2025.

Source: IBEF

Disclaimer:

The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.