India is set to drive 20 per cent of the world's economic growth over the next decade, with aspirations to become the third-largest global economy, G20 Sherpa Amitabh Kant said.
Speaking at the AIMA convention, Kant highlighted that India remains the fastest-growing large economy and currently ranks as the fifth-largest economy.
"In the next three years, we will overtake Japan and Germany to be the third largest economy in the world," Kant said. "In a world that is starved for growth, India is an outlier and has emerged as a very resilient powerhouse driving growth."
Kant described the current economic shift as a "once-in-a-generation" event, noting the country's remarkable transition from being part of the "fragile five" to the top five economies within a decade.
Looking ahead, Kant emphasised the need for India to address disparities in rural areas, improve health outcomes, and enhance nutritional standards to achieve developed nation status by 2047.
He stressed the importance of transforming states like Bihar, Jharkhand, Chhattisgarh, Rajasthan, and Madhya Pradesh, which together constitute nearly 50 per cent of the country's population.
"It is very critical that we transform them," Kant said. "They must become key drivers of improvement in the human development index."
Kant also noted that India's economic growth is driven by the top 50 per cent of the population, while the bottom 50 per cent, primarily in rural areas and dependent on agriculture or welfare schemes, needs significant improvement.
"It is important that we transform the lives of these people," he added.
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