At the Public Affairs Forum of India’s (PAFI) 11th Annual Forum, Shri BVR Subrahmanyam, CEO, NITI Aayog, Government of India said, “Our economy should easily double by 2023”.
Shri Subrahmanyam emphasized that by 2047, India will be among the world's youngest nations demographically, poised for prosperity, with a projected per capita income of around $18,000 to $20,000. This growth is significant as India is expected to emerge as a major global player, building on the substantial progress made over the past decade in addressing challenges such as natural disasters and poverty. By mid-2025, many basic issues are anticipated to be resolved, setting the stage for robust economic advancement.
Shri Subrahmanyam said India stands at a pivotal moment in its journey toward becoming a global powerhouse, with projections indicating an economy of $38 trillion and a youthful population that strengthens its global position. As a ‘Vishwamitra’ and ‘Vishwabandhu’, India’s rise benefits the world, particularly through its climate and green technologies leadership. India’s ambition to become the third-largest economy by 2026-2027 necessitates a cohesive grand strategy, prioritizing the resolution of the middle-income trap as a critical challenge to our long-term aspirations.
Shri Subrahmanyam added that urban development and infrastructure are crucial, with cities designed as economic hubs to drive growth. The private sector must lead in innovation and investment, supported by an enabling environment that attracts both portfolio and direct investments. Additionally, reforming supply chains is essential for navigating globalization, while India’s emphasis on Atmanirbharta fosters trade on our own terms. By establishing itself as a solutions hub for engineering and promoting "Make in India" as a hallmark of quality, India can create a strong base for global markets. Ultimately, reforms at the state level and a commitment to cooperative federalism will ensure inclusive growth, positioning India to emerge as a global giant and lead into a prosperous future.
The welcome note was given by Deepshikha Dharmaraj, President, PAFI, Chief Executive Officer, Burson Group; the event was moderated by Harish Krishnan, Past President & Co-Founder, PAFI, Managing Director and Chief Policy Officer, Cisco India and SAARC, and the vote of thanks was given by T. S. Vishwanath, Director General, Past President & Founding Member, PAFI Co-Founder & Partner, VeKommunicate.
PAFI (Public Affairs Forum of India)
Founded in 2008, the Public Affairs Forum of India (PAFI) is India’s premier organization focused on public affairs, policy advocacy, and corporate affairs in India. PAFI represents a diverse array of Indian and foreign companies, promoting ethical dialogue and professional growth. Its objectives include aligning business, society, and government, fostering trust, and developing collaborative policies. PAFI organizes impactful events, including its annual forum, which unites industry leaders and policymakers for meaningful discussions. With a strong commitment to transparency and inclusion, PAFI aims to build a well-informed public affairs community to address contemporary challenges in India.
For more details:
Visit: www.pafi.in and Twitter: @PAFI_India
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