The Niti Aayog Chief Executive Officer, BVR Subrahmanyam on Wednesday said that the private sector must lead in innovation and investment, supported by an enabling environment that attracts both portfolio and direct investments.
While speaking at the Public Affairs Forum of India’s (PAFI) annual forum he said, India will be among the world's youngest nations demographically, poised for prosperity, with a projected per capita income of around USD 18,000 to USD 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,” he added.
The CEO said 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 globalisation, 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,” said Subrahmanyam.
He added, 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.
