In my idea I believe India has it takes to be a developed country. The most populated nation in world with good majority of them are youth, this country is well represented in the list of the richest men in the world and has a very industrious nation.
What I think is that the Indian can tap into their national resources with is their number and then really create a very strong empire. The can start to rebrand some of their industries especially their automobile industries, with they Already have TaTa mobile and some other companies. India can begin to export goods that are high in demand and the most important of them All is good governance.
Topic: India as a developed country by 2047 - page 3. (Read 434 times)
I think if we are talking about 25 years ahead, with right set of governance it's a very realistic goal. 25 years is a good enough time to change any nation. It's because 25 years is a time span where atleast two of your school-going population will become the workforce. This means if focused correctly on education these people can become the best brains of the country. Not to forget India is already growing at a good stage only major challenge which we have is Overpopulation which can be turned into an advantage as well if the dependent population can be reduced, second is brain-drain due to which a hell lot of population is moving outside, this needs to be stopped really, third I feel is Lack of cheap healthcare facilities which can be changed easily in the coming years. Given this India can easily become a developed nation.
I think, the first and foremost goal is to make India a $5T economy. This will happen through stock market movement. With the current pace of growth of Indian stock market indices, i.e. SENSEX and NIFTY, I think, this is achievable.
1. Most of the countries are already favouring India over other countries for production of raw materials and even finished goods due to better quality and affordable price.
Therefore I do think that big companies are not only targetting India but they are also improving the production as well here, soon enough you won't have to ask your friends from other countries to come and carry around your iphones.
2. India's economic growth is increasing tremendously which also means that after surpassing UK it would soon be able to surpass other countries as well, one should understand that countries like UK are only economically ahead because of the population overexplosion in India, this we need to get it controlled first.
Therefore I do think that big companies are not only targetting India but they are also improving the production as well here, soon enough you won't have to ask your friends from other countries to come and carry around your iphones.
2. India's economic growth is increasing tremendously which also means that after surpassing UK it would soon be able to surpass other countries as well, one should understand that countries like UK are only economically ahead because of the population overexplosion in India, this we need to get it controlled first.
If I am not wrong India is already on the track of making it and there is no surprise if the goal reaches sooner than expected because we all know they are becoming more and more powerful in both World politics and economics, governments also support them a lot to lower the supremacy of China in many fields.
From here to there, things will happen that we probably can't even imagine today. Let's imagine, for example, how the use of the Internet in the world was 25 years ago compared to today.
Regarding wealth inequality, I agree that governments should guarantee education for all and access to healthcare, which does not necessarily have to be managed exclusively by the public sector. I hope that with the development of the country, these aspects will improve.
What I tend to believe is that the solution to poverty problems does not usually come from a politician making laws, rather it usually comes from letting people progress with their initiatives without crushing them with taxes and regulations.
Regarding wealth inequality, I agree that governments should guarantee education for all and access to healthcare, which does not necessarily have to be managed exclusively by the public sector. I hope that with the development of the country, these aspects will improve.
What I tend to believe is that the solution to poverty problems does not usually come from a politician making laws, rather it usually comes from letting people progress with their initiatives without crushing them with taxes and regulations.
India celebrated it's 75th Independence on August 15, 2022. During this celebration, the prime minister, Narendra Modi set an ambitious goal for the country, which is to become a developed nation by the time India celebrates its 100th Independence Day in 2047. India’s per capita income has keep increasing in recent years.
This is still far behind the per capita income of the developed countries like USA, UK, Japan, South Korea. As at now, India is a lower-middle-income country as per the World Bank classification.
India has to cross upper-middle income economy status before becoming high-income economy. At present, India’s economy is facing several challenges such as inflation and high wealth inequality.
How can India become a developed country:
👉👉The government must put a priority on the social and economic development of the nation, for which appropriate government schemes must be implemented.
👉👉There must be reduction in wealth inequality and improvement in HDI score: The government should increase the spending on public services such as healthcare, education, transportation etc.
👉👉Increasement in foreign investments: This will help to improve economic opportunities of the nation and bring in more foreign investment and more jobs. The government needs to provide a significant boost to the manufacturing sector for economic growth.
Reference: https://www.groupdiscussionideas.com/india-as-a-developed-country-by-2047/
CONCLUSION
Although almost all country are face with inflation recently, some adjustments in the economic sector can help to ease the citizen as well improve the country's development.
This is still far behind the per capita income of the developed countries like USA, UK, Japan, South Korea. As at now, India is a lower-middle-income country as per the World Bank classification.
India has to cross upper-middle income economy status before becoming high-income economy. At present, India’s economy is facing several challenges such as inflation and high wealth inequality.
How can India become a developed country:
👉👉The government must put a priority on the social and economic development of the nation, for which appropriate government schemes must be implemented.
👉👉There must be reduction in wealth inequality and improvement in HDI score: The government should increase the spending on public services such as healthcare, education, transportation etc.
👉👉Increasement in foreign investments: This will help to improve economic opportunities of the nation and bring in more foreign investment and more jobs. The government needs to provide a significant boost to the manufacturing sector for economic growth.
Reference: https://www.groupdiscussionideas.com/india-as-a-developed-country-by-2047/
CONCLUSION
Although almost all country are face with inflation recently, some adjustments in the economic sector can help to ease the citizen as well improve the country's development.
It's a bit of a bizarre proclamation to make, being a developed country is a bit more than just reaching a certain level of GDP per person. What's crazy is China has vastly overtaken India in the last couple decades to become a manufacturing hub and used all of that knowledge to slowly upskill their workforce. India has pretty much stood still or even gone backwards in that time, they have a lot of cottage industry but are not thinking strategically when it comes to business planning. With their recent decision to side, or at least make economic gain, with Russia in the war they started against Ukraine - they will increasingly be looked at with suspicion and this can harm their future development for a few short term gains.
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India celebrated it's 75th Independence on August 15, 2022. During this celebration, the prime minister, Narendra Modi set an ambitious goal for the country, which is to become a developed nation by the time India celebrates its 100th Independence Day in 2047.
Congratulations and happy independence to India.
The goal the prime Minister set is one of those bogus political goals that never get fulfilled, it is on occasions like this that we hear politicians promise things, set goals that they never live up to, or even try to fulfill.
I am not an indian, but I do have a family member there, and let's just hope they work towards achieving the goal, for the good of the country and its citizens.
Quote
Although almost all country are face with inflation recently, some adjustments in the economic sector can help to ease the citizen as well improve the country's development.
India celebrated it's 75th Independence on August 15, 2022. During this celebration, the prime minister, Narendra Modi set an ambitious goal for the country, which is to become a developed nation by the time India celebrates its 100th Independence Day in 2047. India’s per capita income has keep increasing in recent years.
This is still far behind the per capita income of the developed countries like USA, UK, Japan, South Korea. As at now, India is a lower-middle-income country as per the World Bank classification.
India has to cross upper-middle income economy status before becoming high-income economy. At present, India’s economy is facing several challenges such as inflation and high wealth inequality.
How can India become a developed country:
👉👉The government must put a priority on the social and economic development of the nation, for which appropriate government schemes must be implemented.
👉👉There must be reduction in wealth inequality and improvement in HDI score: The government should increase the spending on public services such as healthcare, education, transportation etc.
👉👉Increasement in foreign investments: This will help to improve economic opportunities of the nation and bring in more foreign investment and more jobs. The government needs to provide a significant boost to the manufacturing sector for economic growth.
Reference: https://www.groupdiscussionideas.com/india-as-a-developed-country-by-2047/
CONCLUSION
Although almost all country are face with inflation recently, some adjustments in the economic sector can help to ease the citizen as well improve the country's development.
This is still far behind the per capita income of the developed countries like USA, UK, Japan, South Korea. As at now, India is a lower-middle-income country as per the World Bank classification.
Quote
India has to cross upper-middle income economy status before becoming high-income economy. At present, India’s economy is facing several challenges such as inflation and high wealth inequality.
How can India become a developed country:
👉👉The government must put a priority on the social and economic development of the nation, for which appropriate government schemes must be implemented.
👉👉There must be reduction in wealth inequality and improvement in HDI score: The government should increase the spending on public services such as healthcare, education, transportation etc.
👉👉Increasement in foreign investments: This will help to improve economic opportunities of the nation and bring in more foreign investment and more jobs. The government needs to provide a significant boost to the manufacturing sector for economic growth.
Reference: https://www.groupdiscussionideas.com/india-as-a-developed-country-by-2047/
CONCLUSION
Although almost all country are face with inflation recently, some adjustments in the economic sector can help to ease the citizen as well improve the country's development.
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