India Targets Sustainable Development To Become Developed Nation By 2047: Economist Shamika Ravi

New Delhi, Aug 13 (KNN) In a departure from traditional growth models, India is aiming to become a developed nation by 2047 through a sustainable approach, according to economist Shamika Ravi, Member, Economic Advisory Council to the Prime Minister.

Speaking at the 'Youth Sabha 2047: Shaping India's Future' event in New Delhi, Ravi emphasised that India would not follow the ‘growth at all costs’ strategy adopted by OECD countries, reported Livemint.

Instead, the nation is committed to a growth trajectory that is both equitable and environmentally responsible.

The government's Viksit Bharat @2047 vision outlines ambitious targets, including expanding the GDP from USD 3.4 trillion to USD 30 trillion by 2047.

This comprehensive plan encompasses economic growth, social progress, good governance, and environmental sustainability.

Key environmental goals include achieving 90 per cent green grid capacity, transitioning to all-electric vehicle sales by 2035, and shifting heavy industries towards green hydrogen and electrification.

Projections suggest India's CO2 emissions will peak in the early 2030s and decrease significantly by 2047, aligning with Prime Minister Narendra Modi's commitment to achieve net-zero emissions by 2070.

Ravi highlighted the importance of engaging India's youth in realising these sustainable development goals. She called for young people to mobilise, innovate, and take risks in developing scalable business solutions that address existing problems through new technologies.

The economist also pointed to initiatives like the LiFE (Lifestyle for Environment) project, which aims to instil environmentally conscious behaviours from an early age, as crucial for long-term sustainable growth.

As India pursues this green transition, it stands out as a low per capita income country investing significant resources in sustainable development.

This approach marks a notable shift from historical industrialisation patterns and positions India as a potential model for sustainable economic growth in the developing world.

(KNN Bureau)