February 14, 2022
India’s gross domestic product is expected to be Rs. 232.1 lakh crore in FY22.
Industry consultations are being held by the government to set goals for the upcoming decade and to identify focal points in tech, sunrise and futuristic areas.
India’s GDP is expected to touch US$5 trillion as estimated by FY25.
India also aims to become energy-Independent by the year 2047.
The Vision India @2047 plan is in motion and will be presented to the cabinet secretary later in the week, according to reports. The plan is a comprehensive strategy to ensure that India is leading across various industries by the country’s 100th year of Independence. Industry consultations are being held by the government to set goals for the upcoming decade and to identify focal points in tech, sunrise and futuristic areas.
The government has also put together a sectoral group of secretaries who will help formulate and conclude the blueprint for the plan. Nominally, India’s gross domestic product is expected to be Rs. 232.1 lakh crore in FY22 which is just over US$3.1 trillion short of US$5 trillion as estimated for FY25.
The Ministries of Corporate, Industries and Textiles have had various discussions with exporters that has also helped benchmarked India’s regulations and some key socio-economic indicators throughout various sectors, Internationally. Additionally a gap analysis was also conducted between domestic and International capabilities.
The purpose of these activities is to brainstorm and ideate to help advance institutional expertise and enhance government re-engineering processes, formulate a framework to position India as the world leader within the decade. India also aims to become energy-Independent by the year 2047.