India must steer clear of Middle-Income trap: NITI doc

India’s Vision for 2047: NITI Aayog’s Strategic Approach

New Delhi: NITI Aayog has identified key structural challenges for India, including upgrading manufacturing and logistics capabilities and bridging the rural-urban income gap. In a document titled ‘Vision for Viksit Bharat @ 2047: An Approach Paper’, the Aayog stressed the need to avoid falling into the Middle-Income trap and work towards breaking out of it.

Discussed during the ninth Governing Council meeting chaired by Prime Minister Narendra Modi, the document emphasizes the importance of balancing energy, security, access, affordability, and sustainability. It highlights the necessity of enhancing industry competitiveness to transform the agricultural workforce into an industrial one, positioning India as a global manufacturing and service hub.

The document underscores the collective effort required from the entire nation to achieve India’s vision, stating that the 21st century holds the potential for India to shine on the global stage. It calls for a unified approach towards sustainable growth and development.

India stands at a crucial juncture in its history, with the document outlining a path for the country to leverage its strengths and emerge as a confident player in the future.

Published 27 July 2024, 17:00 IST