Infra push, structural reforms to boost India's GDP to 7.5%: Amitabh Kant

30 Sep 2024 CW Team

Amitabh Kant, G20 Sherpa and former CEO of NITI Aayog, stated that the Indian economy is expected to grow by approximately 7.5 per cent, driven by extensive structural reforms and a significant focus on infrastructure development during Prime Minister Narendra Modi's third term. In an exclusive interaction with IANS in the national capital, Kant emphasised that initiatives such as 'Make in India,' 'Digital India,' and 'Startup India,' launched by Modi over the past decade, have positioned India as a serious global player.

Kant highlighted that capital expenditure and infrastructure development stand out as the government's success stories. The capital expenditure allocation of Rs 11.1 trillion, constituting 3.4 per cent of GDP, has been maintained in the Budget for 2024-25. He noted that the formalisation of the Indian economy has played a key role, with the 'Make in India' initiative, launched about ten years ago, proving to be highly successful. Similarly, 'Startup India' has fostered the growth of young entrepreneurs, helping India become the third-largest startup ecosystem in the world.

Kant further mentioned that the government has introduced several new initiatives, including the 'IndiaAI Mission,' 'National Quantum Mission,' 'India Semiconductor Mission,' and 'National Green Hydrogen Mission,' which are expected to unfold in the coming days and provide substantial benefits to the Indian economy.

He stressed that with strong GDP growth, robust manufacturing, and a continued focus on infrastructure, India is on track to become the world's third-largest economy. He also pointed out that AI has become a foundational technology across various industries amid this growth.

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