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More Reforms, Private Investments Must for India to Become $30 TN Economy
Mint Mumbai
|February 04, 2025
Turkey's Growth in Manufacturing Offers Valuable Lessons for India
India is charting an ambitious course toward its vision of a $30-trillion economy by 2047. To realize this, India must sustain double-digit growth over the next two decades. Hitherto, the services sector has been the engine that has powered the economy, but the manufacturing sector must also fire up for this vision to become a reality. Manufacturing must contribute 30%-plus to the incremental GVA to achieve our targets, significantly increasing its contribution from the current 15-17%, competing with its peers such as China (26%), South Korea (29%), and Vietnam (24%).
This story is from the February 04, 2025 edition of Mint Mumbai.
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