It's All About Shared Prosperity

This is India’s moment to shine. And for this, the country would need all stakeholders. Not just government, but also enterprises and civil society

- SANJIV PURI

It is widely acknowledged that this is India’s moment. There is a growing groundswell of opinion that India, over the next five years, would become the third-largest economy in the world and recent forecasts indicate that it could well be a $7-trillion economy by 2030. The bold climate commitments, including the net-zero goal, underline India’s response to the existential crisis of climate change and frequent extreme weather events that threaten to undermine progress. Thus, India is forging a new growth paradigm of a low carbon development model that is unique and unprecedented, posing challenges of a much higher order of magnitude compared to any of the growth models witnessed hitherto.

While the challenges are many, we are at the cusp of an era that is full of opportunities. Favourable demographics, rising incomes, urbanisation and aspirational consumers on one hand, and the evolving world of AI, digital, rapid technology development on the other have pervasive implications across the economy. It is evident that competitiveness is central to reaping the benefits of India’s strengths and achieving the Prime Minister’s inspiring vision of Amrit Kaal, which envisages rapid growth with social equity and environmental sustainability. I would term this approach as Responsible

Competitiveness. No single organ of society can accomplish all of this and, hence, partnerships hold the key—partnerships that leverage complementary strengths and enable meaningful contribution, not only from governments but also from all organs of society including enterprises and civil society.