Viksit Bharat: India's Big Leap

India’s 2047 vision hinges on industry, innovation, gender and collaboration to achieve a globally competitive and prosperous nation

- ANISH SHAH

INDIA'S VISION FOR a ‘Viksit Bharat’ by 2047 calls for all stakeholders to work in cohesion, doubling down on efforts to unlock the nation’s true potential. While the government must continue addressing bottlenecks and creating pathways for growth and prosperity, delivering these outcomes remains a key responsibility of the industry.

With this objective, the Federation of Indian Chambers of Commerce and Industry (FICCI) has outlined four key priorities for the year that align with the goals of Viksit Bharat. We have been actively engaging with our members to drive this agenda forward in order to deliver meaningful results.

MAKE IN INDIA

For India to emerge as a global manufacturing hub and a “product nation,” domestic manufacturing must undergo a significant transformation. Our aim should be to increase the global share in manufacturing from the current 3.1% to 12%, requiring a 16-fold growth in manufacturing GDP. To achieve this, we must position India as a high-quality producer, achieve scale, and localise innovation. Industry leaders can play a pivotal role in upgrading India’s quality testing infrastructure. Large companies should mentor MSMEs, particularly those in their value chains, by organising training programmes and facilitating exposure to new technologies and production processes through ‘go and see’ visits.

We must also strive for global leadership in Industry 4.0 technologies and self-reliance in strategic sectors. A comprehensive plan covering the entire value chain—from design to manufacturing—is essential, especially in high-tech areas like defence, electronics, and semiconductors.