The Problems India Ignores

What will India need to become a global economic powerhouse and a developed nation by 2047?

- PROSENJIT DATTA

Everyone, including this columnist, has pointed out that our gross domestic product (GDP) will need to grow consistently at over 7.5 per cent for a sustained period—ideally over 8 per cent (real GDP growth, not nominal).

What will help us grow in that manner? In my book—Will India Get Rich Before It Turns 100—I have pointed out that among the things we need to focus on are education and health care, without which no country has been able to take advantage of a demographic bulge. Apart from that, consistent, long-term, stable policies, improved logistics, manufacturing, and technology research and adoption are critical focus areas.

There are also looming threats, as well as opportunities, that policymakers need to develop strategies for. These include climate change and artificial intelligence. In addition, there is a need to develop and control the entire ecosystem in multiple critical areas—from key drugs to computer chips and rare earths—so that we are not dependent on other countries.

If we leave aside the big picture though, there are multiple issues that receive little attention simply because they do not require a grand vision. These issues slow our growth, despite many good policies and efforts by the government. They are often talked about informally among entrepreneurs—small, medium, and big—when no government representatives are present.

These are all genuine pain points that the average entrepreneur, worker, and citizen face daily, resulting in reduced efficiency, lower productivity, and wasteful spending.