Led by its all-round growth, India is billed to be the next superpower from economic, military and diplomatic or soft power perspectives. Anushka Singh describes how the government is strategising economic growth to pitchfork the country into the world’s top economic orbit. Listing steps across domains, she points out that the goals reflect the intent to sustain high economic growth rates, enhance productivity, and create a robust economic environment for both domestic and foreign investments.
As India strides into the third decade of the 21st century, the government’s vision for India 2030 embodies a comprehensive blueprint for the country’s development and progress. This vision is shaped by the ambition to transform India into a global economic powerhouse while addressing critical challenges in infrastructure, the economy, healthcare, education, and more.
The emphasis on economic growth and development cannot be stated enough given India is touted to be the next superpower from economic, military and diplomatic or soft power perspectives. The aspiration of becoming a ten-trillion-dollar economy is only a few determined, perseverant steps away.
The Indian government’s vision for 2030 includes the ambitious goal of propelling India into the ranks of the world’s top economies with a $10 trillion GDP. This goal reflects the intent to sustain high economic growth rates, enhance productivity, and create a robust economic environment for both domestic and foreign investments.
Strategising economic growth
Massive investments in infrastructure projects, including roads, highways, ports, and airports, aim to boost connectivity and facilitate economic activities. The Bharatmala Pariyojana and Sagarmala Programme are notable examples of this approach.
The Bharatmala Pariyojana ‘envisages development of about 26,000 km length of Economic Corridors, which along with Golden Quadrilateral and North-South and East-West Corridors are expected to carry majority of the Freight Traffic on roads. It is being undertaken by the Ministry of Road Transport and Highways, Government of India. The project also comprises construction and development of bridges, tunnels, elevated corridors, overpass, flyovers, interchanges, etc., for decongested and optimised transport connectivity.
A flagship initiative of the Ministry of Ports, Shipping and Waterways, the Sagarmala Programme represents the futuristic vision of the government of India ‘to transform the country’s maritime sector’. Considering the rich natural maritime features in India such as the extensive coastline, navigation-friendly waterways, trade routes, etc., Sagarmala ‘aims to unlock the untapped potential of these resources for port-led development and coastal community upliftment.’ The programme is set to transform India’s logistics prowess and impact the economy in a major way, syncing with the country’s economic goals and making it future ready.
Initiatives such as the Startup India campaign and the Atal Innovation Mission focus on fostering entrepreneurship and technological advancements. The government plans to create a supportive ecosystem for startups through funding opportunities, incubators, and regulatory reforms. In terms of India’s industrial policy, the Make in India initiative aims to strengthen the manufacturing sector by improving ease of doing business, encouraging foreign direct investment (FDI), and boosting domestic production.
Transforming digital economy
India@2030 envisions a digital economy where technology drives growth and innovation. The Digital India programme focuses on creating a digitally empowered society and knowledge economy. Some of the key digital initiatives include expansion of digital infrastructure where the government aims to increase internet penetration and digital literacy through projects like the National Optical Fiber Network and Digital Saksharta Abhiyan.
Another important step in the direction is the promotion of Fintech, so the Digital Payments ecosystem is being strengthened with initiatives like the Digital India Payments Ecosystem and the expansion of the Unified Payments Interface (UPI).
In this regard, modernisation of urban and rural infrastructure holds the key to growth. A key component of the vision for 2030 is the modernisation of both urban and rural infrastructure to support economic growth and improve quality of life.
As per industry experts, India’s internet economy will touch USD one trillion by 2030 owing to e-commerce primarily which is expected to reach USD 325 billion. India, with an ever-growing digital economy and internet user base, is on its way to becoming an e-commerce powerhouse by 2030. And, will be the frontrunner with five hundred million shoppers.
Urban infrastructure projects
Several initiatives taken by the present government in its pervious terms are set to transform India@2030. For example, the Smart Cities Mission to develop 100 smart cities across India, focusing on sustainable urban development, efficient public services, and improved urban mobility. Then, the Pradhan Mantri Awas Yojana (Urban) that is providing affordable housing to all urban poor families.
The urban infrastructure commitments are very important to make India future ready, globally strong and sustainable. As per some reports, in order to spur desired economic growth India must invest USD 4.5 trillion in infrastructure development.
Notably, it was during the Conference of the Parties (COP26) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Glasgow, UK that India announced its ‘green’ commitments – the Panchamrit of India’s climate action. These include:
- Reaching 500 GW Non-fossil energy capacity by 2030
- Achieving 50 per cent of its energy requirements from renewable energy by 2030 i.e., achieving 50 per cent cumulative non-fossil fuel-based power capacities by 2030
- Reducing the total projected carbon emissions by one billion tonnes from now to 2030
- Reducing carbon intensity of the economy i.e., reducing the emissions intensity of its GDP by 45 per cent by 2030 compared to the 2005 levels
- Achieving the target of net zero emissions by 2070
And, India committed to propagating a ‘healthy and sustainable way of life’ to tackle climate change. All these targets and processes are heavily dependent on the infrastructure sector which is why it’s important to ensure infra growth and development with a futuristic approach.
Rural development
The Pradhan Mantri Gram Sadak Yojana aims to improve rural road connectivity to ensure better access to markets, education, and healthcare. The Jal Jeevan Mission aims to provide safe and adequate drinking water to all rural households by 2024, with continued efforts for sustainability through 2030.
A central pillar of India@2030 is the aim to achieve universal healthcare coverage and improve public health outcomes. In this regard, the Ayushman Bharat Yojana was launched to provide health insurance coverage for economically vulnerable sections of society and the scheme aims to improve access to quality healthcare services. The initiative is designed to meet the Sustainable Development Goals (SDGs).
The National Health Policy 2017 outlines strategies for achieving universal health coverage, increasing public health expenditure, and addressing non-communicable diseases and is preparing India for challenges of the future. The government has been upgrading healthcare facilities and expanding the reach of health services.
There is a sustained emphasis on creation of Health and Wellness Centers that provide comprehensive primary healthcare services, focusing on preventive and promotive health measures. Additionally, there’s been a constant expansion of medical education and research through investments in medical colleges, research institutions, and public health programmes to build a robust healthcare workforce and advance medical research.
Education and environment
The vision for 2030 emphasises the need to improve the quality of education and make it accessible to all sections of society. The National Education Policy 2020 has introduced reforms to make the education system more holistic, flexible, and aligned with global standards.
Several skill development programmes are being designed and executed focussing on vocational training to bridge the gap between education and employability. The government aims to train millions of youths in various trades and skills. Investment in research and innovation is seen as critical to India’s future and for India@2030.
The vision for India@2030 includes a strong focus on environmental protection and sustainable development. The focus on clean energy transition can be seen from the government’s efforts to increase the share of renewable energy in the energy mix, with targets for solar and wind energy generation under the National Solar Mission and National Wind Energy Mission.
India@2030 envisions a proactive approach to climate change mitigation. The National Action Plan on Climate Change outlines strategies for reducing greenhouse gas emissions, promoting energy efficiency, and enhancing climate resilience.