🇮🇳 Can India become a developed country by 2047? Prime Minister Narendra Modi’s bold declaration has sparked global curiosity—and skepticism. With elections underway, his ‘Viksit Bharat 2047’ (Developed India 2047) slogan is now central to his campaign, promising economic dominance. But experts warn the path is riddled with hurdles.
The Big Promise
Since March, Modi has mentioned ‘Viksit Bharat’ in 23 of 29 speeches, per Bloomberg. India’s GDP growth hit 7.7% in 2023, up from 6.5% in 2022. Yet Oxford Economics says 8% annual growth is needed until 2047—a rate India’s never achieved. 😮💨
Challenges Ahead
Infrastructure gaps, uneven education, and a shortage of skilled workers loom large. Bureaucracy, caste dynamics, and high tariffs add complexity. Plus, ‘capital-intensive growth’ isn’t creating enough jobs for India’s youth, says Liu Xiaoxue of CASS. 🌾👩💻
Sector Struggles
Agriculture employs 45% of workers but contributes less GDP than services or manufacturing. Services drive growth but don’t hire enough, while manufacturing lags at 15.8% of GDP. Can Modi’s plan pivot to labor-intensive industries? The clock’s ticking. ⏳
