India needs 8-9 percent growth to become a developed country by 2047: Deloitte – Dainik Savera Times
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New Delhi: India needs to grow at 8-9 percent for the next 20 years to become a developed country by 2047. Deloitte South Asia CEO Romal Shetty said this. It is noteworthy that Prime Minister Narendra Modi has called for working towards making India a developed country by 2047. Shetty said India can benefit from the China Plus One strategy as no other country can offer the scale and size of operations that is available here. Referring to the space sector, he said that there are already 200 startups in India and an investment of US $ 100 billion can come here by 2040.
“We need to grow at 8-9 per cent at least till 2047 to become a developed economy… we have to move beyond the middle income level… growing at this pace is not easy,” Shetty told PTI. There are very few countries in the world which are capable of growing at a rate of 8-9 percent annually. Modi had recently said in an interview to PTI that India will be among the top three economies in the near future. He had said, I am sure that by 2047 our country will be among the developed countries. Our economy will be even more inclusive. India is currently the fifth largest economy in the world after America, China, Japan and Germany.
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