Investment Strategies to Bridge India's Economic Divergence
NITI Aayog Vice-Chairman Suman Bery addresses India’s economic disparity between high and low-income states, emphasizing investment strategies tailored to each region. With ambitions for India to achieve developed nation status by 2047, the focus is on inclusive, resilient, and sustainable growth driven by unique development models.
- Country:
- India
India faces a notable economic divide, with high-income states comprising 26% of the population but contributing 44% to the GDP, while low-income states constitute 38% of the population yet generate only 19% of GDP. This disparity is a cause of concern, according to NITI Aayog Vice-Chairman Suman Bery.
Speaking at the 6th Economics Conclave, Bery highlighted the necessity for region-specific development strategies. He acknowledged the potential for growth in lagging states like Bihar and Uttar Pradesh, noting improved economic performance in some BIMARU states.
Bery stressed the importance of ambitious investments for India's goal to become a developed nation by 2047. Key strategies include growth that is inclusive, resilient, and sustainable, drawing on a unique development model, aiming for a USD 14,000 per capita income by 2047.
(With inputs from agencies.)
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