Sitharaman calls for inclusive growth, skilling to achieve Viksit Bharat 2047 goal

Union Finance Minister Nirmala Sitharaman on Tuesday stressed that India's pathway to becoming a developed nation by 2047 must be anchored in inclusive growth, strong institutions and large-scale skilling. Speaking on the theme 'Viksit Bharat–Vision for 2047' at the inaugural Nitte Vinaya Hegde Oration under the aegis of NITTE University, the minister said India's development trajectory must go beyond headline economic indicators and ensure that opportunities reach smaller towns, rural regions and first-generation learners. She emphasised that growth must be ''broad-based and participative'', with every section of society contributing to and benefiting from economic progress. Sitharaman said a developed, stable, democratic and pluralistic India-the world's largest democracy and a bridge between the East and West and the Global North and Global South-is not only good for India, but for the world. ''Viksit Bharat is not the responsibility of the government alone. It is a national partnership between the union, states, local governments, entrepreneurs, industry, academia, professionals and every citizen. The government can build the platform, but the energy, ideas and discipline of 140 crore Indians will build Viksit Bharat,'' she said. The minister recalled that the first seven decades of independence were spent rebuilding the nation-with great difficulty, debates, and errors, but also moments of significant achievement. ''We are no longer sleeping. India is awake. And when India is awake, the world takes notice. Today, we are the world's fastest-growing major economy,'' she said. Sitharaman said that as India approaches the centenary of independence in 2047, it faces a choice-remain on an ordinary growth path and risk the ''middle-income trap'', or pursue an extraordinary path to progress. ''We can choose to be among the world's top economies. We can choose to give every Indian child clean water, quality education, affordable healthcare and a shot at prosperity. That choice is Viksit Bharat,'' she said. However, she cautioned that India must not mistake progress for completion. ''A developing India cannot be our final destination. A Viksit Bharat must be. Aspirations have changed,'' she said, adding that today a young woman does not dream of subsistence but of excellence. She seeks quality education, world-class healthcare, meaningful employment and a clean environment. ''She wants to compete globally and succeed confidently because in a rapidly changing global order, economic strength is the bedrock of strategic autonomy,'' she said. Sitharaman stressed that Viksit Bharat is not just about GDP numbers, but about something far more human. ''It is about the farmer in Kalyana Karnataka whose future is assured,'' she said, citing an example. The minister underlined that India's demographic dividend will translate into economic strength only if supported by sustained investment in education and skills. She said institutions must align curricula with evolving industry needs and technological changes, enabling youth to remain not only educated but also employable and entrepreneurial. ''Affordable access to professional training and continuous upskilling are critical to ensure that young people can build livelihoods and contribute productively to the economy,'' she said, stressing the importance of enabling first-generation entrepreneurs. Sitharaman also highlighted the role of traditional sectors alongside emerging industries. She said crafts, small enterprises and region-specific skills continue to hold strong potential in global markets and must be strengthened through technology, training and market linkages. Such sectors, she noted, are vital for employment generation at the grassroots level. ''India's demographic strength is one of its greatest assets, but it can become a dividend only if our youth are equipped with the right skills and opportunities,'' she said. Referring to India's global economic standing, Sitharaman said the country is increasingly viewed as a reliable partner and a driver of global growth. ''India today is seen as a reliable global partner, and we must leverage this trust to expand our manufacturing, services and export capabilities.'' She called for strengthening India's position in global value chains by expanding manufacturing capacity and boosting exports. The minister stressed that the goal of 'Viksit Bharat' is not merely higher growth, but equitable growth that improves livelihoods across all sections of society. ''The emphasis should be on capacity-building, innovation and ensuring that development reaches every region,'' she said. ''Our institutions must continuously adapt to changing industry needs so that young people are not just educated, but employable and capable of creating enterprises,'' she said. Sitharaman said India's progress towards 2047 would depend on sustained efforts to strengthen institutions, expand access to education and skills, and enable wider participation in economic growth. She added that empowering youth with relevant skills and opportunities would be central to achieving the country's long-term development vision.

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