India should aspire to become 2nd or 3rd largest economy by 2047: NITI Aayog VC

New Delhi: There is a need to convert development into mass movement, and India should aspire to become second or third largest economy in the world by 2047, Niti Aayog Vice Chairman Rajiv Kumar said on Sunday. Addressing a webinar organised by Bharatiya Shikshan Mandal, Kumar pointed out that private sector investment is necessary for the economic growth of India.

“Today we need to convert development into Jan Andolan (mass movement)… India should aspire to become second or third largest economy by 2047,” Niti Aayog Vice Chairman said. Presently, India is the fifth largest economy in the world. Kumar also said if India generates enough employment opportunities then economic growth will happen. He pointed out that COVID-19 pandemic has shown weaknesses of Indian society.

“80 per cent of our workers are below the radar, we don’t have data about them. We will have to go back to the drawing board and business as usual will not do,” Kumar noted. Referring to rising protectionism across the world, he said for a very long time, India will have to import technology because the country has lost lots of time.

Kumar also stressed on removing mistrust between the government and entrepreneurs.