New Delhi: India stands poised at the threshold of a historic economic leap, aiming to escalate beyond a $3 trillion economy today to a $30 trillion global powerhouse, said B.V.R. Subrahmanyam, CEO of NITI Aayog, at the inauguration of Hindu College’s Public Policy Lab (PPL) in Delhi today. The ambitious goal highlights the need for a robust and innovative knowledge framework, vital for the nation's journey to becoming the world's second-largest economy.

Highlighting the transformative role of public policy, Subrahmanyam emphasized Prime Minister Narendra Modi's emphasis on inclusive knowledge sharing. "The Prime Minister encourages policymakers to gather knowledge from all walks of life. As India's economy grows, our ambition to realise Viksit Bharat (Developed India) intensifies, with a clear target of achieving an $18,000 per capita income," he said. The unique lab is funded under CSR initiative of Indian Railway Finance Corporation (IRFC) and Hindustan Steelworks Construction Limited (HSCL).

Subrahmanyam noted India's remarkable economic trajectory over the past decade, moving from a low-income to a middle-income nation, now aspiring towards becoming a high-income economy.

Echoing similar sentiments, Manoj Kumar Dubey, CMD & CEO, IRFC described the Public Policy Lab as "not merely a facility but a living, breathing idea." He affirmed IRFC’s commitment, stating, "IRFC is funding this initiative because we strongly believe in Prime Minister Modi’s vision. Under NITI Aayog’s guidance, we aim to significantly contribute to nation-building and achieving Viksit Bharat. Policy-making truly serves as the torch of knowledge."

Subrahmanyam asserted that a robust knowledge infrastructure is crucial for achieving these goals, pointing out the indispensable role of strong academic institutions such as Hindu College. Highlighting demographic trends, he noted that as global populations shrink, India and Africa will maintain stability, positioning India uniquely as a future global education hub. His remarks set the tone for a dialogue on the crucial interplay between education, policy innovation, and economic development.

Dubey highlighted the collaborative efforts between corporate entities and educational institutions, signalling the importance of synergy in translating visionary governance into reality.

Prof Anju Srivastava, Principal of Hindu College, emphasized the alignment of this initiative with the National Education Policy (NEP) 2020. She termed the lab "a cornerstone for interdisciplinary education and international academic collaborations," critical for shaping skilled policy professionals who can navigate future challenges.

Prof. B. Venkatesh Kumar, Mentor for the from Tata Institute of Social Sciences also highlighted the lab's potential to promote evidence-based policymaking, bridging the gap between academic research and practical governance solutions.

Currently, the Public Policy Lab hosts its flagship "Public Policy in Action" certificate program and plans further engagements through workshops, research collaborations, and academic partnerships, actively contributing towards India's ambitious developmental vision.

BI Bureau