New Delhi: With India’s century of independence 25 years away, the Federation of Indian Chambers of Commerce and Industry (FICCI), in partnership with McKinsey has launched ‘India’s Century – Achieving sustainable, inclusive growth,’ a multi-stakeholder initiative aimed at catalyzing actions to achieve the country’s full economic potential.
A launch paper for the initiative, released here recently, outlines a roadmap for what India can do to unlock opportunities to achieve sustainable and inclusive growth along key metrics by 2047 - potentially increasing per capita income six fold to Rs 10 lakh, achieving 600 million jobs, doubling female participation in the labour force to 45-50 per cent, cutting carbon emissions, and providing access to clean water for all.
With input from over 200 companies, the paper identifies 10 priority sectors for growth over the next 25 years, with a set of over 50 actions for companies and industry bodies, supported by the state and central governments, to unlock that growth.
Sanjiv Mehta, President, FICCI, said: “India is at an inflection point in its journey of becoming the third largest and an upper-middle income economy. The India’s Century initiative sets out an actionable roadmap for all stakeholders to unleash India’s potential in becoming an economic superpower much before India turns 100.”
“The industry will have to lead the way and build innovative solutions with a lens of People and Planet approach, while the government plays the role of an enabler to nurture the growth and ensure global competitiveness.”
Alok Kshirsagar, Senior Partner, McKinsey & Company, said: “Companies in India can now create millions of jobs and value through innovations that capture the full potential of digital transformation, energy transition, modern infrastructure development, and realignment of global supply chains. The India’s Century initiative provides a practical roadmap for 10 industry sectors and the capabilities required to deliver sustainable and inclusive growth for our country.” /BI/
