New Delhi: India needs 7 to 8 per cent growth to become Viksit Bharat by 2047, which needs more investment from the private sector as well as strong export growth, Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), said on Tuesday.
Speaking to reporters on the sidelines of a FICCI India event here, he said that “private sector investment is equally important and also export growth important. Prime Minister Narendra Modi has mentioned about ‘Atmanirbhar Bharat’, that is equally important”.
Dev further said that structural reforms implemented over the last few years laid the groundwork for this trajectory.
India’s GDP growth was estimated at a robust 7.8 per cent in the January-March quarter (Q4) of 2025-26, as result of which the growth rate for the full financial year works out to 7.7 per cent on the back of a strong performance of the agriculture, construction, and services sectors, according to latest data released by the Ministry of Statistics.
The secondary sector recorded a strong 8.8 per cent growth while the tertiary sector grew by 9.9 per cent, according to the official statement. The primary sector recorded a 3.2 per cent growth, mainly driven by the performance of the agriculture and fisheries sectors.
Manufacturing, trade, repair, hotels, transport, communications and services related to broadcasting, storage, financial, real estate, and professional services sectors have attained double-digit growth during 2025-26, the official statement said.
This reflects the massive investments by the government in big-ticket infrastructure projects, such as highways, railways, ports and airports, which have helped to drive up the growth rate as India continues to be the fastest-growing economy amid the global slowdown.
Dev said he is glad that FICCI is organising this important innovative crop nutrition conclave, and inviting all the stakeholders, including the farmers, on a common platform.
“I’m also happy to know that they have a task force on innovative crop nutrition. As you know, the future of plant nutrition will be a collaborative effort between farmers, industry, and the government,” he mentioned.
(IANS)
