Economic Advisory Council to Prime Minister, EAC-PM today released the Competitiveness Roadmap for India@100 in New Delhi. The document was released in the presence of Chairman EAC-PM Dr Bibek Debroy, India’s G20 Sherpa Amitabh Kant, Member of EAC-PM Sanjeev Sanyal and Dr Christian Ketels from Harvard Business School.
In his address, Dr Debroy highlighted the importance of looking at economic trends to ascertain what India needs to do to be a highly prosperous country by 2047. He said, consumption, investment, government expenditure and net exports are the real growth drivers. The Chairman of EAC-PM said, there are four ways to analyse economic growth, slicing the drivers of growth, sectoral slice, looking at factor inputs and regional disparity. He said, since 2014 Government have been taking several steps to remove inequity and inequality through different Schemes like Aspirational District Programme and Ujjwala.
Dr Debroy said, if country’s development trajectory has to emerge faster, higher and stronger, both government policies and the enterprises and markets functioning in the environment set by the former are of great significance. Adding emphasis to the importance of a renewed approach to development, G20 Sherpa Amitabh Kant said, in an ever-evolving global context, India is working towards presenting a sustained growth model based on ease of living for its people and ease of doing business for its industries. He said, the emphasis is not just on attaining the ambitions set for India but also on how the country gets there.
The Competitiveness Roadmap is a collaborative endevour between EAC-PM, the Institute for Competitiveness headed by Dr Amit Kapoor and Professor Michael E. Porter and Dr Christian Ketels from Harvard Business School. In a video message, Professor Michael Porter mentioned that the competitiveness framework underlying the roadmap offers a strategic perspective on how to translate the diagnostics on a country’s competitiveness fundamentals into actionable insights. He said, the solution does not lie in narrow interventions.
Prof. Porter said, what is needed to accelerate progress is a clear strategy enabling action to focus on key priority areas. In a presentation, Dr Christian Ketels highlighted the importance of building a complete understanding of India’s strengths and its unique advantages, which can help enhance the country’s overall national value proposition.
He said understanding India’s competitiveness challenges and opportunities also help gain insights into the challenges and opportunities that the world is facing. Mr Ketels said, how India manages to address its major challenges will have a bearing on how the world tackles these challenges. He said, India’s performance matters.
The roadmap stands to inform and guide the way for India to become a higher-income country by 2047. It proposes policy goals, principles and approaches to further drive India’s economy in the direction of sustainability and resilience, embedded in social progress and shared prosperity.
