Building a Developed India by 2047: Sitharaman’s 4-Pillar Strategy

Union Finance Minister Nirmala Sitharaman said that the Indian government is focusing on 4 main areas—infrastructure, investment, innovation, and inclusiveness—to make India a developed nation by 2047. 

She shared this vision during a talk with students at the Wharton School of the University of Pennsylvania while on her way to Washington, D.C., to attend meetings with the International Monetary Fund and the World Bank.

Sitharaman explained that by 2047 when India celebrates 100 years of independence, the goal is to become a developed country. To achieve this, infrastructure is key, both physical, like roads and bridges, and digital, which is crucial for many sectors. Investment is the second focus area, with private and public investments needed to drive growth.

The third focus is innovation, which is important for creating solutions tailored to India’s unique challenges. She emphasised that importing solutions from abroad could be costly and may not fit India’s needs. Lastly, inclusiveness is vital—ensuring everyone has access to resources and opportunities, including farmers, women, youth, and the poor.

Finance Minister Nirmala Sitharaman said that India wouldn’t have become one of the fastest-growing economies without people using the country’s digital infrastructure. She stressed how important digital infrastructure has been in helping India’s economy grow rapidly.

Sitharaman pointed out that free digital access, along with awareness programs in local languages, made it easier for people across the country to adopt technology. This digital outreach has empowered millions to access various services and opportunities.

Finance Minister Nirmala Sitharaman also discussed how the Digital Public Infrastructure (DPI) has changed how people access essential services in India. It has made connecting with government programs easier for those in remote areas.

Sitharaman emphasised that this digital transformation has fueled economic growth and made India a leader in digital change, benefiting both its people and the economy. She stated that this strong digital foundation is a major reason for India’s rapid economic development in recent years.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.