India will provide 25% of global workforce and contribute 15% of world GDP by 2047: Scindia

Union Minister Jyotiraditya Scindia has said that India has to focus on “building capability, capability and capability” as the country is on the road to providing “25 per cent of the total global workforce and contributing 15 per cent of global gross domestic product by 2047”.

“India has shown that the Indian way of globalisation will show the path for globalisation that will be balanced, decentralised, symmetrical and pivoted on territorial integrity,” Scindia said at the India Ideas Conclave here on Saturday.

Speaking on India @2047 at the conclave organised by India Foundation, the minister said if democracy was prospering in different parts of the world, “some level of the credit should come to India”.

According to Scindia, there are eight pillars for the India model, which “had shed the socialist straitjacket and myopic ideas and replaced them with Atmanirbhar Bharat”.

The BJP-led government has been transforming the country by empowering the people through direct benefit transfer, the minister said. Scindia said that in the past eight years, $200 billion was distributed among 950 million people—$86 per person, adding that central schemes would benefit every citizen and the per capita income would rise above Rs 4 lakh by 2047. This was Rs 53, 000 in 2010-11.

According to the minister, the second pillar is infrastructure development focusing on the streamlining of logistics for urban areas and on last-mile connectivity for rural areas. Technology will be the third pillar. “Technology today is all pervasive—India has moved a long way in it. The amount of digital transactions happening in India is equal to the GDP of 21 countries,” he said. India’s power is that it has a billion people with their biometrics digitised and there are a billion bank accounts, he said.

According to Scindia, the fourth pillar will be the “paradigm shift” in the GDP position. With production-linked incentive schemes in place in sectors like telecom, semiconductor and drones, 35 per cent of India’s GDP will be from manufacturing, 10 per cent from the agrarian sector and 55 from the service sector, he said, adding that the transformation of the tier-two cities into tier-one cities would further strengthen the economy. The minister listed the rise of the urban economy as the fifth pillar.

Scindia said demographic power would be the sixth pillar and India would provide 25 per cent of the global workforce. While diplomacy and diaspora, which Union minister said Prime Minister Narendra Modi had reinvented to India’s advantage, will be the seventh pillar and India’s global standing will be the eighth one. “The geopolitical climate is incrementally favourable to India, thanks to our foreign policy,” he said.

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