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India needs to avoid financialisation as it marches towards Viksit Bharat goal, says Nageswaran

YourStory

YourStory · 10m ago

India needs to avoid financialisation as it marches towards Viksit Bharat goal, says Nageswaran

India's Chief Economic Advisor, V Anantha Nageswaran, has highlighted the need for India to avoid 'financialisation' as it aims to become a developed nation by 2047. Currently, India's stock market capitalization is around 140% of its GDP, which raises concerns about the dominance of market considerations in public and policy discourse. Nageswaran warns that financialisation could lead to high levels of debt, reliance on asset prices for economic growth, and a surge in inequality. He emphasizes the importance of finding a balance between national imperatives and investor interests, while retaining policy autonomy and insulating the economy from global capital flows.

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India needs to strive to be $30T economy with per capita income of $18,000: NITI document

YourStory

YourStory · 12m ago

India needs to strive to be $30T economy with per capita income of $18,000: NITI document

India aims to become a $30 trillion economy with a per capita income of $18,000 by 2047, according to a paper by NITI Aayog. Titled 'Vision for Viksit Bharat @ 2047: An Approach Paper', it emphasizes the need for India to avoid the middle-income trap. The paper states that achieving high-income status requires sustained growth of 7-10% for 20-30 years. It identifies challenges such as upgrading manufacturing and logistics capabilities and reducing the rural-urban income gap. The goal is to make India a global manufacturing and service hub while ensuring energy security, accessibility, affordability, and sustainability.

$10-trillion economy: Finance Commission chief Arvind Panagariya says India on track to achieve goal

Business Today

Business Today · 4m ago

$10-trillion economy: Finance Commission chief Arvind Panagariya says India on track to achieve goal

Arvind Panagariya, Finance Commission Chief, believes India is on track to become a $10 trillion economy by maintaining a 10.1% growth rate over the next decade, despite recent modest short-term estimates. He highlights the economy's recovery in the third quarter, emphasizing that temporary setbacks shouldn't overshadow long-term growth potential. Achieving the "Viksit Bharat" goal is feasible with a 7.3% compound annual growth rate.

Ensure no more WhatsApp messages on ‘Viksit Bharat’ are sent, ECI tell IT ministry

Economic Times

Economic Times · 1y ago

Ensure no more WhatsApp messages on ‘Viksit Bharat’ are sent, ECI tell IT ministry

The Election Commission of India (ECI) has directed the Ministry of Electronics and Information Technology to stop delivering messages related to the Viksit Bharat Model via WhatsApp during the ongoing model code of conduct (MCC) period ahead of the general elections. The ECI received complaints that such messages were still being delivered to citizens' phones. Users had previously received messages from a WhatsApp number registered to the IT ministry, seeking support for building a Viksit Bharat. The IT ministry stated that some messages may have been delivered after the MCC started due to network limitations.

India's Path To Prosperity

Business Today

Business Today · 4m ago

India's Path To Prosperity

To achieve the vision of Viksit Bharat, India must implement bold reforms across various sectors. These reforms are crucial for the country's development and progress.

IMF's Krishna Srinivasan: India must boost private investment to meet its Viksit Bharat 2047 goal

Business Today

Business Today · 3m ago

IMF's Krishna Srinivasan: India must boost private investment to meet its Viksit Bharat 2047 goal

India is projected to grow at a 6.2% rate in 2025 and 6.3% in 2026, outpacing its Asia-Pacific peers, per the IMF’s Krishna Srinivasan. To achieve its Viksit Bharat 2047 goal, private investment must increase. The region is facing growth slowdowns with trade tensions and volatility in markets. Boosting domestic demand and diversifying supply chains are crucial. India's AI adoption and infrastructure initiatives are strengths, but tariffs have impacted growth forecasts.

Govt not at a standstill due to polls, working to make India a $35 trillion economy by 2047: Piyush Goyal

Economic Times

Economic Times · 1y ago

Govt not at a standstill due to polls, working to make India a $35 trillion economy by 2047: Piyush Goyal

Commerce and Industry Minister Piyush Goyal has stated that despite the upcoming elections, the government is actively working to transform India into a developed $35 trillion economy by 2047. The focus of the election is on women empowerment and a corruption-free India. The government aims for inclusive and sustainable growth, ensuring that people have their basic needs met. Goyal also expressed the aspiration for India to have 1,000 unicorns in the startup ecosystem and discussed the government's vision for Viksit Bharat 2047.

Most rich customers in India don't know finance basics: Kunal Shah

Inshorts · 8m ago

Most rich customers in India don't know finance basics: Kunal Shah

CRED Founder Kunal Shah said most affluent customers in India "don't understand financial literacy to the basic points". If the issues aren't addressed on time, it will restrict innovation and credit growth of India's fintech ecosystem, he stated. "A Viksit Bharat without very powerful credit growth in the ecosystem is unimaginable," he added.

'I would love to see this generation be hungry for success, build operational businesses': Uday Kotak

Business Today

Business Today · 5m ago

'I would love to see this generation be hungry for success, build operational businesses': Uday Kotak

Uday Kotak, speaking at an investor conference, expressed concerns about waning entrepreneurial zeal among younger business families, who increasingly prefer investment management over active business operations. He criticized the trend of over-financialisation in the Indian economy, warning it could harm the economy if investors focus solely on financial instruments without understanding their value. Kotak urged the younger generation to build real-world businesses and for India to avoid protectionist policies, instead leveraging global market changes.

Entrepreneurs in fintech, AI get awards at Indo-European business forum

Economic Times

Economic Times · 7m ago

Entrepreneurs in fintech, AI get awards at Indo-European business forum

The annual Indo-European business forum (IEBF) meet took place at the House of Lords complex in London, where high achievers facilitating cross-border partnerships between India and Europe were honored. The event, called the 'Viksit Bharat Investment Summit', focused on India's goal of becoming a developed economy by 2047 and showcasing business and investment opportunities. Among the awardees were entrepreneurs in fintech, AI-driven visual recognition, fund management, and promotion of Indo-UK business. The event coincided with the relaunch of Free Trade Agreement talks between the UK and India. Karnataka's labor minister also highlighted his state as a prime investment destination.

RBI Monetary Policy Meeting: Gov Malhotra maintains India’s GDP growth projection for 2025-26 at 6.5%

Business Today

Business Today · 1m ago

RBI Monetary Policy Meeting: Gov Malhotra maintains India’s GDP growth projection for 2025-26 at 6.5%

RBI Governor Sanjay Malhotra maintains India's GDP growth projection for 2025-26 at 6.5%. The economy shows resilience with strong agriculture, improving industrial activity, and healthy private consumption. While domestic activity is robust, geopolitical tensions and weather uncertainties pose risks. Urban and rural demand are improving, supported by trade agreements. Overall, India displays stability and opportunity in a shifting global economy, as it pursues its "Viksit Bharat" vision.

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