India has an opportunity to build a $10 trillion economyStaff writer ▼ | November 25, 2014
PwC's report "Future of India - The Winning Leap" revealed the winning solutions required to lead India to unprecedented economic growth coupled with radical improvements in the Human Development Index (HDI) over the next two decades.
Over two decades Future of India - The Winning Leap
The report emphasises that for India to take the Winning Leap and grow its GDP by 9% per annum to become a $10 trillion economy, a concerted effort from Corporate India, supported by a vibrant entrepreneurial ecosystem and a constructive partnership with the government will play a critical role.
The report analyses that up to 40% of India's $10 trillion economy of 2034 could be derived from new solutions. The study stresses that 'The Winning Leap' should not be limited to a new approach or solution but rather needs to be seen as a 'play-to-win' mind set shift for industry leaders and the country overall.
"A young demographic, paired with a burgeoning middle-class that is digitally enabled; is a once in a lifetime opportunity for India to develop economically and socially," said Dennis Nally, Chairman, PricewaterhouseCoopers International Ltd.
"India can only build shared prosperity for its 1.25 billion people by transforming the way the economy creates value. For India, to create 10-12 million jobs every year in the coming decades, corporations and entrepreneurs must work together to help deliver new solutions and build capabilities for growth."
According to the report, if each sector of the Indian economy executes solutions drawn from all three categories, it will expand fivefold and can achieve 9-10% sustained economic growth over the next 20 years in a resource efficient manner. ■