INDIA must shift from growth at scale to growth in productivity as it enters the next phase of its development journey toward Viksit Bharat @2047, according to a report by KPMG in India. In its report titled “Top 10 Priorities for India’s Next Growth Phase”, professional services firm KPMG outlined a coordinated execution agenda focused on manufacturing depth, human capital, MSME competitiveness, infrastructure efficiency, and institutional delivery.
In practical economic terms, KPMG said Viksit Bharat implies a transition from scale to productivity.
“It means moving from assembly to manufacturing depth; from infrastructure creation to logistics efficiency; from access to services to quality outcomes; from enterprise formalization to competitiveness; and from enrolment in education to employability. It also implies stronger external resilience built on manufacturing exports and domestic value addition, rather than reliance on services alone.
This distinction is central,” the KPMG report read. The report stresses that India has largely completed its “foundation phase” — marked by macroeconomic stability, expanding public infrastructure, digital public platforms, and targeted industrial policy — and must now convert capital investment into sustained productivity gains. Among the top priorities is building a future-ready workforce, linking education, skilling, and employment more closely.
With India’s median age at 28 and a projected working-age population exceeding 1.13 billion by 2050, the report calls for operationalizing the National Education Policy (NEP), expanding apprenticeship-linked degrees, and scaling re-skilling in AI-enabled services, advanced manufacturing, and digital technologies.
ANI
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