India is on high-growth trajectory to achieve its development goals by 2047: Minister Hardeep S Puri

Feb 28,2024

At a time when advanced economies are struggling to bounce back from the devastating impacts of the pandemic, India has emerged more resilient, said Shri Hardeep Singh Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs. While addressing the gathering at inauguration of the REVA University Centre of Excellence for Geopolitics and International Studies in Bengaluru today, he said that India is already the fifth-largest economy in the world, and soon, we will become the third-largest economy. With a growth rate of 7.3% over the first three quarters of the current fiscal year, India is demonstrating that it is on a high-growth trajectory to achieve its development goals by 2047, he said.

Referring to the increasing stature of India globally, the Minister said that domestic socioeconomic successes and welfare reforms are behind our increasing global stature. There has been a paradigmatic shift in governance in the last ten years. From the days of policy paralysis before 2014, we are now seeing an era of transformative policies that benefit the citizen directly, he said.

Highlighting the achievements of the country in last 10 years, Shri Puri noted that more than 25 crore people have been lifted out of multidimensional poverty since 2014. He said that through schemes such as Ayushman Bharat Mission and the success of schemes such as Swachh Bharat Mission and AMRUT, out-of-pocket expenditure on health has reduced by 25% in the last ten years. Tap water connections to 10.57 crore rural households have been provided since 2014 while more than 11 crore household toilets constructed under the Swachh Bharat Mission, he noted.  He said that 2.51 crore rural houses and more than 80 lakh urban houses have been constructed under PM Awas Yojana so far. The scheme has been extended in the latest Budget, and will sanction another 2 crore houses in rural areas. The Minister also talked about milestones achieved by country under PM MUDRA Yojana, PM SVANidhi Yojana and PM Ujjwala scheme. From being a net importer, India has become the world’s second-largest mobile manufacturer, with greater value addition being done domestically, he said.    

The Minister said that India lies on the cusp of a demographic transition while most developed countries face the risk of an ageing workforce. Addressing the students present at the event, he that India’s demographic dividend provide us with unparalleled intellectual capital and entrepreneurial genius.

India’s soft power—as the mother of all democracies, and the world’s largest and pluralistic—has come into sharper focus with its consensus building and ethos of mutual benefit, Shri Puri said. He said that endowed with the belief that global actions can be for global good, India has brought in a new global vision through the philosophy of Vasudhaiva Kutumbakam.

The Minister Hardeep Singh Puri inaugurated today the REVA University Centre of Excellence for Geopolitics and International Studies in Bengaluru. “This Centre of Excellence for Geopolitics and International Studies will prove to be a valuable addition for the students of the REVA University.”, the Minister said.

The Minister said that understanding and advancing India’s position in the global landscape of the 21st century is imperative at this critical juncture. He said, “I hope this Centre serves as a platform for igniting intellectual curiosity and fostering thought-provoking discussions on geopolitics and international studies among scholars, professionals, decision-makers, and emerging leaders.”