In a bold outline for India’s journey to becoming a developed nation by 2047, a KPMG report identifies ten pivotal areas requiring immediate action, prominently featuring workforce skilling, manufacturing upgrades, and MSME empowerment.
At the core is forging a future-ready workforce through continuous education-to-employment pipelines, scaled apprenticeships, and advanced tech training tailored for manufacturing, services, and cutting-edge fields.
Manufacturing’s global edge hinges on component localization, Industry 4.0 integration, productivity leaps in factories, and cluster alignments with exports and quality benchmarks.
MSMEs must evolve beyond sustenance via cash-flow lending, collaborative productivity drives, digitization, and export programs linking them to vital supply chains, fostering expansion.
Trade enhancement demands integrated infrastructure and diversified exports. The report advocates multi-modal corridors, improved connectivity, corridor-based export ecosystems, strategic FTAs/CEPAs, and supply chain resilience.
Urban transformation calls for public transport-centric development, robust municipal funding, affordable housing scale-up, and holistic planning for secondary cities to drive national progress.
For equitable growth, extend social protections to informal sectors, modernize care facilities, and elevate women’s workforce involvement.
Public finance overhaul involves private investment influx, revenue fortification across governance tiers, and result-oriented budgeting with digital oversight.
‘With a solid base in place, execution is key—transforming capital into productivity for true competitiveness,’ stated KPMG India CEO Yezdi Nagporia. ‘Deep manufacturing prowess, talented workforce, strong MSMEs, smart infrastructure, and prepared cities will shape India’s rise.’
This detailed strategy positions India for sustainable, high-impact development by 2047.