If India wants to build a $ 10-trillion economy by 2034, growing at a rate of 9 per cent a year, it will have to focus on investments in R&D and undertake radical improvements in the Human Development Index, PricewaterhouseCoopers (PwC) said in a report released on Monday.
The report defined three possible scenarios for India’s economic growth. Of the three, the “Winning Leap” is the most aggressive growth scenario and the only one that will generate the 240 million new jobs India’s growing demography needs, said a PwC statement on the report.
The three scenarios are not growth projections, PwC clarified at the launch of the report here on Monday. “India can only build shared prosperity for its 1.25 billion people by transforming the way the economy creates value,” said PwC International chairman Dennis Nally at the launch. The other two economic growth scenarios in the report are “Pushing old ways faster” and “Turbocharging investment.”
Published - November 24, 2014 05:09 pm IST