PricewaterhouseCoopers (PwC) in a report released on Monday, defined three possible scenarios for India’s economic growth. Of the three, the “Winning Leap” is the most aggressive growth scenario.
The other two economic growth scenarios are “Pushing old ways faster” and “Turbocharging investment”. The former outlines a focus on investment in education, health and other dimensions related to human capital. Under this scenario India’s GDP, according to the report, could see a 6.6 per cent compound annual growth rate (CAGR) between now and 2034. The scenario ‘Turbocharging investment’ outlines the impact of rapid and significant investment in physical infrastructure and envisions a 7 per cent CAGR for GDP leading up to 2034.
For India to undertake the “Winning Leap” says the report, it will also need a concerted effort from Corporate India, supported by a vibrant entrepreneurial ecosystem and a constructive partnership with the government. It will need a “play-to-win” mindset shift for industry leaders and the country overall, says the report.
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“The report stresses that linear growth in each sector will not be enough to meet the growth ambition envisioned for India…Given the scale and complexity of the challenges facing India, the resources required, and the urgency of demands for change coming from Indian citizens, sector players must deploy solutions that deliver non-linear growth,”said PwC India partner Shashank Tripathi at the launch.