Embracing 'Make Products in India'

It is time shift the focus from 'Make in India' and foster local innovation to create high-income jobs and improve the quality of life for Indians

The vision of Viksit Bharat sets forth a challenging agenda for India. A pivotal aspect is the imperative to elevate the per capita gross national income (GNI) from the current $3,348 to over $14,000, transitioning the nation from a lower-middle-income to the coveted high-income category.

However, India faces the prospect of ageing before prosperity if it does not reach this goal by 2047, when 14 per cent of the population will be 65 or above. India’s annual growth must consistently surpass 10 to 12 per cent, compared to the present 6 to 7 per cent, to avoid the middle-income trap observed