Page 3 - Developed Nations

PM's I-Day speech lays blueprint for India to become developed by 2047: CII

Prime Minister Narendra Modi's Independence Day speech outlined the notable achievements of his government in the last decade, which have laid the blueprint for India becoming a 'Viksit Bharat' by 2047, industry body CII said on Tuesday. India is at a decisive turning point and has the strength to shape the new world order that was emerging in the aftermath of the COVID pandemic, Modi said on August 15 and assured the countrymen of a "New India" with a bright future in next five years. CII is confident that the prime minister's vision of seeing India emerge as the third largest global economy will be easily fructified in the next five years, its Director General Chandrajit Banerjee stated. Modi's address from the ramparts of Red Fort on 77th Independence Day would further the national resolve to become a developed country by 2047 while it is marching fast to be amongst the third largest economies of the world, ASSOCHAM Secretary General Deepak Sood said. CII's Banerjee said: "The .

FinMin to hold Chintan Shivir in Gujarat, discusses roadmap for India 2047

The finance ministry will organise a two-day Chintan Shivir in Gujarat starting from August 20 to discuss various issues, including the roadmap for India to become a developed nation by 2047, officials said on Monday. Secretaries and senior officials from the six departments in the finance ministry and the corporate affairs ministry will attend the two-day session that will be held at Kevadia. Finance minister Nirmala Sitharaman will address the meeting on August 21. The Chintan Shivir, which is being held days before the G20 Leaders' Summit, will also see separate sessions on various agenda being pursued under India's Presidency. India is currently holding G20 Presidency and the Summit meeting is scheduled to be held on September 9-10 in the national capital. Prime Minister Narendra Modi has given a clarion call to make India a developed country by 2047 -- the 100th year of its independence. In the nine years of the Modi government, the Indian economy has moved from being the te

'India to be a developed nation by 2047, modernising infra at rapid pace'

Union Minister R K Singh on Friday said India is poised to become a developed nation by 2047, as the country is modernising its infrastructure at a rapid pace. Addressing a press conference Singh said, "Now we are transforming ourselves into a developed country. We will be a developed country." Stressing that India is modernising its infrastructure at a rapid pace, he said the total length of expressway at present is 3,106 km, which was 353 km in 2014. He said that under the leadership of Prime Minister Narendra Modi, India will be a developed country by 2047. The minister stated that the pace of infrastructure development is unprecedented and capital expenditure for the purpose has increased nearly five times since 2014, when the NDA government came into power and trebled since 2019. He stressed that there has been rapid pace of modernisation of infrastructure development in the country and cited the example of roll out of Vande Bharat Express service which is an engine-less ...

Global financial architecture needs to be alerted to suit requirement: Kant

Global financial architecture needs to be alerted to meet the requirement of emerging nations like India, Brazil and South Africa as they are the global growth drivers, India's G20 Sherpa Amitabh Kant said on Saturday. The flow of resources has to be directed towards emerging countries as 80 per cent of global growth is going to be contributed by these economies, he said. Sharing data, Kant said, the share of developed nations in global GDP was 60 per cent while developing countries contributed 22 per cent in 2008 when G20 was formed. At present, he said, the share of developed economies has come down to 48 per cent while that of emerging nations has increased to 37 per cent. So, it indicates that growth in future is going to come from developing markets, he said, adding, "this would require financing and the international financial architecture will have to be adequately tuned to ensure that resources flow from the developed world to the emerging markets and not vice versa as is .

Focus on four 'Is' to make India a developed nation by 2047: Sitharaman

Finance Minister Nirmala Sitharaman on Saturday said the focus of the government is on four Is -- infrastructure, investment, innovation and inclusiveness -- to make India a developed nation by 2047. She said India has necessary wherewithal to meet the goal set by Prime Minister Narendra Modi. Besides several investor-friendly reforms undertaken by the government, she said, India has a very vibrant young population and the emphasis on skilling them to suit the requirement of the economy would yield dividend. With the aim to build India a developed country by 2047, she said "the emphasis has been on four different issues (Is). We are looking at infrastructure (first I) in a very big way. In the last 3 to 5 years, consistently, the public expenditure for infrastructure building has been ramped up significantly and it will reach Rs 10 lakh crore in 2023-24." With infrastructure comes investment (second I), she said, adding that emphasis on investment will promote greater participation

Unemployment rate in India lowest among developing nations: Union Minister

Unemployment rate in India is the lowest among the developing countries and Pradhan Mantri Mudra Yojana (PMMY) has helped in achieving this self-sustaining employment, Union Minister of State for Chemicals and Fertilizers Bhagwanth Khuba said on Saturday. Khuba was speaking at a Rozgar Mela here where he handed over the appointment letters to 135 candidates. Youths from Telangana and Andhra Pradesh who secured jobs in Central government organisations and departments like AIIMS, LIC and Bank of Baroda received appointment letters from the Union Minister on the occasion, an official release said. Khuba said the Rozgar Melas being organised by the Central government are in line with the wishes of Prime Minister Narendra Modi to ensure transparency and corruption-free recruitment process. Corruption and biases used to happen in recruitment earlier, he alleged. Post pandemic, India has achieved 7.2 per cent GDP growth rate which is the highest in the world. Even economic powerhouses li

Need to grow at 7.6% to be a developed nation by 2047-48, says RBI

Sustainable path to development requires investment in physical capital & comprehensive reforms across sectors covering education, infrastructure, healthcare & technology to raise productivity: Study

India, UAE ask developed nations to fulfill climate finance commitment

Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan on Saturday said there was an urgent need for developed countries to fulfil the USD 100 billion delivery plan to mitigate and adapt to the effects of climate change. In a joint statement on climate change issued after talks between the two leaders, India and the UAE highlighted the importance of the global stocktake (GST) of collective action to achieve the goals of the Paris Agreement and its successful conclusion at COP28 scheduled to be held in Dubai later this year. Modi congratulated the UAE for being selected as the host country of COP28 in 2023 and extended his full support to its incoming presidency of the climate conference. The Prime Minister thanked Sheikh Mohamed for the invitation to attend the COP-28. "I am thankful for your invitation and I always look for the chance to come here. I have decided to attend the COP-28 Summit in the UAE In the joint statement, both leaders urgently called

Govt, society have to work together to make India developed nation: Rajnath

Defence Minister Rajnath Singh Monday said the government, every section of society and social organisations will have to work together to make India a developed nation by 2047. Singh was in Punjab's Jalandhar where he attended 'Guru Purnima Mahotsav' organised by 'Divya Jyoti Jagriti Sansthan' (DJJS). On this occasion, the Union minister lauded the sansthan which is located at Nurmahal in Jalandhar for its work, saying he was happy that the DJJS is working in every field by considering service of humans as its uppermost philanthropy. Shri Ashutosh Maharaj united people with the aim of 'Sarvochch Parmarth'. 'Parmarth' means an act of serving others without seeking any benefit, which only a great personality can do. Swami ji inspired the people with his works, said Singh. He said that the DJJS was continuously working towards spreading Swami ji' life values and objectives to the masses. The way Swami ji selflessly worked for the welfare of the nation and society is an inspiration f

Cambodia about to graduate from least developed country status: ADB

It added that the Southeast Asian nation should consider forging new trade agreements with its major partners while improving the implementation and utilization of existing ones

India as 'developed country' by 2047: Attainable goal, or chimera?

Even as India strives to climb the development mountain, the fact is that the mountaintop is already crowded. If it got there in 2047, India would be very much a late-comer, notes T N Ninan

India will be a developed nation by 2047, says Defence Minister Singh

India will be a developed nation by 2047, Defence Minister Rajnath Singh said on Monday while laying emphasis on the advancement of technology amid a rise in cyberspace threats in the defence sector. The country is now becoming self-reliant and as per economic experts, India will achieve third rank in the world economy by 2027, Singh said while speaking at the convocation ceremony of the Defence Institute of Advanced Technology (DIAT) in Maharashtra's Pune district. "The world is changing with a rapid speed. The defence sector is also witnessing a change as we can see multiple technical changes in this sector. Many problems have arisen in the defence sector, especially the threats in cyberspace have increased," he said. "However, with the changing situation we have to move towards advancement in technology. If there is a challenge, there is a solution. Now, efforts should be put forward to advance the technology," the minister said. Stressing on self-reliance, Singh said it does no

Emerging economies must step up to fix global challenges: FM Sitharaman

She was speaking with the members of the Indian diaspora in Seoul, South Korea, on the sidelines of the annual meeting of the Asian Development Bank

'24x7 quality, reliable, affordable power necessary to be developed nation'

Union Power Minister R K Singh has said that 24x7 quality, reliable and affordable power supply to all the electricity consumers in the country is necessary for India to become a developed nation. The minister emphasised the importance of a viable and modern power sector in the overall economic growth of the country. The Minister for Power, New and Renewable Energy chaired the Review Planning & Monitoring (RPM) meeting with states and state power Utilities, the Ministry of Power said in a statement. Most of the DISCOMs have started implementing the reform measures prescribed by the Ministry of Power under its various initiatives like the Revamped Distribution Sector Scheme (RDSS), Additional Prudential Norms and Late Payment Surcharge (LPS) Rules 2022, Singh said. The DISCOMs as well as GENCOs have benefitted from the Late Payment Surcharge Rules 2022, the statement dated April 10 said. The Minister also launched the 11th Integrated Rating of Power Distribution Utilities 2022, ..

India will achieve 'developed' tag with efforts of all countrymen: PM

India will emerge as a "developed" nation by 2047 with efforts of every single individual, Prime Minister Narendra Modi said here on Saturday

Developed world to help small farmers in developing nations: India at WEF

Developed countries should walk the talk on transforming food systems by helping smallholder farmers in developing countries with cheaper access to irrigation, fertilisers and markets, said RK Singh

World is in state of crisis: PM Modi at Voice of Global South summit

PM Modi says India can be the voice of Global South

India will take 20 yrs, 8-9% growth to become developed nation: Rangarajan

Noting that the achievement of USD 5 trillion economy is a short term aspirational goal, former RBI Governor C Rangarajan on Saturday said even after that India will still be known as middle income country with per capita income USD 3472. Rangarajan further said in order to reach the level of an upper middle-income country, it will take another two years and to be classified as a developed country, the per capita income will have to be at a minimum of USD 13,205 and that will take more than two decades of strong growth of between 8 to 9 per cent to achieve it. Speaking at the 12th Convocation of ICFAI Foundation for Higher education here, he said at aggregate output level, India is the fifth largest economy in the world now. That by itself is an impressive achievement. But in terms of per capita income, India's rank according to IMF is 142 out of 197 countries. The immediate focus of policymakers must be to raise the growth rate of the economy. Achievement of a USD 5 trillion ...

China may not pay for climate change despite being 'biggest annual emitter'

Chinese policymakers do not agree with the suggestion that China should be considered a developed nation; according to Chinese policymakers, China continues to have extreme poverty in the country

COP27: India opposes efforts to extend scope of mitigation to agriculture

India has opposed the developed world's efforts to extend the scope of mitigation to agriculture at the ongoing UN climate summit in Egypt, saying rich nations do not want to reduce emissions by changing their lifestyles and are "searching for cheaper solutions abroad", sources said on Thursday. Expressing concern over the draft decision text on the Koronivia Joint Work on Agriculture, India said the developed countries are blocking a pro-poor and pro-farmer decision by insisting on expanding the scope for mitigation to agriculture, thereby compromising the very foundation of food security in the world, a source in the Indian delegation said. "At every climate summit, the developed countries wish to change the goalposts of the international climate regime using diversionary means to dilute their responsibilities arising from their historical emissions. "Annex-I countries, it may be recalled, owe the world a carbon debt of 790 gigatonnes of carbon dioxide (GtCO2), which is worth USD