New Delhi, June 23: Achieving the goal of ‘Developed India 2047‘ requires the economy to grow at a rate of 7-8 percent. Significant investment from the private sector and robust export growth will play a vital role in this endeavor. This statement was made by Mahendra Dev, Chairman of the Prime Minister‘s Economic Advisory Council (EAC-PM), on Tuesday.
While addressing journalists at an event organized by FICCI India in the national capital, he emphasized, “Both private sector investment and an increase in exports are essential.”
Dev further noted that the structural reforms implemented in recent years have laid the groundwork for progress in this direction.
According to recent data from the Ministry of Statistics, India’s GDP growth is projected to be 7.8 percent for the January-March quarter of 2025-26. This growth rate of 7.7 percent for the entire fiscal year is attributed to strong performances in the agriculture, construction, and service sectors.
A government statement indicated that during this period, the secondary sector recorded robust growth of 8.8 percent, while the tertiary sector saw an increase of 9.9 percent. However, the primary sector only achieved a growth rate of 3.2 percent, primarily driven by performance in agriculture and fisheries.
The statement also highlighted that during 2025-26, double-digit growth was recorded in manufacturing, trade, repair, hotels, transport, communication and broadcasting, storage, finance, real estate, and professional services.
This reflects the substantial investments made by the government in major infrastructure projects such as highways, railways, ports, and airports. These investments have contributed to boosting the growth rate, making India the fastest-growing economy even amid a global downturn.
Dev expressed his pleasure that FICCI is hosting this important and innovative conclave on crop nutrition, bringing together farmers and all stakeholders on a common platform.
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