India's Economic Growth & Opportunities: Singapore Forum Update

Singapore, Aug 21 (PTI) Giving insight into infrastructure developments and economic progress across India to an international forum, High Commissioner Dr Shilpak Ambule on Wednesday said India's strategy is to have advanced technologies to support 8 to 10 per cent GDP growth to make it a developed economy by 2047.

Speaking at the World Opportunities Forum Singapore 2024 attended by Singapore-based envoys of leading investment-oriented countries as well as investors and entrepreneurs, India's High Commissioner here highlighted that policies formulated in New Delhi were implemented across the country, including rural regions, women folks and the agriculture sector.

Projects such as roads, railways, ports and airports have been done and others are in progress or are in the pipeline, said the High Commissioner as he addressed over 150 delegates led by the Ambassador of Mexico and Dean of the Diplomatic and Consular Corps, Agustin Gracia Lopez Loaeza.

The forum was organized by Sun Media Communications, a leading publications and publicity group working mostly with embassies in the city-state.

Trade enhancement economic corridors on the eastern side and western side of the country are in place and more are in the pipeline as India continues to progress on becoming a developed economy by 2047.

Elaborating on business opportunities in India, Ambule pointed out the 1,200 aircraft ordered by airlines operating in India for taking deliveries in 10-15 years, calling the aviation sector one of the growing segments of the economy.

Further, he shared India's strategy to have advanced technologies to support the 8 per cent to 10 per cent economic growth that would make India a developed economy by 2047.

“In fact, we have doubled the number of airports from 74 to 148 in the last 10 years,” he said.

“People's income has doubled in 10 years, urbanisation is taking place,” said the Indian envoy, adding that people were more confident, their aspirations were higher and consumer spending was on the rise.

Women in the rural regions have been empowered and trained to handle technology-savvy drones for surveys of soils across farmlands among others while their bank accounts, linked to their mobile phones, are receiving direct subsidies.

There is a lot of focus on technology deployment in agriculture as per the Union Budget 2024-25 presented in July, he added.