The Morning Brief Building India’s $30 Trillion Future By 2047
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Dec 24, 2024 Josh Foulger, CEO of Zetwerk, and Anmol Jaggi, Co-Founder of Gensol Group, share insights on India's ambitious goal to reach a $30 trillion economy by 2047. They discuss the crucial role of the electronics industry in boosting growth under the Make in India initiative. The conversation also highlights advancements in renewable energy and sustainable mobility, including the electrification of transportation. With global challenges looming, they emphasize the importance of private investment and innovative policies to navigate risks and seize opportunities.
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India's Growth Drivers
- India's GDP growth, while slowing, is projected to remain strong, driven by infrastructure, manufacturing, and renewables.
- Private sector investment, though currently muted, is expected to pick up as capacity utilization increases.
Private CAPEX Outlook
- Private sector capital expenditure is expected to rise due to healthy capital goods orders and government incentives like the PLI scheme.
- New-age investments in sectors like semiconductors and energy transition will further contribute to this growth.
Electronics Industry Potential
- India's electronics industry, being tech, skill, and people-intensive, offers broad employment opportunities.
- It also positions India as a potential global supply chain hub, contributing significantly to the 2047 vision.