India Must Aim for Double-Digit GDP Growth to Lead in Asia's Century, Says Economist Sanjaya Baru
In a keynote address delivered in Vijayawada, noted economist and policy analyst Sanjaya Baru highlighted that the 21st century is increasingly shaping up to be Asia's century, with India and China positioned as major engines of global growth and production. He observed that while India's current GDP growth rate is around 7%, the country must aspire for sustained double-digit growth of 10–12% to emerge as a leading global economic power.
Keynote Address on "Rising India in a Rising Asia"
Sanjaya Baru delivered the keynote address on the theme "Rising India in a Rising Asia" at the 13th Memorial Lecture of the Kanaka Durgamba & Dr Dakshinamurthy Trust. The event was held at B Vignana Kendram in Vijayawada on Monday. During his speech, Baru emphasized the critical link between production and job creation, stressing that large-scale employment generation would be possible only through the expansion of the manufacturing and industrial sectors.
Need for Manufacturing Expansion and Economic Restructuring
Baru pointed out that India must move beyond its current service-dominated economic structure to strengthen its manufacturing base, boost exports, and enhance industrial infrastructure. He argued that this shift is essential not only for achieving higher GDP growth but also for creating sustainable employment opportunities across the country. The economist underscored that a robust manufacturing sector is key to India's aspirations of becoming a global economic powerhouse in the Asian century.
Event Attendees and Broader Implications
Dr Jandhyala Shankar, Dr Chadalavada Nageshwar Rao, and other dignitaries were present at the lecture. Baru's remarks come at a time when India is navigating economic challenges and opportunities in a rapidly evolving global landscape. His call for double-digit growth aligns with broader policy discussions on economic reforms and industrial development, positioning India to capitalize on its demographic dividend and strategic role in Asia's rising prominence.
