“We are growing at about 7 per cent per annum, the challenge is now to accelerate the growth. We need to grow 8 per cent plus year after year to become USD 5 trillion economy by 2024-25,” he said.
Noting that no country in the world has grown without penetrating global markets, Kant said exports hold key to the country’s economic growth.
The Niti Aayog CEO insisted that India needs to continue opening up its economy and the country should push aggressively for globalisation.
Kant also said India needs to get into sunrise areas of industries, whether it is electric vehicle (EV) or battery manufacturing .
“In the EV sector, 20 Indian start-ups are driving EV movement,” he said.
The Niti Aayog CEO said India has taken many structural reforms such as goods and services tax, Insolvency and Bankruptcy Code and direct benefit transfer (DBT). “A total of Rs 90,000 crore has been saved by the government due to DBT,” Kant said.
India is also facing several challenges, he said, adding that there is a huge gender disparity in India, so we need to focus on health and education of girls.