Mumbai, February 14: Achieving India’s ambitious Viksit Bharat 2047 vision demands a strategic focus on ten critical priorities, with building a future-ready workforce, boosting manufacturing competitiveness, and strengthening MSMEs at the forefront, according to a comprehensive new report.
The report underscores that creating a workforce equipped for tomorrow starts with seamless integration of education, skill development, and employment. Expanding apprenticeship programs and fostering deep technical capabilities will prepare talent for high-demand sectors like manufacturing, services, and emerging technologies.
To make manufacturing globally competitive, the blueprint calls for localizing components, embracing Industry 4.0 technologies, enhancing factory productivity, and linking clusters closely with export and quality standards. These steps aim to position Indian industry on the world stage.
For MSMEs, the emphasis shifts from mere survival to scalable growth. Recommendations include cash flow-based credit, group productivity initiatives, digital adoption, and structured export incentives tying them to key supply chains.
Other priorities encompass improving trade competitiveness through integrated infrastructure and export diversification. Developing multi-modal corridors, upgrading last-mile and industrial connectivity, and leveraging FTAs and CEPAs with sector-specific plans are highlighted to build resilient supply chains.
The report urges accelerating public transport-led urban growth, bolstering municipal finances, expanding affordable housing, and planning integrated urban districts to transform Tier-2 and Tier-3 cities into growth engines.
Inclusive development is paramount: extending social security to informal workers, professionalizing care infrastructure, and boosting women’s labor force participation to ensure broad-based progress.
Fiscal reforms are essential, attracting private capital to enhance public spending quality, strengthening revenues at central, state, and city levels, and adopting outcome-based budgeting supported by digital tracking.
KPMG India CEO Yezdi Nagporia emphasized, ‘India has laid a strong foundation; now the focus is on execution—converting investments into productivity and competitiveness. Our nation’s growth will be defined by intensive manufacturing, skilled talent, empowered MSMEs, robust infrastructure, and future-ready cities.’
This roadmap charts a clear path for India to realize its developed nation status by 2047, blending innovation, inclusivity, and infrastructure.