The event's chief guest was CEO Niti Aayog, who delivered a very motivational address in the opening session. CEO, BVR Subrahmanyam speaking on this occasion stressed that there is a case for India to be an active member of The Regional Comprehensive Economic Partnership (RCEP) supposed to be a free trade agreement (FTA) between 15 APAC zone nations and, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) a free trade agreement (FTA) again among 11 nations in the APAC region to let our economy open up to wider audience participating in this part of the world given that India is missing the mark by not being part of these bigger trade blocs and in turn large trade agreements.
Reacting to the criticality of the MSME piece of the economy being at the front and center contributes significantly to our export growth story given its notable 40% share of the nation's exports.
Viksit Bharat and the 2047 vision.
India's nominal GDP is projected to grow at a steady pace of 7.5%.
The nominal GDP is expected to grow from USD 3.5 trillion to USD 22.8 trillion.
India is likely to witness a structural shift in its economic structure from 2023-2047
Service sector increasing its GDP share from 54.2 to 60 percent.
Agriculture contribution drops significantly from 18.2 percent to 10 percent.
Manufacturing experiences a modest rise to 18 percent.
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Other sectors like mining, construction, and utilities remain relatively similar over the period.
The projection of employment at 76.9 crore persons in the workforce by 2047 suggests a growing labour market.
During this time, per capita GDP (Nominal) is expected to rise from USD 2485 to the stipulated USD 14,000.