On May 1, the Australia India Institute hosted a lecture by Mr Amitabh Kant, CEO of National Institute for Transforming India. NITI Aayog was established in 2015 as the official policy think tank of the Government of India and is tasked with catalysing economic development by identifying national priorities and strategies and fostering cooperative federalism.
In the lecture, titled ‘83 not out: India’s march to a ten trillion dollar economy’, Mr Kant outlined key reforms that have enabled economic growth, highlighting the startup movement, biometrics and the GST, among others.
Mr Kant noted the significant improvement in India’s ease of doing business ranking. This has been driven by reforms to bureaucratic processes, an embrace of the digital economy and the development of physical infrastructure across the country. The speaker also stressed India’s need to continue to attract foreign investment in order to grow at higher rates and emerge as a global economic superpower.
In the second half of his address, Mr Kant turned to highlight India’s main challenges in fulfilling its economic potential and maintaining fast and consistent economic growth. In particular, he noted that India must address gender disparity and work to increase female work participation rates. Just 28% of Indian women are in the workforce, Mr Kant said, while the world’s average stands at about 48%. NITI Aayog’s CEO highlighted the Beti Bachao, Beti Padhao scheme (Save the girl child, make her rise) as a key driver in female child empowerment across the states.
Missed the lecture? Watch the recording below.