India must grow at 8% for at least 10 years for 'Viksit Bharat': Economic Survey

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India to achieve its goal of 'Viksit Bharat by 2047' will need to grow at around 8% at constant prices for nearly a decade or two, according to the Economic Survey 2024-25. The survey presented by the Finance Minister Nirmala Sitharaman cited the country’s opportunities as well as challenges.

The Indian economy is expected to grow between 6.3% to 6.8% in FY26, according to the survey. Strong domestic economic fundamentals coupled with steady inflation, stable private consumption and a decreasing inflation rate will help the country sustain its growth momentum.

However, geopolitical and trade uncertainties could impact the nation’s growth.

In order to become a competitive and innovative economy, the country must attract major investments, according to the survey.

The survey also mentioned China's impact on shaping India’s economic future. Since China dominates the global economy for energy transition and supply chains and India has ambitious clean energy goals, the latter’s reliance on Chinese imports could pose economic and strategic challenges, particularly potential supply chain disruptions, currency risks and price fluctuations