Unleashing India’s Potential: Amrit Kal to Witness Rapid Growth, Innovation, Socio-Economic Evolution

Partha Roy, Kolkata: India is working for major transformation across all sectors of its economy to fast-track it’s growth and development during its Amrit Kal.
Amrit Kaal, is a 25-year period beginning from 2022 and ending in 2047, which marks the 100th anniversary of India’s independence. During this period, India is expected to undergo significant development and growth, driven by various factors such as:
1) Technological advancements ,
2)Demographic dividend , 3)
Infrastructure development ,
4)Economic reforms ,
5)Innovation and entrepreneurship

A special session titled ” Indian Economy & Policies : Agenda for Amrit Kaal” was organised by Calcutta Chamber of Commerce on 4th July 2024 in Kolkata.

The special session was addressed by Shri Nilesh Shah Managing Director of Kotak Mahindra Asset
Management Co Ltd &
Part- Time Member, Economic
Advisory Council to Prime
Minister who was also Chief Guest and
CA Vinod Kumar Goyal
National President
Association of National Exchanges
Members of India (Anmi).
In keynote address , Shri Nilesh Shah said India has shifted from follower to leader of global growth. Shah further said India growing fast and steadily. However , due to Covid pandemic growth has been delayed by atleast one year in many sectors. Shah mentioned about uneven growth of India. Shah highlighted the fact that while only 13 districts contribute 50% of India ‘s GDP , 692 districts are not performing well. Shah said there is need for innovation in education, training and skilling so that youth can be empowered with soft skills to find productive employment in countries where youth population are declining fast and countries need to import workforce from other nations.
Shah said FDI lead growth should be shifted to Domestic Direct Investment lead growth.
Shah mentioned India is only country which has reduced Debt to GDP ratio while in all other countries it is increasing.
Shah said there is need for changing of perceptions while dealing with Gold as investment and its usage. Shah said climate change as well as all environmental challenges are serious issues those may impact India’s growth trajectories in short and long term. Shah mentioned India needs to develop several big cities for faster growth.
Shah suggested businesses need to hand hold each other to create healthy growth trajectories in Amrit Kaal. He mentioned efforts are needed to boost and expand MSME sector. Shah mentioned laws , rules, work processes need to be modernised and continuously upgraded and innovated to keep pace with fast changing technological development and other changes.
CA Vinod kumar Goyal in his address said security market is safe for investors. Trust factors has increased as SEBI is implementing laws strictly.

Shri Hari Shankar Halwasiya President of Calcutta Chamber of Commerce while welcoming the guests,said with universal internet access India is poised to become a truly inclusive innovation driven and equitable economy. Shri R. K Chhajer former President of CCC moderated the session. Shri Anant Saharia Senior Vice President of CCC while delivering vote of thanks expressed his optimism that India will scale new heights of growth , development during Amrit Kal. Shrimati Manjula Jain President of CCCLF and other members of CCCLF attended the session.

During Amrit Kal ,India will witness :1) Increased economic growth and prosperity ,
2) Improved healthcare and education systems ,
3) Enhanced global influence and leadership ,
4) Increased focus on sustainability and environmental protection ,
5) Development of smart cities and infrastructure ,
6) Growth of industries like IT, renewable energy, and manufacturing ,
7) Improved digital connectivity and access to services ,
8) Strengthening of democratic institutions and governance 9) Development of smart Agriculture to ensure food security. During Amrit kal ,
India may also face challenges such as:
1)Managing population growth and urbanization,
2)Addressing income inequality and social disparities,
3) Ensuring environmental sustainability and resource management ,
4)Strengthening education and skill development ,
5) Enhancing global competitiveness and trade relationships ,
India’s development journey during Amrit Kal will depend on its ability to successfully harness its strengths, address its challenges, and leverage opportunities for growth and progress.