Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), on Tuesday said India must sustain 7 to 8 per cent annual GDP growth to achieve the Viksit Bharat vision by 2047 — a target that will require a significant step-up in private sector investment and robust export performance.

What the EAC-PM Chairman Said

Speaking on the sidelines of a FICCI India event in New Delhi, Dev said, 'private sector investment is equally important and also export growth important. Prime Minister Narendra Modi has mentioned about Atmanirbhar Bharat, that is equally important.' He added that structural reforms implemented over the past several years have laid the groundwork for sustaining this growth trajectory.

Where India Stands: GDP Snapshot

India's GDP growth was estimated at a robust 7.8 per cent in the January–March quarter (Q4) of 2025-26, according to data released by the Ministry of Statistics. This pushed the full-year growth rate for 2025-26 to 7.7 per cent, supported by strong performances in agriculture, construction, and services.

The secondary sector recorded 8.8 per cent growth, while the tertiary sector expanded by 9.9 per cent. The primary sector grew at 3.2 per cent, driven largely by agriculture and fisheries. Notably, manufacturing, trade, hotels, transport, communications, financial services, real estate, and professional services all achieved double-digit growth during 2025-26, according to official data.

Infrastructure Investment as a Growth Driver

The broad-based expansion reflects the government's sustained push into large-scale infrastructure — highways, railways, ports, and airports — which economists say has generated multiplier effects across sectors. This comes amid a global slowdown in which India continues to be positioned as the world's fastest-growing major economy, though sustaining that distinction over the long term will depend on private capital flowing in alongside public spending.

The Viksit Bharat Challenge

Achieving developed-nation status by 2047 — the centenary of India's independence — is an ambitious target that requires not just headline growth but structural transformation. Dev's emphasis on private investment and exports signals that the government's advisory body views the current public-investment-led model as necessary but insufficient on its own. Critics and economists have long argued that private capex has remained subdued even as government infrastructure spending has surged.

Dev at FICCI Crop Nutrition Conclave

Dev was speaking at a FICCI innovative crop nutrition conclave, where he welcomed the industry body's initiative to bring farmers, industry, and government onto a common platform. 'The future of plant nutrition will be a collaborative effort between farmers, industry, and the government,' he said, noting the significance of FICCI's task force on innovative crop nutrition.

With India's growth trajectory holding above 7 per cent for now, the pressure is on policymakers to translate macro momentum into the private investment and export competitiveness needed to keep that pace through the next two decades.