India’s sustained economic growth in the next two decades will depend on investments in human capital and regulatory changes, according to a senior policy expert. Speaking at the New India Conference, Hemang Jani highlighted skills and workforce shortages as significant hurdles to India’s long-term goals.
Jani, a Public Policy & Governance expert at the World Bank, stressed the need for India to accelerate reforms to maximize its global positioning. He emphasized the importance of maintaining a growth rate of at least 8% over the next 20 years to achieve its economic ambitions, citing challenges such as unemployment and skill development.
Experts underscored the necessity for India to focus on enhancing human capital through investments and ensuring regulatory predictability. Nisha Biswal, a Partner at The Asia Group, noted the substantial growth in bilateral trade between the US and India, driven by India’s economic ascent reshaping global engagements.
Biswal highlighted the increasing interest in India due to shifting global supply chains and concerns regarding over-reliance on China. She mentioned that businesses are exploring opportunities in India, considering factors like market size and skilled workforce. The discussion emphasized the pivotal role of state-level reforms in attracting investments and fostering economic growth in India.
