To achieve the goal of ‘Viksit Bharat 2047’ (Developed India 2047), it is essential for the country’s economy to grow at a rate of 7-8 percent; significant investment from the private sector and robust export growth will play a pivotal role in this. Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), made this statement on Tuesday.
Speaking to reporters during a FICCI event in the national capital, he remarked, “Both private sector investment and a rise in exports are crucial.” Dev further added that the structural reforms implemented over the past few years have laid the foundation for progress in this direction.
According to recent data from the Ministry of Statistics, India’s GDP growth is estimated at 7.8 percent for the January-March quarter of 2025-26. Driven by the stellar performance of the agriculture, construction, and services sectors, the growth rate for the entire fiscal year stood at 7.7 percent.
According to the government statement, the secondary sector recorded robust growth of 8.8 per cent during this period, while the tertiary sector grew by 9.9 per cent. Meanwhile, the primary sector registered a growth of 3.2 percent, primarily driven by the performance of the agriculture and fisheries sectors.
The government statement indicates that double-digit growth was recorded in sectors such as manufacturing, trade, repair, hotels, transport, communication and broadcasting, storage, finance, real estate, and professional services during 2025-26. This reflects the massive investments made by the government in major infrastructure projects like highways, railways, ports, and airports.
These investments have helped boost the growth rate, allowing India to remain the fastest-growing economy despite the global slowdown. Dev expressed his pleasure that FICCI is organizing this significant and innovative conclave on crop nutrition, bringing together all stakeholders—including farmers—on a common platform.
