Need to lead in sunrise sectors to achieve $32 tn target: Kant
India's G20 Sherpa Amitabh Kant on Friday said the country needs to become a global champion in sunrise sectors to achieve the target of becoming a developed nation and USD 32 trillion economy by 2047.
Addressing the 'Bharat Climate Forum 2025', Kant further said the US, Europe and India have lost the art of manufacturing, and this will have huge implications for the global economy.
"My belief is that without India becoming a global champion in sunrise sectors, we would not be able to achieve the target of becoming a developed nation by 2047, we will never be able to become a USD 32 trillion economy," he said.
Kant pointed out that in solar panel manufacturing, Indian industries are 5-7 years behind the curve.
Noting that India's industry is persistently focusing on fossil fuel vehicles, he said, "If you do not become a manufacturer of electric vehicles (EVs), then you will lose the EV market globally".
The former Niti Aayog CEO said if India does not make a major radical shift towards cutting-edge technology, it will remain a huge importers of clean technology.
He said India is one of the few countries which is climatically blessed.
Kant said India's private credit to GDP must go up as it is lower compared to the US, Europe and China.
He also provided insights into delivering cost-competitive clean tech solutions.
