India’s mission of becoming a ‘developed nation’ by 2047 the government’s vision, was underscored by Union Finance Minister Nirmala Sitharaman as she announced the interim budget for 2024. As a part of her speech, the FM said, “We are working to make India a ‘Viksit Bharat’ by 2047. To achieve this, we need to improve people’s capabilities and empower them.”
The budget acknowledges the role technology is poised to play in this transformative journey and allocates a corpus of Rs. 1 trillion for research in technology. In an age marked by technological advancement and growth, harnessing innovation, across various sectors is not just a choice but an imperative. Let’s delve into how technology can drive India’s Vision 2047 ushering in an era of development and prosperity.
Establishing Digital Infrastructure for Inclusive Growth
Building a robust digital infrastructure can propel the nation forward. The government aims to achieve internet connectivity and extend services reach to over 90% of the population, by 2030 is a step towards ensuring that the benefits of technology reach every nook and corner of the nation. By bridging the divide citizens will gain access to education, healthcare and economic opportunities.
Smart and Sustainable Urbanization
The development of cities, driven by technology is slated to enable management of resources improved public services and a better quality of life. By integrating tech-enabled solutions, we can work to build futuristic cities with reduced energy and enhanced liveability. This step towards smart and sustainable urbanization aligns with the environmental goals set forth by the Vision 2047 initiative.
Digital Education and Learning
An essential aspect of ‘Viksit’ will be the focus on an education system that leverages the potential of technology. Online learning platforms, virtual classrooms and interactive educational tools have the potential to make quality education accessible to all. Online education has witnessed a staggering increase in e-learning users. The government aims to enhance digital learning capabilities to ensure continuity and quality in education.
Innovation Economy and Startups
Establishing an ecosystem that promotes innovation is paramount for achieving Vision 2047 objectives. Incentives and support are being extended to encourage startups in their research and development efforts thereby fostering the creation and implementation of solutions. Data shows that India is currently home to more than 100,000 startups with a commitment from the government to double this number by 2025. In addition, investments in the startup ecosystem are projected to reach USD 100 billion by 2030.
Precision Agriculture of the ‘Annadata’
One area where technology is expected to make a significant impact is agriculture. By leveraging IoT and data analytics precision agriculture can optimize resource usage, boost crop yields and reduce risks. Studies have indicated that precision agriculture technologies have the potential to increase crop yields by up to 25% while reducing water consumption by around 30%. As part of its goals for the future, the government aims to implement precision farming practices across half of all land by 2030.
Health-Tech powering the Future of Health and Wellness
Creating efficient healthcare systems has been a priority, technology plays a pivotal role in enabling telemedicine services, health information systems and data-driven diagnostics. Such advancements can lead to a healthcare system that responds effectively to health needs. To support this, the government plans on investing USD 2 billion in health-tech infrastructure with an emphasis on promoting health records and remote patient monitoring.
Cybersecurity and Digital Governance
As India embraces the wave of transformation ensuring the security of critical assets and safeguarding sensitive information becomes of utmost importance. The number of cybercrimes reported in India has witnessed a staggering increase. To strengthen cybersecurity measures including establishing the Indian Cyber Coordination Centre (I4C) the government nearly double the allocation to cybersecurity projects.
Clean Energy and Environmental Sustainability
To realize the ‘Viksit’ vision embracing sustainability has been earmarked as a crucial pillar. Technological advancements pave the way for innovations in energy generation, efficient waste management systems and effective pollution control measures. By 2030 India aims to achieve a target of having 40% electric power capacity derived from non-fossil fuel-based energy resources. Over the decade investments are expected to be made in energy projects.
In our pursuit of Vision 2047, technology emerges as the cornerstone that can propel India into an era of development. The government’s commitment to making India ‘Viksit’ heavily relies on harnessing the potential of innovation alongside digitalization and connectivity. By adopting a technology-first approach, across sectors India has an opportunity to transform into a developed nation while fostering inclusive growth and prosperity for all.