Governor C P Radhakrishnan has expressed bold optimism about India’s economic future, stating that it will become the world’s largest and strongest economy by 2047. He further predicts that Maharashtra, under the leadership of Chief Minister Eknath Shinde and Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, will become an economic powerhouse, surpassing even Germany and Japan in terms of economic size.
Radhakrishnan made these statements during his first public appearance after assuming office as the Governor of Maharashtra. Speaking in Thane, he praised the Maharashtra government’s efforts in propelling economic growth and pledged his full support in achieving this ambitious target. He emphasized the collective responsibility of all stakeholders in working towards this goal, stating, “We all should work towards it… I will work with you as a team member so that Maharashtra’s economy becomes larger than Japan and Germany, and our aim should be to take the benefits of our progress to the remotest and isolated villages.”
Radhakrishnan’s vision aligns with the recent announcement by Maharashtra’s Deputy Chief Minister Devendra Fadnavis that the state has become the first in India to surpass a half-a-trillion-dollar economy. This milestone reflects Maharashtra’s rapid economic progress and is attributed to strategic infrastructure projects, robust industrial growth, comprehensive welfare schemes, and effective agricultural support. Fadnavis called for unity in sustaining this momentum, emphasizing the importance of working together to contribute to national growth and strengthen India’s standing on the global stage.
Experts like former CEA KV Subramanian further reinforce the potential for India’s economic growth. Subramanian, in his book ‘India@100 Envisioning Tomorrow’s Economic Powerhouse,’ posits that India can achieve a $55 trillion economy by 2047 if it sustains an 8% annual GDP growth rate. He highlights the significance of consistent policy implementation by the government to achieve this target.
While celebrating its economic achievements, Maharashtra remains committed to inclusive growth, ensuring that the benefits reach even the most remote regions. Governor Radhakrishnan’s vision for Maharashtra’s economic dominance underscores the state’s potential as a driving force behind India’s economic rise on the global stage.
