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10 Priorities to Build a Viksit Bharat by 2047: KPMG Report

A new report from KPMG in India outlines ten critical priorities for achieving the goal of a developed 'Viksit Bharat' by 2047. Key focus areas include creating a job-ready workforce through education and skilling, and enhancing manufacturing competitiveness via localisation and Industry 4.0. The report also emphasises scaling MSMEs through better credit and digital adoption, alongside improving infrastructure and trade ecosystems. According to the firm, India must now shift focus to execution, converting investments into productivity and future-ready cities.

Key Points: Viksit Bharat 2047: KPMG Report Outlines 10 Key Priorities

  • Build future-ready workforce
  • Boost manufacturing competitiveness
  • Scale MSMEs from survival to growth
  • Develop integrated infrastructure & trade
  • Strengthen municipal finance & cities
2 min read

Building future-ready workforce, scaling MSMEs key for Viksit Bharat at 2047: Report

A new KPMG report details 10 priorities for India to become a developed nation by 2047, focusing on workforce, manufacturing, MSMEs, and infrastructure.

"India has established a solid foundation, and now the focus shifts to execution by converting investment into greater productivity. - Yezdi Nagporewalla"

Mumbai, Feb 14

India should focus on 10 priorities, ranging from building a future‑ready workforce to deepening manufacturing competitiveness and scaling MSMEs, to reach the goal of 'Viksit Bharat' by 2047, a new report has said.

The report from KPMG in India said the first step of building a future ready workforce calls for operationalising education, skilling and employment continuum, expanding apprenticeships and building deep‑tech capability so talent is job ready across manufacturing, services and emerging technologies.

The report highlighted moves to make manufacturing globally competitive by localising components, adopting Industry 4.0, raising factory productivity, and aligning clusters closely with exports and quality standards.

MSMEs should shift from survival mode to scale mode through cash‑flow based credit, cluster‑led productivity programs, digital adoption and structured export enablement linked to anchor supply chains.

Other priorities include integrated infrastructure and improving trade competitiveness with export diversification.

"Convert asset creation into system level productivity by developing multimodal corridors, improving last mile and industrial connectivity. Build corridor-led export ecosystems, leverage FTAs and CEPAs with sector specific playbooks, and strengthen supply chain resilience in critical value chains," the business advisory firm noted.

Further, the firm called on policy makers to accelerate transit led development, strengthen municipal finance, expand affordable housing and plan integrated city regions to make tier 2 and 3 locations growth engines of the country.

"Expand social security for informal workers, professionalise care infrastructure, increase women's workforce participation to make the growth broad based," it said.

It highlighted the need to crowd in private capital, strengthen Centre, State and city level revenues, and shift to outcome-based budgeting supported by digital tracking to improve the quality of public spending.

"India has established a solid foundation, and now the focus shifts to execution by converting investment into greater productivity and consequently competitiveness. Our country's growth will be shaped by deep manufacturing capabilities, skilled talent, robust MSMEs, efficient infrastructure, and cities prepared for the future," said Yezdi Nagporewalla, CEO, KPMG in India.

- IANS

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Reader Comments

P
Priya S
Scaling MSMEs is the heart of the matter. My uncle runs a small auto parts unit and the struggle for timely credit and adopting new tech is real. If policies can genuinely help them shift from survival to scale, it will create massive local employment. Hope execution matches the vision.
S
Sarah B
The point on increasing women's workforce participation is critical and often gets lip service. Professionalising care infrastructure (like childcare) is a game-changer. Growth cannot be broad-based if half the population is not fully participating in the economy.
R
Rohit P
All good points on paper. But the real challenge is execution at the ground level, especially in tier 2/3 cities. "Strengthening municipal finance" and "outcome-based budgeting" sound great, but will require massive transparency and fighting corruption. That's the tough part.
V
Vikram M
Deep-tech capability and Industry 4.0 for manufacturing is the need of the hour. We can't just be an assembly hub; we need to master the core technologies. The China+1 strategy is an opportunity, but we need to be competitive on quality and productivity, not just cost.
K
Kavya N
While I agree with most priorities, the report seems very top-down. For MSMEs and informal workers, change needs to be felt at the *mohalla* level. Simplifying daily compliance and providing real-time market access via digital platforms can be more impactful than large cluster programs sometimes.

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