G20 Sherpa Amitabh Kant has said today that high growth of 8 to 9 percent could be driven by the focus on manufacturing and urbanization. Speaking at the occasion of releasing the report titled 'The Rise of India's Middle Class' in Delhi, Mr Kant said, sustainable urbanization is the way forward and about five thousand 500 census towns need to have master planning. He added that the bulging middle class holds immense power to drive sustained economic, political, and social growth in India.
The G20 Sherpa said that as the middle class rises, demand for quality healthcare, education, housing, consumer goods, and many other things will also rise.
Speaking at the event, former NITI Aayog vice chairman Arvind Panagariya said, India needs to revamp and improve its higher education system to take advantage of the declining working-age population in developed countries like US and European nations.
He emphasized that India is really going to be the only large country aside from Africa that would be contributing positively to the working age group of the world. Citing the United Nations Population Division numbers, he said, India would be adding around 150 million individuals in the working-age population category 15 to 64 by 2040.
