Ahmedabad, Aug 28: India’s push towards becoming a developed and leading economy by 2047 will depend on sustained economic growth, policy changes, effective implementation and the ability to channel the country’s youth potential, Union Home and Cooperation Minister Amit Shah said on Thursday.
Speaking at the RV Patel Pharminova Awards 2026 ceremony organised by Troikaa Pharmaceuticals Ltd at Sindhu Bhavan, Shah said India had moved from the world’s 11th-largest economy when Narendra Modi became Prime Minister in 2014 to the fourth-largest economy.
He said the country’s progress over the past decade demonstrated the importance of establishing clear national goals and maintaining sustained efforts towards achieving them.
Shah referred to the vision for India in 2047, when the country will complete 100 years of Independence. He said the Azadi Ka Amrit Mahotsav celebrations had encouraged citizens, particularly young people, to study the history of the freedom struggle, understand India’s journey since Independence and assess its position in the world.
The vision, he said, includes building an India that is secure, educated and cultured while preserving its values, strengthening its economy and attaining a leading position in the global economic order.
Shah said India possessed the capacity to achieve these objectives but needed to direct the strength and talent of its youth towards the right goals. He also stressed the need for policies suited to changing requirements and their effective implementation.
He said India had undergone extensive changes in its policies, regulations, mindset and working methods since 2014. According to Shah, companies from around the world were increasingly interested in investing in India, while the country was strengthening its position as a manufacturing hub.
The pharmaceutical sector formed a significant part of his remarks. Shah cited initiatives such as bulk drug parks, medical device parks and the Production Linked Incentive scheme as efforts aimed at establishing a world-class manufacturing ecosystem.
He said these measures would also contribute to reducing India’s dependence on China in the global pharmaceutical supply chain. Around Rs 67,000 crore of investment had been encouraged in the pharmaceutical sector, he said, adding that India had made significant progress in drug exports.
Shah described pharmaceuticals as a national strategic asset rather than only an industrial sector, linking the industry to India’s tradition, talent and research capabilities.
He also paid tribute to late Rajnibhai, saying he had understood the essence of the pharmaceutical business and worked to advance it.
Looking towards 2047, Shah said sustained research, scientific capability, entrepreneurship and appropriate policy would remain important to India’s ambition of becoming a developed and leading nation.
His remarks placed policy adaptation and implementation alongside youth participation and industrial capability as central elements of the long-term economic vision for 2047.
