India’s journey toward Viksit Bharat 2047 must marry ambition with analytical clarity. Anchored in the Prime Minister’s vision of Amrit Kaal, this framework sets out a quantified, evidence-based pathway to a USD 20-30 trillion economy.

It links the drivers of growth - capital formation (GFCF), efficiency (ICOR) and total factor (TFP) productivity - to rising per-capita incomes through a robust macro-economic model. Central to this vision is the Tokenised Rupee Debt Instrument (TRDI), a regulated innovation that tokenises sovereign debt to deepen domestic capital markets and enhance fiscal and external resilience of additional long-term GDP growth.

India’s development trajectory is unfolding amid a rapidly evolving geopolitical and geoeconomic environment marked by global power shifts, supply chain realignments, technological disruption and climate stress. In this context, governance has emerged as the decisive factor shaping sustainable, resilient and inclusive growth.

Domestically, India’s federal paradigm is undergoing a significant transformation, with states assuming a more strategic role in driving economic outcomes. States are increasingly at the forefront of attracting investment, developing infrastructure, skilling, urbanisation, and delivering social services. Competitive federalism is evolving into a collaborative, performance-oriented framework.

India’s journey towards becoming a developed nation will ultimately be determined by how effectively its states govern, innovate and deliver in an increasingly complex global order.