Mumbai, February 14: To achieve the goal of a developed India by 2047, the country must focus on ten key priorities. These include preparing a future-ready workforce, enhancing manufacturing competitiveness, and strengthening MSMEs, according to a new report.
The KPMG report states that the first step in building a future-ready workforce involves implementing continuous education, skill development, and employment initiatives. It also emphasizes the expansion of apprenticeship programs and the development of deep technical skills to prepare talent for jobs in manufacturing, services, and emerging technologies.
The report outlines steps to make manufacturing globally competitive by localizing components, adopting Industry 4.0, increasing factory productivity, and closely linking clusters with export and quality standards.
It suggests that small and medium enterprises (SMEs) should focus on expansion rather than merely surviving through cash flow-based credit, group-based productivity programs, digitization adoption, and structured export incentives linked to key supply chains.
Other priorities include improving trade competitiveness through integrated infrastructure and export diversification.
The BUSINESS advisory firm stated, “Transform asset creation into systemic productivity by developing multi-dimensional corridors and enhancing last-mile and industrial connectivity. Build a corridor-based export ecosystem, leverage free trade agreements (FTAs) and comprehensive economic partnership agreements (CEPA) with region-specific action plans, and strengthen supply chain resilience in critical value chains.”
Additionally, the firm called on policymakers to accelerate public transport-based development, strengthen municipal finance, expand affordable housing, and plan integrated urban areas to make second and third-tier cities the centers of national development.
The firm also emphasized the need to extend social security to informal workers, professionalize care-related infrastructure, and increase women’s participation in the workforce to ensure inclusive growth.
It highlighted the necessity of attracting private capital to improve the quality of public spending, strengthening revenues at the central, state, and city levels, and moving towards outcome-based budgeting supported by digital tracking.
KPMG India CEO Yezdi Nagporewalla stated, “India has established a strong foundation, and now the focus is on translating investment into greater productivity and, consequently, competitiveness. The development of our country will be determined by deep manufacturing capabilities, skilled talent, empowered SMEs, efficient infrastructure, and future-ready cities.”
