Charting India’s Economic Future: A Vision for 2047
Distinguished scholar from the Institute for International Economic Policy outlines key reforms and challenges on India’s path to becoming an advanced economy
By Arjun Sherugar
On October 22, 2024, The India Center at UCF recently welcomed Ajay Chhibber, Ph.D., Distinguished Visiting Scholar at the Institute for International Economic Policy at George Washington University and Non-Resident Senior Fellow at the Atlantic Council, for a thought-provoking lecture titled “Making India an Advanced Economy by 2047: What Will It Take?”
Held as part of the Center’s ongoing efforts to promote dialogue on contemporary India, the event drew students, faculty, and community members interested in India’s economic trajectory. Chhibber’s presentation examined the structural reforms and policy shifts necessary for India to achieve advanced economy status by its centennial year of independence.
Using data-driven insights and visual aids, Chhibber addressed key challenges including public trust in governance, healthcare accessibility, and the need for strategic government investment in sectors such as defense, education, and infrastructure. He emphasized that without addressing these foundational issues, economic progress could be undermined.
The event was moderated by Buvaneshwaran Venugopal, Ph.D., Assistant Professor of Finance at UCF, who facilitated a dynamic discussion following the lecture. Audience members engaged with Chhibber on topics ranging from employment flexibility and skill development to land reform and financial inclusion.
A significant portion of the conversation focused on healthcare, which Chhibber identified as a critical barrier to economic mobility. He noted that high out-of-pocket medical expenses often push families back into poverty, highlighting the need for systemic reform.
“Dr. Chhibber’s insights offered a comprehensive view of the opportunities and obstacles India faces on its path to becoming an advanced economy,” said Leila Chacko, Director of Public Affairs at The India Center. “We were honored to host such a distinguished expert and provide our community with a platform for meaningful dialogue.”
The event underscored The India Center’s mission to foster scholarship, education, and outreach on issues shaping India’s future.