India should become a tech-creator rather than tech-user nation: Niti Aayog vice-chairman Ashok Lahiri

India's vice-chairman of the Niti Aayog, Ashok Lahiri, has called for increased investment and proper allocation to enhance the nation's technological prowess. During his address at the SRCC Centenary Conclave, Lahiri emphasized the urgency of implementing economic reforms and structural changes to propel India to the status of a developed country by 2047. He highlighted that technological advancements are crucial to compete with other global powers.

Acknowledging current efforts to foster innovation and entrepreneurship, Lahiri urged India to shift its focus from being a consumer of technology to becoming a creator. He pointed to the success stories of countries like China, South Korea, Taiwan, and Japan, which experienced rapid growth in per capita income and achieved high-income status.

According to Lahiri, a high-income economy is one with a gross national per capita income above a certain threshold. For 2027, the threshold is set at $14,375, and to estimate India's target, he mentioned that considering inflation, the required per capita income for 2047 could range between $18,000 to $20,000.

Currently, India's per capita income is $2,813. To reach the target of $18,000 by 2047, the nation needs to grow six-and-a-half times at an annual nominal rate of approximately 9.25% over the next 21 years, according to Lahiri. He identified education, health, and infrastructure as the three key areas that could accelerate the country's growth.

Lahiri stressed that human capital is vital for economic growth and overall well-being. He explained that human capital, combined with raw materials, machines, and technology, produces goods and services. The quality of human capital is determined by education and health, he added. He noted that there has been progress in literacy, life expectancy, and infrastructure since India gained independence.

However, further improvements are necessary in education and health. He set a goal for India to achieve 100% foundational literacy and numeracy, while ensuring significant advancements in health metrics. Lahiri pointed out that India's literacy rate is currently 81.1% (2026) from 12% in 1947, and life expectancy has increased to 71.03 years.