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Updated December 6th, 2023 at 17:06 IST

India’s growth will accelerate further to 9%: Amitabh Kant

Amitabh Kant underscored the efficiency of direct money transfers to bank accounts through 700 schemes, a model now emulated by the US and Europe.

Reported by: Tanmay Tiwary
India Economic Summit
Republic Business India Economic Summit | Image:India Economic Summit
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India's G20 sherpa, Amitabh Kant, emphasised the critical role of political leadership during the Republic India Economic Summit 2023. He stressed the need for consistency and predictability, Kant highlighted the importance of continuity in leadership for India to raise its per capita income, projecting accelerated growth to 9 per cent.

Kant said, “India's strides in digitisation, boasting a whopping 46 per cent real-time payment penetration—11 times that of Europe and the US and four times that of China.”

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He underscored the efficiency of direct money transfers to bank accounts through 700 schemes, a model now emulated by the US and Europe. In a departure from the norm, India added a layer to big tech-driven innovation by incorporating public input.

At the G20 summit in New Delhi, India demonstrated both political and technological leadership, achieving unprecedented consensus. Kant further declared India the only country with such a dual prowess.

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Looking ahead, Kant predicted that the next two decades would witness growth emanating from emerging markets (EMs), positioning India at the forefront of this economic revolution.

The Republic India Economic Summit marked its third edition, and amidst the event, Arnab Goswami, Editor-in-Chief of Republic Media Network, announced the launch of Republic Business—the company's fifth mega product.

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The announcement took place in the presence of notable figures such as Petroleum Minister Hardeep Singh Puri, India’s G20 sherpa Amitabh Kant, and market veteran Ajay Bagga, further solidifying Republic's commitment to innovation and expansion in the business sector.

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Published December 5th, 2023 at 10:49 IST

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