Amitabh Kant says India needs to create 2-and-a-half Americas in next 50 years; here’s why

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Updated: January 15, 2019 4:51 PM

As the pace of urbanisation increases, India is faced with a demanding task to accommodate the people moving from rural to urban areas, said Amitabh Kant.

Niti Aayog, Niti Aayog amitabh kant, angel investors, KYC compliance, angellist india, angel fundThe country would see more urbanisation in the coming 50 years than in the last 5000 years, Amitabh Kant said.

As the pace of urbanisation increases, India is faced with a demanding task to accommodate the people moving from rural to urban areas, said Amitabh Kant. Speaking at the launch of the Global Housing Technology Challenge – India in New Delhi on Monday, CEO of NITI Aayog said, “the challenge for India is to create in next 5 decades 2-and-a-half Americas.”

The country would see more urbanisation in the coming 50 years than in the last 5000 years, he added. “..by 2050, according to latest McKenzie study, you will have 700 million Indians getting in to process of urbanisation in india,” he also said. However, the slow speed of construction and high interest rates offer major challenges in accommodating the people shifting to cities, he noted.

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The housing construction period must come down to 4-5 months using the best technologies from across the world, he added. India needs to bring best housing technologies from across the world and turn the local builders into best ones globally, he expressed.

Meanwhile, in December last year, Amitabh Kant had said that achieving a double digit growth in the manufacturing sector on sustainable basis is a “doable challenge” but for that the country needs to integrate with global markets. Referring to the draft report of Department of Industrial Policy and Promotion (DIPP) on making India a $5 trillion economy by 2025, he had said the plan envisages an annual GDP growth rate of 11.7 per cent.

“To my mind that’s a challenge, but it is a doable challenge. We have to be extremely competitive and across chemicals, across automobile, across metals and that would require size and scale,” he had then said.

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