PAFI’s Annual Forum will celebrate its 10th year. In this last decade, PAFI’s Annual Forum has been a platform for interactive deliberations and has defined the direction for long-term broader policy and economic agenda.

The discussion, debates and dialogues emerging from active participation and interaction with a diverse set of stakeholders at the annual forum has contributed to developing a conducive growth & development-oriented policy framework. The Annual Forums over the decade has witnessed active participation by Government- Ministers both from the Centre and States, officials representing central and state governments, CEOs, opinion leaders, shapers, members of global and multilateral organizations, media, think-tanks, academia, social & young entrepreneurs and legislators.

The Context

The 10th year of the Annual Forum shall emphasize on the key areas of India’s growth trajectory.

The theme –

INDIA’S VISION @ 2030: 3RD LARGEST ECONOMY – ISSUES, IDEAS, IMPLEMENTATION will explore how well India can continue to sustain and accelerate this positive momentum over the next seven years.

This year, PAFI’s flagship event, the Annual Forum, celebrates its 10th year. The Annual Forum has defined the direction for long-term broader policy and economic agenda through active participation by ministers and officials representing the centre and state governments, legislators, CEOs, shapers of opinion, thought-leaders, members of global and multilateral organisations, media, think tanks, academia, and social & young entrepreneurs.

The partner state for PAFI’s 10th Annual Forum is Uttar Pradesh, which, as the third largest economy of all the states in India, accounts for eight percent of India’s GDP. In India’s march towards the third largest economy, Uttar Pradesh aims to contribute USD one trillion to the national GDP. For this, the state has improved the ease of doing business, making it attractive to investors. It has developed infrastructure in healthcare, roadways, education, tourism, and sports and has emerged as a critical hub for IT and ITeS industries.

The 10th year of the Annual Forum emphasises critical areas of India’s growth trajectory in keeping with the Prime Minister’s vision of making ‘India the 3rd Largest Economy.’ The theme, ‘India’s Vision @ 2030: 3rd Largest Economy,’ outlines the necessary steps to sustain and accelerate India’s positive momentum through the 3 I’s—Issues, Ideas, and Implementation. The issues that need more focused attention include:

1. Geopolitics and its impact on business:

The Ukraine war, the Covid-19 pandemic, and global financial crises are some of the disruptions which have brought focus on how geopolitics impacts business. Global instability has jumped to the top of CEO agendas.

What safeguards do companies need to counter global risks, and what attempts can be made to hedge against their impact on business?

2. Encouraging investments and nurturing businesses:

India’s sustained growth needs investments, both in traditional industries and in scaling up R&D. This includes a focus on FDI and DI (Domestic Investment). Additionally, India needs globally competitive manufacturing, involvement in the supply chains, and boosting exports. Moreover, achieving ‘Aatmanirbhar Bharat’ requires a focus on Industry 4.0 by conducive policies that transform the ease of doing business into the pleasure of doing business in India.

How do we ensure that the policy apparatus is holistically ideating the socioeconomic issues to act as a catalyst for India’s economic prosperity?

3. States as drivers of growth:

States must work together and learn from each other for India to achieve its target of becoming the third largest economy. They must emerge as facilitators of private investment.

How can states be more proactive in encouraging the manufacturing sector? What steps are states taking to move from red tape to red carpet?

4. Climate change and SDG goals:

With a target of reaching net zero by 2070, India has renewed focus towards ESG, renewables, green economy, electric mobility, and green hydrogen, along with directive policies for SDG 2030 goals. We need to increase our capacity for renewables capacity and innovate to excel as producers of alternate energy.

How can India’s commitments to net zero and going green translate into action? How can MSMEs, as a significant section of the ecosystem, navigate these competing and complementary choices?

5. Diversity and Inclusion:

India is expected to add 97 million people to its workforce in the next decade. However, its female labour participation rate of 23% is less than half of the global average of 47%. This extends to the public sector as well. Organisations must encourage diversity at all levels to channel growth, especially in leadership positions.

How can corporate India further encourage D&I, considering it is directly proportional to productivity and profits?

6. Focus on Select Sectors:

To have a healthy India and to make India the healthcare destination of the world, the vision of the government and stakeholders, including healthcare providers, pharma, medtech companies and innovators, must be aligned. To ensure that the growing India never goes hungry, it is essential to scale up the infrastructure and supply chain in agriculture. Enhanced R&D and exports by the food processing industries will impart greater resilience and more equitable distribution of resources. The education system is undergoing a structural shift, and Edtech plays a major role in ensuring an educated and skilled young population. The government and private sectors are in harmony to continue India’s embrace of the digital age.

The policy discourse and industry’s approach towards key sectors will define the economic paradigm of the nation. How can they help robust growth for India?

 contact :

Lakshmi.kanchaan@pafi.in www.pafi.in