INDIA’S NEW OPPORTUNITY – 2020

[Pages:10]All India Management Association

Excellence in Management

INDIA'S NEW OPPORTUNITY ? 2020

? 40 Million New Jobs ? $200 Billion Annual Revenue

REPORT OF THE

HIGH LEVEL STRATEGIC GROUP

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CONSULTING PARTNER

T HE B OSTON C ONSULTING G ROUP

IMPLEMENTATION PARTNER

Confederation of Indian Industry

Copyright ? 2003 by All India Management Association, The Boston Consulting Group All rights reserved. Published February 2003.

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Confederation of Indian Industry 23, Institutional Area Lodhi Road New Delhi 110 003, India Phone: 91 11 2462 9994-7, 2462 6164/2462 5407 Fax: 91 11 2462 6149/2463 3168

The thoughts and analyses contained in this report are based on data and assumptions derived from external sources, and are presented for informational purposes only. Though the authors (All India Management Association and The Boston Consulting Group) have used reasonable efforts to compile and analyse the best sources reasonably available to them at the time of writing this report, the authors have not independently verified the completeness or accuracy of the data and assumptions, and they do not make any representation regarding the same. Changes in the underlying data or operating assumptions will clearly impact the analyses and conclusions. Therefore, the information contained in this report should not be relied upon without independent investigation and analysis, and the authors will not be responsible for any liabilities incurred by any third party as a result of reliance upon such information.

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INDIA'S NEW OPPORTUNITY ? 2020

- 40 Million New Jobs - $200 Billion Annual Revenue

REPORT OF THE

HIGH LEVEL STRATEGIC GROUP

INDIA'S NEW OPPORTUNITY ? 2020

Contents

PREFACE

1

E X E C U T I V E S U M M A RY

3

Why is this report different?

5

I N T RO D U C T I O N

7

THE GROWTH IMPERATIVE

11

THE OPPORTUNITY

13

THE UNCERTAINTY

21

THE AGENDA FOR ACTION

30

MAKING IT HAPPEN

34

Marketing India

34

Educating and Training the Indian Workforce

36

Connecting India

40

Sector-Specific Actions

42

CONCLUSION

48

INDIA'S NEW OPPORTUNITY ? 2020

Preface

In an increasingly inter-dependent world, all countries will vigorously pursue policies to optimise comparative factor endowments. The rapid technological changes, while making transactions more seamless, will reinforce the process of global integration. It has been said that the battles of this century will be fought and won on the "power of ideas." Societies will increasingly become knowledgebased and promote knowledge-based industries.

India has a distinct comparative factor advantage as a vast reservoir of skilled manpower. The demographic differentials reveal that over the next 20-30 years, India has distinct advantages in a population profile concentrated in the younger age group, where many new opportunities can be fully optimised.

What are the policies that would enable India to optimise these emerging opportunities and what should we as a nation do in concert so that we turn out to be winners and not losers?

With the objective of answering these questions, the All India Management Association (AIMA) had set up a High Level Strategic Group comprising leaders from industry, academia, and the government. The results of the deliberations of the group, involving in-depth interaction with wide segments of society and decision makers, are contained in this report. A task force comprising AIMA, the Confederation of Indian Industry, and The Boston Consulting Group has been constituted to implement the Action Program that has emerged. I have no doubt that all the stakeholders, including the government, the corporate sector, and academia, will contribute in the implementation of the recommendations contained in the report. This will enable India to enhance its growth, secure additional employment, and maximise the emerging opportunities.

(N. K. Singh) Member Planning Commission Chairman, High Level Strategic Group

PREFACE

1

INDIA'S NEW OPPORTUNITY ? 2020

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