The NITI Aayog, the government’s think tank, has unveiled an ambitious plan for the economic transformation of four cities – Mumbai, Surat, Varanasi, and Vizag – with the aim of making them engines of growth and helping India become a developed economy by 2047.
The plan, which was announced by NITI Aayog CEO BVR Subrahmanyam on Saturday, February 10, 2024, outlines the key sectors, strategies, and targets for each city, based on their strengths, challenges, and potential.
According to the plan, Mumbai, the financial capital of India, will focus on enhancing its competitiveness, innovation, and livability, and aim to achieve a GDP of $300 billion by 2030 and $1 trillion by 2047. Surat, the diamond and textile hub, will leverage its manufacturing prowess, diversify its economy, and improve its urban infrastructure, and aim to achieve a GDP of $100 billion by 2030 and $400 billion by 2047. Varanasi, the spiritual and cultural centre, will boost its tourism, handicrafts, and renewable energy sectors, and aim to achieve a GDP of $10 billion by 2030 and $50 billion by 2047. Vizag, the coastal city, will develop its port, logistics, and IT sectors, and aim to achieve a GDP of $40 billion by 2030 and $200 billion by 2047.
The plan also envisages the creation of millions of jobs, improvement of social indicators, and reduction of carbon emissions in these cities, which together account for about 10% of India’s population and 15% of its GDP.
The NITI Aayog has prepared the plan after extensive consultations with the state governments, city authorities, industry associations, academic institutions, and civil society organizations. The plan is part of the broader vision document for India to become a $30 trillion economy by 2047, which will be released by Prime Minister Narendra Modi.
Subrahmanyam said that the NITI Aayog will also prepare economic planning for 20-25 more cities, as they are the centre of economic activities and have the potential to contribute significantly to the national growth.
He said that the NITI Aayog has also sought the views of the country’s youth on December 11, 2023, to drive its vision for making India a developed nation by 2047. He said that so far, the Aayog has received more than 10 lakh detailed suggestions from the youth, and is processing them using artificial intelligence.
He said that the NITI Aayog’s plan for economic transformation of the cities is based on the principles of cooperative federalism, competitive federalism, and collaborative federalism, and aims to foster a spirit of partnership and innovation among all stakeholders.
He expressed confidence that the plan will help the cities achieve their aspirations and overcome their challenges, and make them role models for the rest of the country and the world.
