Private Investment Deemed Essential for Realising India's Viksit Bharat Vision

At a conference of finance ministers and secretaries from Indian states and Union Territories, Economic Affairs Secretary Anuradha Thakur stressed that the Viksit Bharat development plan requires substantial private sector investment, since public budgets are insufficient to cover the massive financing needs. She cited recent sovereign rating upgrades by agencies such as JCR, S&P Global Ratings, Rating and Investment Information, Inc., and Morningstar DBRS as signals of India's macroeconomic stability and attractiveness to investors.

Thakur also noted recognition from the World Economic Forum’s Chief Economists Outlook, underscoring the country's improving business climate. She called for continued centre-state collaboration on policy, funding sources, and implementation to drive the initiative forward. The meeting’s theme, “Financing India’s Journey Towards Viksit Bharat,” will keep this perspective at the forefront of discussions.