India needs to boost its investment rate, expand labour-intensive manufacturing, and improve basic health and education to become a developed economy by 2047, said Mahendra Dev, chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), on Tuesday. He warned that job creation will remain slow unless private investment and state-level reforms accelerate. Speaking at the Business Standard Manthan Summit 2026, Dev said India’s per capita income must reach around $18,000 by 2047, which requires 7-8% annual real GDP growth, supported by an investment rate of 34-35% of GDP—up from the current 30-31%—and sustained export growth. “Investment and exports are the two main drivers,” he emphasized.
He noted that no country has achieved 7-8% growth without strong exports. India currently contributes about 2% to global merchandise trade, while its services exports account for roughly 4.3%. Dev outlined three key development goals: achieving developed-country-level per capita income by 2047, making growth genuinely inclusive through quality jobs rather than just redistribution, and meeting the net-zero emissions target by 2070. Inclusion, he stressed, should focus on providing quality employment, not just taxing the rich.
India has historically underperformed, growing at about 3.5% annually for nearly four decades, which translated into only 1% per capita income growth due to population growth of 2.5%. “We lost twice—first by focusing on large-scale industries without labour-intensive manufacturing, and second by delaying reforms by 15-20 years,” he explained.
Dev highlighted chronic weaknesses in basic health and education, despite India producing world-class institutions like IITs and IIMs. He noted that reforms since 2014, such as increased public spending on infrastructure and capital formation, are beginning to address these issues and attract private investment.
However, he warned that private sector investment remains insufficient. Many industrialists cite uncertainty and weak demand as reasons to hold back. “Without private capital, higher growth is not possible,” he said. He also emphasized the importance of state-level reforms, noting that implementation occurs at the state level and requires coordination for effectiveness.
On manufacturing, Dev rejected claims of stagnation, pointing out that real value added in the sector has grown 35% over the last decade, with employment also rising. However, manufacturing’s share of GDP and employment hasn’t increased because services have grown faster. To generate mass employment, he urged policies promoting labour-intensive sectors such as garments, leather, footwear, gems & jewellery, and marine products, supported by free trade agreements for better market access.
In agriculture, he advocated shifting from a production-focused approach to a full value-chain strategy, emphasizing post-harvest infrastructure like storage, logistics, and agro-processing. Integrating small farmers into cooperatives and providing access to inputs, technology, credit, and markets is crucial. He also noted that non-farm income is increasingly critical, as households “walk on two legs”—farm and non-farm—for adequate livelihoods. Skills development is vital to bridge the gap between farm and non-farm opportunities. With a median age of 28-29, India has a 10-12 year “demographic dividend” window, which will be lost without urgent upgrades to education and vocational training.
Dev expressed cautious optimism about artificial intelligence (AI) and digital technologies, which could boost GDP by up to 1 percentage point and be applied in sectors like agriculture, health, and education. He stressed that AI must be inclusive to avoid widening inequality, citing examples like “drone didis” delivering digital services to farmers. Finally, he highlighted the need to strengthen decentralization and governance, particularly in health and education. He noted that local governments in countries like China manage nearly half of public spending, compared to just 3% in India, and called for more fiscal and functional powers to flow to urban local bodies and panchayats. “States often stop at themselves—they hesitate to delegate to urban councils and panchayats,” he said.
Disclaimer: This image is taken from Priyanka Parashar.
Tata Consultancy Services is actively encouraging its employees to adopt artificial intelligence (AI) tools to deliver work faster, more efficiently, and at lower costs, even if it temporarily impacts the company’s revenue, CEO K Krithivasan said on Wednesday. Speaking at the Nasscom Technology and Leadership Forum in Mumbai, Krithivasan highlighted that employees should inform clients whenever AI can improve performance, regardless of any potential revenue cannibalization.
He emphasized that TCS views AI as an opportunity to enhance productivity and create new value rather than as a threat to jobs. “We are not afraid this technology will take away our livelihood. The more you embrace it, the more benefits you will enjoy,” Krithivasan said, urging employees to welcome the changes AI brings. TCS’ approach mirrors that of its smaller rival Wipro. Hari Shetty, Wipro’s Chief Strategist and Technology Officer, has also projected that AI adoption will expand demand for software services and create more jobs than it displaces.
The comments come amid investor concerns over AI’s potential disruption to India’s traditionally labor-intensive IT sector. In February alone, these worries have erased roughly $68.6 billion in market value, with the Nifty IT index falling 21% as of Tuesday, putting it on track for its worst monthly performance in nearly 23 years. Despite these market jitters, TCS is pushing forward with its AI-driven strategy, positioning itself to leverage technology for efficiency, innovation, and long-term growth in the evolving IT landscape.
Disclaimer: This image is taken from Reuters.
NCP (Sharadchandra Pawar) MLA Rohit Pawar visited Marine Drive police station in Mumbai on Wednesday to file an FIR regarding the fatal plane crash that killed Ajit Pawar. He alleged that senior police officials refused to register the FIR despite initial steps being taken by junior officers. Rohit Pawar explained that a junior officer and the Senior Police Inspector were initially cooperative, even beginning to print the FIR after discussion. However, a higher-ranking officer, the Additional DCP, intervened and refused to register it. He emphasized that under current law, any FIR for a cognizable offence must be registered, and filing it is a citizen’s right.
Before visiting the station, Pawar stated that FIRs were intended against multiple parties: VSR’s associates, DGCA officials involved, the company ARROW that approved the flight, and ARROW officials linked to the state government. A fifth FIR will remain unnamed, as the case is being treated as a potential criminal conspiracy.
He also alleged links between VSR’s company and Union Aviation Minister Ram Mohan Naidu, claiming that these connections, along with ties between BJP leaders and VSR, have prevented direct action against VSR. Pawar added that since Ajit Pawar’s death, it remains unclear whether the crash was accidental or deliberate, which requires investigation.
Regarding the DGCA report released on January 28, Rohit Pawar said it technically gave VSR a clean chit. He reiterated his party’s demand for the Aviation Minister’s resignation, stating that recent clarifications were driven by public and media pressure, but only revealed part of the larger issue.
The Directorate General of Civil Aviation has ordered a special safety audit of M/s VSR Ventures Pvt Ltd following the Learjet 45 (VT-SSK) crash at Baramati on January 28, which claimed five lives, including 66-year-old Ajit Pawar. Pawar, along with his personal security officer, a flight attendant, and two pilots, died when the aircraft crash-landed near the runway while attempting to land. He had been traveling from Mumbai to Baramati to campaign for the Zilla Panchayat elections.
Disclaimer: This image is taken from ANI.
Jerusalem streets on Wednesday buzzed with excitement as tricolours adorned shopfronts, community leaders organised welcome events, and Hindi conversations filled neighbourhoods with a strong Indian presence ahead of Narendra Modi’s two-day state visit to Israel. For the Indian diaspora, the visit feels both historic and personal. Many see it as more than a diplomatic trip, reflecting the remarkable growth of India-Israel relations since Narendra Modi first visited in 2017, becoming the first Indian Prime Minister to do so.
Laxmi Narayana, who moved from Hyderabad to Israel for work, said, “We are very happy. A warm welcome to our Narendra Modiji. This being his second visit feels special.” He also highlighted the camaraderie between Narendra Modi and Benjamin Netanyahu, expressing hopes for stronger India-Israel ties.
Thousands of Indian workers across Israel—in construction, agriculture, and hospitality—have benefited from the growing partnership. Banala Gangadhar, President of the Israel Telangana Association, called the visit “long-awaited” and said it will further strengthen the bond between the two nations, creating opportunities for more Indians to work in Israel.
Srinivas, a resident of Israel for five years, described the day as “auspicious,” noting that the promises from Modi’s first visit have been realised with thousands of Indians now employed across various sectors. Prakash and Paska Sudhakar, both from Hyderabad, echoed the sentiment, highlighting the respect and warmth Israeli people show toward Indians and expressing hope that the visit will deepen bilateral relations.
Beyond diplomacy, the visit carries emotional significance for the diaspora, symbolizing recognition, connection, and shared futures. As India and Israel continue to collaborate in defence, technology, agriculture, and innovation, the relationship resonates on both professional and personal levels for expatriates. During the visit from February 25–26, Narendra Modi will meet with Netanyahu","israeli prime minister"], Israeli President Isaac Herzog, and address the Knesset, becoming the first Indian Prime Minister to do so. He will also engage with the Indian community in Israel.
Disclaimer: This image is taken from ANI.
Prime Minister Narendra Modi arrived in Tel Aviv on Wednesday for a two-day state visit to Israel at the invitation of Prime Minister Benjamin Netanyahu, aiming to strengthen the “robust and multifaceted Strategic Partnership” between the two nations. Modi was received with a Guard of Honour at Ben Gurion Airport, where he shared a warm embrace with Netanyahu. During the visit, he is scheduled to meet President Isaac Herzog and become the first Indian Prime Minister to address the Knesset. Modi also plans to engage with the Indian diaspora, highlighting their role in strengthening bilateral ties. Ahead of his arrival, Herzog expressed his eagerness to welcome the Prime Minister, underlining the close relationship between India and Israel.
Disclaimer: This image is taken from Reuters.
Under President Lee Jae Myung’s guidance, investor confidence in South Korea has surged, fueled by ambitious reforms—from proposed corporate governance improvements and regulatory adjustments to efforts aimed at revitalizing the stock market. His pro-market policies have shifted sentiment positively, attracting both domestic and international investors and pushing the Kospi to new highs. But is this surge sustainable, or merely a short-term spike? Hairianto Diman and Elakeyaa Selvaraji explore the outlook with Betty Wang, Head of Northeast Asia Research at Oxford Economics.
Disclaimer: This podcast is taken from CNA.
On Saturday, President Donald Trump increased the US global import tariff to 15%, following the Supreme Court’s ruling that invalidated much of his previous tariff program. Trump described the new 15% rate as “fully allowed and legally tested,” replacing the earlier 10% plan, and said it would be temporary under current trade law for 150 days. Questions remain about how enforceable this measure is and what will happen once the 150-day period ends. Andrea Heng and Hairianto Diman discuss the implications with Angela Mancini, Partner and Head of the Global Risk Analysis Practice for Asia Pacific at Control Risks.
Disclaimer: This podcast is taken from CNA.
In his first remarks following the arrest of Andrew Mountbatten-Windsor, Prime Minister Anthony Albanese described the former prince’s situation as an extraordinary fall from grace. Although Albanese supports a republican Australia, he stated that this scandal would not trigger another referendum. Speaking with Guardian Australia’s political editor Tom McIlroy, the PM also criticized Pauline Hanson’s remarks about Muslim Australians and addressed the potential return of the 34 wives and children of Australian Islamic State fighters currently in Syria.
Disclaimer: This podcast is taken from The Guardian.
A group of 34 Australian women and children, who were held by the Islamic State for years without facing charges, have been sent back to a detention camp after trying to escape Syria and return home. Reged Ahmad talks with senior reporter and former foreign correspondent Ben Doherty about the heated discussion surrounding their repatriation and the implications for Australian citizenship.
Disclaimer: This podcast is taken from The Guardian.
