KPMG outlines 10 priorities for India to be developed nation by 2047

India must shift from growth based on scale to productivity-driven development to achieve its Viksit Bharat 2047 vision of becoming a developed nation, according to a new report by KPMG in India unveiled at the ET NOW Global Business Summit in New Delhi.

The report, titled 'Top 10 Priorities for India's Next Growth Phase', was launched on February 13 with KPMG India CEO Yezdi Nagporewalla, Nilachal Mishra, Partner and Head of Government and Public Services at KPMG India, and Sir Martin Sorrell among the attendees.

Rather than proposing new policies, the document consolidates ongoing reforms into a coherent execution framework aligned with the nation's centenary goals

Blueprint for transformation

The report sets ambitious targets: equipping 50 percent of the workforce with formal skills, training 10 million youth in advanced technologies, increasing manufacturing's share of GDP to 25 percent from the current 17 percent, and reducing logistics costs below 8 percent of GDP.

The 10 priorities span workforce development, manufacturing expansion, MSME strengthening, next-generation infrastructure, trade integration, governance reform, sunrise sectors, social inclusion, public finance, and urbanization.

KPMG emphasized that India has completed its "foundation phase" of macroeconomic stability and digital infrastructure development, and must now convert capital investments into lasting productivity gains.

MSMEs, emerging sectors take centre-stage

Strengthening micro, small, and medium enterprises, which employ more than 110 million individuals and contribute nearly 30 percent to GDP, is identified as a vital strategy.

The report recommends improving credit access using GST digital data, upgrading cluster productivity, and creating integrated pathways for exports to help small businesses evolve into competitive mid-sized firms.

The document also highlights "sunrise sectors" including semiconductors, green hydrogen, defense manufacturing, and AI-driven digital infrastructure as areas where India can establish global leadership.

KPMG noted that cities must function as productive economic hubs, supported by transit-oriented planning and stronger local revenue generation.

"Viksit Bharat 2047 represents a vision of the type of nation India aspires to be -- prosperous, resilient, inclusive, and globally impactful. It is not a fixed goal, but an ongoing process of building, delivering, and refining," the report states.