“Everyone should work hard to make India a developed country in 2020”
- Dr. A.P.J. Abdul Kalam

This statement has been made by our beloved President and it has to be achieved only by the way of dedication in each and every level. India, has been a powerful source among the world community as per the recent trend, but getting recognition in all facets is not easy. There are various challenges and opportunities prevailing in and around to go forward and simultaneously the threat is also mounting. In what category we differ from others and how to solve this issue and emerge as a superior power in the forthcoming years has to be clearly analyzed.

India to grow 40 times by 2050, but changes must, says Goldman Sachs
A recent report titled “Ten Things for India to Achieve its 2050 Potential”, released by Goldman Sachs, has indicated that India could be 40 times bigger by year 2050. It also mentions that India needs to implement many changes to fulfill its vision.
Goldman Sachs has outlined 10 crucial steps that India must take in order to achieve its full potential. The firm’s latest annual update to its Growth Environment Scores (GES), India scores below other three Bric nations, and is currently ranked 110 out of a set of 181 countries assigned GES scores . To improve further the macro variables within the GES framework, the report indicates the need to liberalise the Indian financial markets.
The report indicates that India needs to improve its governance, control inflation, introduce credible fiscal policy, liberalise financial markets and increase trade with its neighbours. It also needs both to significantly raise its basic educational standards, and increase the quality and quantity of its universities. The country needs to boost agricultural productivity, improve its infrastructure and environmental quality.
Delivery of all these would ensure strong, persistent, medium to long term growth, allowing India to reach its amazing potential. If India were able to undertake the necessary reforms, it could raise its growth potential by as much as 2.8% per annum.
Highlighting the issue of inflation, the report indicates that although India has not suffered from dramatic inflation, it is currently experiencing a rise in inflation similar to that seen in a number of emerging economies. Targeting low and stable inflation is not easy if country’s fiscal policy is poorly maintained.
The study also reveals that in terms of international trade, India continues to be much less open than many of its other large emerging nation colleagues, especially China. Given the significant number of nations with large population on its borders, India should target a major increase in trade with China, Pakistan and Bangladesh. It further states that agriculture, especially in the era of rising prices, should be a great opportunity for India. Better specific and defined plans for increasing productivity in agriculture are essential, and could allow India to benefit from the BRIC-related global thirst for better quality food.
On the issue of increasing quality of education in the country, the Goldman Sachs report says India should also have a more defined plan to raise number and also the quality of its top class universities.