India needs 7-8% growth for Viksit Bharat, pvt investment and export push crucial: EAC-PM

India requires a sustained economic growth rate of 7% to 8% to achieve its goal of becoming "Viksit Bharat" by 2047, a target that hinges heavily on a revival in private sector investments and robust export growth.  

Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), speaking to the media on the sidelines of the FICCI India Innovative Crop Nutrition Conclave 2026, stated that structural reforms implemented over the last few years laid the groundwork for this trajectory. 

"We need 7% to 8% growth for Viksit Bharat, and we need investment for that. So, private sector investment is equally important, and export growth is also important. The Prime Minister has mentioned Atmanirbhar Bharat. That is equally important," Dev said. 

He emphasised that the domestic market must enhance both its competitiveness and product quality to meet global standards. 

Addressing the strategy behind the self-reliant India initiative, Dev clarified that the policy framework does not signal a retreat from global trade. Instead, the focus remains on building domestic capability to leverage the country's current demographic and technological advantages.