Indian Inclusive Growth: Strategies and Challenges

India's economy has grown at an impressive pace over the last two decades as a result of wide-ranging structural reforms to open up the economy and make it more competitive. Inclusive growth is necessary for sustainable development and equitable distribution of wealth and prosperity.

The Government of India has implemented policies for the achievement of a new vision of growth that will be much more broad based and inclusive. The Government emphasized rapid growth of the economy as this is an essential requirement for poverty and an expansion in economic opportunities for all sections of population. However, to build an inclusive India has had a limited success and achieving inclusive growth is the biggest challenge in a country like India. This paper identifies the elements and dimensions of inclusive growth, discusses different strategies and highlights keys challengesfor achieving inclusive growth in India. This study shows that the drivers of economic growth in India are poverty reduction, agricultural growth, enhancement of education opportunities, good health and nutrition, industrial and manufacturing growth, infrastructure development, gender equality and children rights, environmental sustainability, science and technology, good governance, social justice and employment. The study shows also that low employment growth, low level of education and skills development, gender and social inequalities, rural and urban disparities, climate change, financial sector problems and poor economic infrastructure arethe major challenges for Indian inclusive growth. Rapid growth of the economy is an essential requirement to achieve this outcome since it is an instrument for achieving a steady increase in employment and incomes for large numbers of the people. The government of India and private sectors can play complementary roles in driving inclusive growthto ensure equality of opportunity for all.