The Competitiveness Roadmap for India@100 was released by the Economic Advisory Council to the Prime Minister (EAC-PM).
- The roadmap, which is a part of the India Competitiveness Initiative, is a collaborative endeavour between the EAC-PM and The Institute for Competitiveness and is developed by Dr Amit Kapoor, Chair, Institute for Competitiveness, Professor Michael E. Porter and Dr Christian Ketels of Harvard Business School.
- It envisions setting new guiding principles for the country’s growth journey over the following years and guiding different states, ministries and partners in India’s growth to develop sector-specific roadmaps for achieving targeted goals.
Key highlights –
- The Competitiveness roadmap for India@100 is based on the Competitiveness framework developed by Professor Michael E. Porter.
- The Competitiveness approach puts forth the idea of productivity as a driver of sustained prosperity. It emphasises the context that a nation is able to provide firms to be more productive and for individuals to be able to partake in the value generated through their productivity.
- Based on this approach, the India@100 roadmap guides the way for India to become a high-income country by 2047 through sector-specific and region-specific policies based on the ‘4 S’ principles.
- The ‘4 S’ guiding principles redefine our approach to attaining prosperity by stressing the need for prosperity growth to be matched by social progress, to be shared across all regions within India, to be environmentally sustainable, and to be solid in the face of external shocks.
- By capturing these four important aspects, the ‘4 S’ guiding principles pave the way for resilient and holistic development.
About Prime Minister’s Economic Advisory Council (EAC-PM) –
- PMEAC is a non-constitutional and non-statutory, non-permanent and independent body.
- It is constituted with the prime and sole aim to analyse all critical issues, economic or otherwise, referred to it by the Prime Minister and advising him thereon.
- It is mandated to give advice to the Prime Minister on economic matters such as inflation, GDP changes, export-import changes, creating supporting environment for increased trade and commerce.
- Functions –
- Submit periodic reports to PM related to macroeconomic developments and issues which will have implications of the economic policy.
- Analyse any topics, issues assigned by the PM and provide advice to them.
- Analyse macroeconomic issues having high importance and present the views to PM and any other task which is assigned by Prime Minister.
About ‘The Institute of Competitiveness’ –
- Institute for Competitiveness, India is the Indian knot in the global network of the Institute for Strategy and Competitiveness at Harvard Business School.
- Institute for Competitiveness, India is an international initiative centred in India, dedicated to enlarging and purposeful disseminating of the body of research and knowledge on competition and strategy, as pioneered over the last 25 years by Professor Michael Porter of the Institute for Strategy and Competitiveness at Harvard Business School.
- Institute for Competitiveness, India conducts & supports indigenous research; offers academic & executive courses; provides advisory services to the Corporate & the Governments and organises events.
- The institute studies competition and its implications for company strategy; the competitiveness of nations, regions & cities and thus generate guidelines for businesses and those in governance; and suggests & provides solutions for socio-economic problems.