India, Sept. 3 -- India has entered a very different phase of its economic journey. Over the past three decades, economic reforms, entrepreneurship and rising investment have transformed the country into one of the world's fastest-growing major economies. The ambition now is even greater. To become a developed nation by 2047, India will need to sustain real GDP growth of around 8% a year for the next two decades-the benchmark set out in the Economic Survey 2024-25-a pace that very few large economies have managed over such an extended period.

The foundations for that growth are already being laid. India is investing at unprecedented scale in expressways, airports, freight corridors, metro systems, ports, digital infrastructure and manufa...