India poised for quantum GDP growth by 2030: NALCO CMD

Bhubaneswar: India is set to emerge as the third largest economy of the world with a quantum jump in its GDP by 2030, CMD of aluminium major NALCO, Tapan Kumar Chand has said.

"India is fast emerging as the youngest nation in the world with more than 65 per cent of its population in the working group," Chand said.

If the demographic dividend is properly cultivated, then the Gross Domestic Product (GDP) growth will be in double digit with a quantum jump, the NALCO CMD said.

He was addressing a meeting of Chartered Accountants (CA) from across the country yesterday during the National CA Conference, organised by Professional Development Committee, Institute of Chartered Accountants of India (ICAI) here.

Describing CAs aa the architects of the country's financial system, Chand said "More competent this professional community becomes, stronger will be our financial system".

The key to such rapid progress is generation of large scale employment and this employment in this phase of growth of the country will come in the Micro, Small and Medium Enterprises (MSME) sector. He said NALCO has taken steps to set up aluminium park at Angul in Odisha which will work on a cashless model.

Under it, NALCO will provide raw material and purchase finished products from the MSMEs making them viable in the long term, he said.

The programme was inaugurated by Odisha Governor Prof Ganeshi Lal called upon the Chartered Accountants to work diligently towards the development of India, by ensuring a strong financial eco-system.