Economic growth needs to be sustainable and inclusive: B.H. Nagoor

Economist and professor B.H. Nagoor on Sunday (August 30, 2026) said that India’s economic challenge is no longer just about achieving high growth, but making that growth sustainable, productive and inclusive.

The Senior Professor of Economics and Director at UGC Malaviya Mission-Teacher Training Centre was delivering the Prof. C.B. Tigadi Memorial Lecture on “Indian Economy: Journey So Far and Road Ahead”, organised by the Department of Management under Karnatak University, Dharwad.

“India has transformed dramatically since Independence—from an agrarian, low-income and tightly regulated economy into one of the world’s major and fastest-growing economies. But some challenges remain. They are to make the growth inclusive, sustainable and productive,’’ Mr. Nagoor said.

Detailing key milestones in India’s economic reforms, he said: “The economic reforms of 1991 are a turning point. The process of opening the economy to liberalisation, private investment, competition, foreign capital and global markets. The other key milestones include the Green Revolution, public-sector expansion, IT boom, globalisation and digital transformation.”

Citing the latest national accounts estimates, the economist said real GDP growth reached 7.6% in FY 2025-26, alongside significant gains in infrastructure, financial inclusion, digital payments, exports, poverty reduction and entrepreneurship. “But sustaining this momentum will require India to tackle job creation, low productivity and unequal access to prosperity. A sharper focus on manufacturing, agricultural modernisation, human capital, entrepreneurship, research and innovation, is required at all levels,’’ he said.

“Artificial Intelligence would bring both opportunities and disruptions. However, management students and young professionals need to keep upgrading their skills. India’s goal of becoming a developed economy by 2047 would depend not only on government policies but also on the innovation, entrepreneurship, productivity and leadership of its citizens and professionals,’’ Mr. Nagoor said.

Mukund Dixit, former professor at IIM Ahmedabad, presided over the programme and stressed the need to attract more foreign investment and foster entrepreneurship to accelerate growth and create jobs in India.