PM Modi Sets Vision for India to Become 3rd Largest Economy and a Developed Nation by 2047: Amit Shah

 Prime Minister Narendra Modi has set two ambitious goals for India: becoming the third-largest economy in the world and achieving the status of a fully developed nation by 2047, Union Home and Cooperation Minister Amit Shah said on Monday. He emphasized the vital role of the dairy sector in realizing these objectives, citing its impact on rural development, nutrition, and the upliftment of landless and small farmers.

Dairy Sector: A Key Pillar for Economic Growth

Speaking at a press conference, Shah highlighted the integral role of the dairy sector in India's growth story. "Our dairy sector accelerates the development of the country, but at the same time, it has a huge contribution in making the rural areas, landless farmers, and small farmers prosperous. It takes care of the nutrition of our country," he stated.

He further asserted that India's agricultural system is fundamentally based on small farmers, making the expansion of the dairy industry essential. "We have no other option except dairy. There are very few options, and I believe this seminar will be instrumental in adopting a holistic approach to explore all possibilities in the dairy sector," he added.

Boosting Cooperatives for National Prosperity

Shah outlined the government's commitment to empowering the cooperative sector, stating that significant progress has been made over the last decade. "The courage to move from village to global has grown, and new methods have been developed. The confidence to succeed as a group is rising through cooperatives, and the entire chain--from farm to factory--should remain within the rural landscape," he noted.

He elaborated on three core principles that have driven India's progress: "power from the government, cooperation from the government, and prosperity from the government." According to Shah, the concept of 'profit for people' can only be realized through cooperatives, which align financial success with societal well-being.

Circular Economy and Dairy Sector Initiatives

A guide on circularity in the dairy sector was released during the event, alongside the launch of NDDB’s financial assistance schemes for small biogas, large biogas, and compressed biogas projects. Shah urged the National Dairy Development Board (NDDB) and the National Bank for Agriculture and Rural Development (NABARD) to introduce pilot schemes in various districts within six months.

He also stressed the importance of gas production from dairy sector waste, suggesting that models for different regions should be examined and implemented across all 250 district milk-producing associations within two years. "No district with a milk producers' association should be without a gas production project involving local farmers. NDDB should arrange logistics, and NABARD should formulate a financing plan," he instructed.

Enhancing Animal Care and Dairy Infrastructure

Shah emphasized the need to integrate all aspects of dairy production, including high-quality seeds, superior fodder, and improved feed production, to increase milk productivity and strengthen cooperatives. He cited Gujarat's progress in these areas, calling for nationwide expansion of such initiatives.

He also highlighted the implementation of micro ATMs in rural dairies in Banaskantha and Panchmahal, which have increased cooperative sector deposits by approximately Rs 7,700 crores. "NABARD must take this model to every district union," he urged.

Strengthening Cooperative Banking and Manufacturing

Shah underscored the need for cooperative institutions to maintain financial autonomy. "We have introduced 'cooperation among cooperatives' in Gujarat, ensuring that all accounts are opened within the cooperative sector. Today, 93% of Gujarat's cooperative institutions hold accounts in cooperative banks, leading to automatic fund availability at lower interest rates," he said.

He also stressed the importance of manufacturing dairy-related machinery within India, advocating for self-reliance. "From fat-measuring machines to all dairy-related machinery, everything should be manufactured in India. NDDB must ensure that machinery production efforts involve all cooperatives, allowing district milk-producing unions to hold a share in these ventures," he said, adding that profits from such ventures should benefit the cooperative sector.

Conclusion

With PM Modi's vision of making India the third-largest economy and a developed nation by 2047, the government is focusing on key sectors like dairy and cooperatives to drive economic growth. Amit Shah’s remarks underscore the importance of self-reliance, rural prosperity, and cooperation as fundamental pillars of India's future development. The push for circular economy initiatives, cooperative banking reforms, and localized manufacturing further solidifies India’s roadmap to achieving these ambitious milestones.