The PwC India report noted MSMEs ecosystem creation will be important for employment in the revival and growth phase

India can reach a growth rate of 9 percent over the next three years if friction exposed by the Covid-19 crisis is removed and key activities are fast tracked, said a report by The Financial Express.

“If we can increase our average growth rate to 9% from the pre-Covid-19 five-year average of 6.8%, and by deepening and widening our economy make the growth more inclusive, we can create three additional Indias with a cumulative additional GDP of $10 trillion, in a decade post-recovery,” PwC’s ‘Full Potential Revival & Growth – Charting India’s medium-term journey’ was quoted in the report.

The PwC report is based on interviews with business, public sector and citizen leaders, sectoral analysis, and a country-wide survey. It analyzes nine key sectors that makeup 75 percent of the pre-pandemic GDP and MSME segment, said the report.

The report further suggested that investing in physical infrastructure in the semi-urban and rural centers will give a boost to the economy and create widespread employment. It pointed out that activating the National Infrastructure Pipeline project is critical for building infrastructure in the next five years as per the Financial Express report.

The PwC report noted that the focus should be shifted on to improving digital infrastructure in smaller towns and districts as per the report.

It further noted that MSMEs' ecosystem creation will be important for employment in the revival and growth phase given their employment-generating potential.

The Financial Express report quoted Shashank Tripathi, government strategy, PwC India as saying that increasing the flow of data and convergence between sectors and across institutions will be key.

Read the full report in The Financial Express