Page 25 - Shelter, October 2024
P. 25
THEME PAPER
urban population, there is a
need for urban transformation
through appropriate economic
and transit planning, and
orderly development of peri-
urban areas utilizing town
planning schemes. This is
where the youth, through
their harmonious blend of
collaboration, innovation,
and digital integration, could
play crucial roles in not only
creating more job and income
generation opportunities but
Figure 4: Projected Income Group Composition in India also enabling sustainable
Source: Peoples Research on India’s Consumer Economy (PRICE), 2023 growth, social progress,
and effective urban
in achieving the nation’s nine priority action areas, transformation. The ideas
ambitious target to become as outlined by the Govt. of and strategies of the youth
a US$ 30 trillion economy by India, it is imperative that will undoubtedly propel the
2047. As India experiences the potentials of youth be nation towards achieving
demographic shift, along with harnessed, especially in the the vision of Viksit Bharat by
changing social dynamics following key areas: 2047.
and technological advances,
the youth population will Urban Transformation: Sustainable Housing
contribute significantly Swami Vivekananda believed and Infrastructure
in realising the country’s that the latent power within Development:
economic potential with the youth, if harnessed and India stands at the cusp of
their creativity, innovation, directed towards noble ideals, a transformative era, with
and resilience. India is could bring about a profound housing and infrastructure
experiencing a demographic transformation in society. development serving
window of opportunity, a Young India’s creativity as the cornerstone of its
“youth bulge”. To harness and potential for innovation journey towards becoming
this immense potential, it is coupled with supportive a developed nation by 2047.
imperative to channel their government policies like This ambitious vision isn’t
energy towards constructive Digital India, Make in India just about constructing
avenues and provide them and Start-up India are buildings and roads; it’s
with the necessary tools and enabling youth to become about laying the foundation
platforms for self-expression. job creators. India is home to for economic prosperity,
If supported by investments over 100 Unicorns with a total enhanced connectivity, and
in their participation and valuation upwards of US$ 340 improved living conditions
leadership, young people billion and has emerged as for millions. It is projected that
can transform the social and the world’s 3rd largest startup contribution of the real estate
economic fortunes of the ecosystem. Cities and urban sector to GDP will increase
country. To achieve the vision areas are the growth hubs from the present 7.3% to 15.5%
of Viksit Bharat through and in view of the burgeoning in 2047 (NAREDCO-Knight
October, 2024, Volume 25. No.1 - SHELTER 23
