Viksit Bharat By 2047? WTO Says India Must Fix These Gaps First

Can India become a developed nation by 2047? The World Trade Organization (WTO) believes the goal is achievable but only if the country fixes a few fundamental problems that can no longer be ignored.In its latest Trade Policy Review, the WTO has offered both praise and caution. It acknowledged India's position as the fastest-growing major economy. But it also warned that strong growth alone will not be enough to fulfil the government's Viksit Bharat vision.The global trade body said India must address deep-rooted structural bottlenecks, lower trade costs, simplify regulations, improve infrastructure and integrate more closely with global markets if it wants to achieve developed-country status by the centenary of Independence in 2047. WTO's 'Non-Negotiables' For Viksit BharatAccording to the WTO Secretariat, India will have to sustain annual real GDP growth of around 8 per cent over the next two decades to reach high-income economy status by 2047. That, however, will require more than economic momentum.The report identifies several areas where reforms are essential:High trade costs that make Indian goods less competitive.Complex regulations that increase compliance burdens.Infrastructure gaps affecting logistics and supply chains.Limited integration with global value chains and international trade networks.The WTO said these issues could become major roadblocks unless addressed through sustained policy reforms. Exports Will Play A Decisive RoleIndia has set an ambitious target to raise its share of global merchandise exports from about 1.8 per cent in 2024 to nearly 10 per cent by 2047.The WTO said achieving that target will depend on how successfully India balances its push for self-reliance with greater openness to global trade.According to the report, India's engagement with the multilateral trading system and its ability to diversify exports will be key factors determining long-term growth and economic resilience. India Says Market Access Is Equally ImportantWhile the WTO Secretariat focused on reforms within India, New Delhi used its own report to underline challenges originating outside the country.The government said that as India pursues the Viksit Bharat vision amid digital, green and demographic transitions, unimpeded access to global markets, critical minerals and advanced technologies is a "non-negotiable imperative." It also reiterated support for a fair and rules-based multilateral trading system. WTO Urges Fewer Trade RestrictionsThe discussion did not stop there.In a parallel assessment during India's Trade Policy Review, the WTO Secretariat urged India to rely less on trade-restrictive measures and continue improving its business environment. It said such reforms would strengthen competitiveness, attract investment and make Indian businesses more integrated with global supply chains. India, however, argued that the conversation cannot be one-sided.Government officials pointed to the growing use of non-tariff barriers by several countries, saying these measures increasingly limit market access for developing economies even when import duties are low. India maintained that removing such barriers is equally important for ensuring fair global trade. Tariffs Remain Under ScrutinyThe WTO also noted that India's average applied Most Favoured Nation (MFN) tariff rate has increased compared with the previous review, although basic customs duties have moderated in recent years.Agricultural products continue to attract significantly higher tariffs than non-agricultural goods, with products such as tea, sugar and beverages facing some of the highest import duties.