Build ecosystems for high-growth trajectory: Arvind Panagariya, NITI Aayog

NITI Aayog Vice-Chairman Arvind Panagariya today called for building ecosystems to take India on a high-growth trajectory to create wealth and eliminate poverty.

Delivering the 31st Sardar Vallabhbhai Patel Memorial Lecture at Hyderabad, he talked about the importance of growth as the key instrument in elimination of poverty.

Panagariya, who addressed a combined session of 109 IPS Probationers of 68 RR and 15 foreign Probationers currently undergoing basic training at the Sardar Vallabhbhai Patel National Police Academy, drew comparisons of growth of "miracle economies" vis-à-vis India and the way poverty has been lowered over a period of time and thus provided a new insight into the countrys approach towards attaining rapid growth through employment generation instead of just redistribution of wealth.

Speaking on the topic 'Why growth matters and what must be done to sustain it', he stressed on the need for sustainable growth of Indian economy and importance of capturing global markets and work towards attaining the ecosystems that propel the country into a sustainable high-growth trajectory curve and thus create wealth.

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Earlier, he paid respects at the Martyrs Memorial by laying a wreath, the statement added. "The liberalisation and foreign investment as the few key policies changed the growth dynamics of Indian economy," an Academy statement quoted him as saying.