Developed India @ 2047: Capital Creation and Economic Transformation by Mutual Fund Industry in India

Abstract

Developed India 2047” means “Viksit Bharat by 2047” represents the government’s vision to transform India into developed nation. It refers to a vision or goal for our country India to achieve developed nation status by the year 2047 which coincides with the hundredth anniversary of our country’s independence. Such vision often includes economic growth, social progress, environmental sustainability, good governance, technological advancement, socio-economic development and overall progress across various sectors to elevate the standards of living of people living in the country and ensure comprehensive growth. To achieve this vision, the focus should be on sections such as entrepreneurship development, promotion to mutual funds for creating capital formation, e-commerce platforms, value chain improvement, innovation technologies and a Climate-Smart environment friendly approach. Implementing these strategies can not only boost Indian economy and sustainability but also contribute significantly to India's journey towards becoming a developed nation by 2047. In this process Mutual Fund can play crucial role and this is the focus point of this paper. This paper studies the role of mutual fund how to contribute in completion of the objectives of Developed India 2047 vision by creation of capital for companies and economic transformation.

Key words: Viksit Vharat 2047, mutual funds, economic development, developed country, Economic