Ashok Kumar Lahiri urges India to fix land acquisition process
NITI Aayog's vice chairman, Ashok Kumar Lahiri, said India needs to fix its land acquisition process if it wants more investment and faster industrial growth.
At the India Policy Forum 2026, he pointed out that slowdowns from legal and procedural hurdles are holding back big projects and making it tough for businesses to grow.
Domestic savings crucial for India
Lahiri also emphasized that boosting domestic savings is key; without enough savings, even a better business climate won't be enough for real growth.
He shared that if India wants to become a developed nation by 2047 (with per capita income jumping from $2,813 to $18,000), the country will need steady investment and strong public infrastructure.
He suggested the government is trying to promote entrepreneurship, invention, and innovation through various schemes such as the Production-Linked Incentive (PLI) from 2020 and the Atal Innovation Mission (AIM) from 2016.