India should not become sicker before it becomes richer: Chief Economic Adviser

India's Chief Economic Adviser emphasizes the importance of a healthy population for India's development and addresses concerns about health issues and economic growth.

India’s Chief Economic Adviser V. Anantha Nageswaran said a healthy population is the fundamental requirement in the push towards the country becoming a developed country by 2047.

“It used to be said of China, that it may become older before it becomes richer. It should not be the case that India becomes sicker before it becomes richer,” he said in his inaugural address at the Madras Management Association’s annual convention 2024 with the theme – India@2047-Leapfrogging to the Future.

“We all saw how our relatively unhealthy population became more vulnerable to the impact of COVID. And today when I see multinationals speak of India as the next frontier for processed food, It makes me worry,” Mr. Nageswaran said.

“You see sports personalities promote and become ambassadors of unhealthy foods. And if you look at data on child obesity, child diabetes is alarming as far as India is concerned,” he pointed out. A physically fit and mentally healthy population is required. Consumption of social media is antithetical to a mentally healthy population. The health aspect is a responsibility of businesses and individuals, he added.

He said by the end of March 2024, India’s economy would have grown over 7%, which makes it three consecutive years of 7% growth post COVID.

The Reserve Bank of India estimates that for the year ending March 2025, India would be growing at 7%, which would make it the fourth consecutive year, Mr. Nageswaran said.

India is on track and well placed for 2047. “While we need to be optimistic and confident and have pride in our abilities in our endowments, realistic assessments of the challenges, realistic assessments of our prospects and the awareness and consciousness about our own cognitive limitations are required,” he said.