Vision 2050 - India a Super Economic Power is something which every Indian is looking forward to. Today India is still a country which, in the eyes of the World, is an emerging economy. Alongwith the dragon, the elephant is learning to dance and move ahead from the erstwhile Hindu growth rate of three to four per cent to the newly acquired speed of eight to nine per cent. The Finance Minister in his budget speech of 28.02.07 says : “There are many pluses and a few minuses and I shall deal with both candidly. The biggest plus is that the growth rate of GDP has improved from 7.5 per cent in 2004-2005 to 9 per cent (Quick Estimate) in
2005-2006 and, according to Advance Estimate, to 9.2 per cent in 2006-2007. The average growth rate in the three years of the UPA Government is, therefore, 8.6 per cent.”

High expectation or optimism is always the basis of future development. The assumption is that all other parameters in the economy, namely consumption, savings, investment, national income, production, employment, external account alongwith internal monetary and price stability, will operate in harmonious combination to produce a salubrious, speedy, growth of ten per cent, year on year basis, over the next 40 odd years to reach destination 2050 India as a Super Economic Power. Self sustained, secular, growth process is a desirable dream. If the dream can be converted into a reality it is a great and well deserved achievement. The sustained process of development will help India to go ahead of Japan by 2023 and eventually China and US by 2050. The 'Vision' is fine. However, it has to be accepted as a Mission. The Vision then becomes a 'Mission' with a deadline. If India has to reach destination 2050 it has to grow continuously, unfettered and undisturbed, at a high rate. Other countries in the race viz Japan, China and US will also grow. The incremental contributions of India should outweigh the growth rates of the said three countries if vision 2050 is to be accomplished. However, economic development is conditioned and constrained by several other factors. The underlying, ceteri paribus, assumption may not hold water. There are several constraints which will emerge on account of ecological imbalances, demographic profile, acts of God, changing weather conditions like global warming, civil disturbances at home and in neighbouring countries, moods of pessimism in business and its impact on different markets including stock markets. These constraints are illustrative rather than exhaustive.

The demographic profile of 2040 may see India as a geriatric ward of the World with its own adverse impact on productivity and a then affluent India giving away doles to senior citizens, old age homes and outlays on pension funds. Global warming may affect agricultural produce in India and many other countries all over the World, rather adversely. Mass migration to cities may add to the woes of congested metropolis of the country. Natural disasters will have their own derailing toll on the development process. Similarly, outbursts of civil disturbances in India or near and far countries and strained relationship with countries, particularly neighbours, may create imbalances social, economic and political. Business moods may move in either direction. If there is a downturn, revival may pose serious problems apart from derailing the sustained development process. While optimism and bullish sentiments are required to initiate ourselves into new horizons and great adventures, the cherished dream to reach destination 2050 as a Super Power is a long distance to be travelled by driving on roads which may not be smooth and are in fact beset with difficulties which have to be overcome through CAUTION, CIRCUMSPECTION and CONFIDENCE. Hence, the adverse aspects, cited above, also need to be factored to yield a pragmatic, purposeful and positive approach to the desired, distant, dream visualised for 2050.

The Seminar will address various issues concerning vision 2050 and chart out the possible approaches to make our dream a fulfillment, a reality and an event which will arrive to stay with us for long, preferably forever, nay ad infinitum. India would then have regained its historic pride
of being the World's largest economy for various tenures prior to the dawn of the British rule in undivided India. We hope that Vision 2050 materialises and Indians will hold the global fort and India will rule the world waves.