3 weeks ago
NITI Aayog vice-chairman urges easing land acquisition to attract investments
A very important person in India's government, Mr. Ashok Kumar Lahiri, gave a speech about how India can grow richer.
He said that when companies want to build factories, it is too hard to buy the land they need.
He thinks the rules for getting land should be made easier so more businesses will come to India.
He also said that saving money inside the country is the main way to pay for new factories and projects.
Money from other countries, called foreign investment, also helps, but India does not get as much as China or Singapore.
He told a story about how the government's spending on roads and other projects now helps private companies invest more money.
He also talked about government programs that support new ideas, like the Production Linked Incentive and the Atal Innovation Mission.
He spoke about India's dream of becoming a developed country by the year 2047.
To do that, every Indian person needs to earn a lot more money, so the country's income must grow very fast for 21 years.
He wants India to be the best place in the world for businesses to make a profit.
NITI Aayog Vice Chairman Ashok Kumar Lahiri said India must ease land acquisition for industries to attract more investment, citing legal challenges and factor market imperfections.
Speaking at the NCAER India Policy Forum 2026 in New Delhi, he said much has been done for ease of doing business, but more remains to be done at the grassroots level.
He said NCAER research shows public investment, which crowded out private investment before 1980, now 'crowds in' private investment, so well-targeted infrastructure spending can unlock it.
Gross FDI stood at USD 95 billion in 2025-26, while net FDI is showing signs of revival with USD 7.4 billion inflows in April 2026, up from USD 1.6 billion a year earlier.
Lahiri estimated India's per capita income of USD 2,813 in 2026 must grow at an average nominal rate of 9.25 per cent for 21 years to reach USD 18,000 by 2047.
- Who
- Ashok Kumar Lahiri, Vice Chairman of NITI Aayog
- What
- Urged easing land acquisition and improving factor markets to attract investment, and outlined FDI flows and per capita income growth targets
- Where
- New Delhi, India
- When
- Thursday, at the NCAER India Policy Forum 2026
- Why
- To remove obstacles to investment and achieve India's goal of becoming a developed country (Viksit Bharat) by 2047
Key facts
- Speaker
- Ashok Kumar Lahiri
- Role
- Vice Chairman, NITI Aayog
- Event
- NCAER India Policy Forum 2026
- Gross FDI inflows 2025-26
- USD 95 billion
- Net FDI inflows April 2026
- USD 7.4 billion (vs USD 1.6 billion in April 2025)
- India per capita income 2026
- USD 2,813
- Per capita income target by 2047
- USD 18,000-20,000
- Required annual nominal growth
- 9.25 per cent for 21 years
Quotes
Ashok Kumar Lahiri
Vice Chairman of NITI Aayog
“"Land acquisition for not only industrial projects but even government-sponsored infrastructure projects suffers several impediments, including legal challenges,"”
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“"So, let us make India the most attractive location for running a successful business and making profit,"”
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