Reform will be a key pillar that will propel fundamentals of India’s performance in the coming decades, Tata Sons chairman N. Chandrasekaran said on Friday.

While the country can look forward to becoming a $25-30 trillion economy in its 100th year of Independence, it is also crucial to spread the gains of the future to everyone, including informal workers, agricultural labourers and women, he said while addressing the annual convention of Ficci.

Chandrasekaran noted that the government has done several reforms before and after the pandemic which has set a strong foundation for a renewed vision for India in 2047.

“Looking at the next few decades, India presents a major growth opportunity. At the same time, it is important to remember the scope of reforms India has undertaken in the last few years,” he said.

Pre-pandemic, the government introduced GST, the Insolvency and Bankruptcy Code (IBC), an inflation targeting framework, a reduction in the corporate tax rate and also started addressing the banking sector balance sheets, Chandrasekaran added.

“The scope and scale of economic reforms have been really fast-paced, and this will drive productivity improvements and continued growth and capital accumulation. Reform is going to be a key pillar that will propel the fundamentals of India’s growth performance in the coming decades,” he asserted.