India 2047: Aspirations and Architects

Authored by: Charu Kaushal, CEO, Allianz Partners India

As we look ahead at India in the year 2047, we are filled with optimism, envisioning a Viksit Bharat (Developed India) with a population of 1.65 billion and a $30 trillion developed economy, ranking among the top 10 countries on the World Happiness Index. A nation transformed by strategic policies and innovative initiatives, aiming to be a global leader in sustainable development, ease of living and doing business, social welfare, and innovations.

We envisage India shining and becoming world’s largest services hub—a leader in manufacturing, innovation and technology across sectors, with a vibrant startup ecosystem. We think of it as a nation where economic development has been inclusive, the youth is skilled, and the demographic dividend is leveraged for economic growth and prosperity. We will continue to lead and make strides in tech-enabled development, with our energy transition towards renewables firmly on track, as we lead climate action to prioritise sustainability and environmental protection.

We think India’s insurance penetration will in double digit and in line with the vision of the Insurance Regulatory and Development Authority of India (IRDAI) to have insurance for all by 2047. That’s why, we at Allianz Partners are committed to contributing significantly to this vision as the embedded assistance and speciality retail insurance division of Allianz Group. Our innovative products and digital solutions are designed to provide peace of mind to clients and customers across assistance and mobility , travel , health , easy living , mobile protection and cyber risk. We are also embracing digital platforms in order to enrich the customer experience and providing a comprehensive and seamless digital journey .

Future of Mobility and Roadside Assistance in India

The future of mobility in India is something that will be characterised by increased connectivity, automation, electrification, and shared mobility. We recognise that the rise of electric vehicles (EV), autonomous vehicles (AVs), and mobility-as-a-service (MaaS) platforms will redefine transportation systems and brands that are at the forefront of supporting this future ecosystem with pioneering initiatives will be the true Changemakers. For instance, we are developing a shared mobility platform that integrates multiple transport options into a single digital interface, aiming to increase shared mobility and reduce carbon emissions.

Our commitment to India’s insurance industry vision for 2047 is further strengthened as we became the first foreign reinsurer with the opening of our office at the International Financial Services Center (IFSC) GIFT City, Gandhinagar, in April 2024. This will enable us to contribute actively towards making GIFT city a resinsurance hub

Our aspirations for the country are built on innovative policies, advanced mobility solutions, comprehensive insurance offerings, and a commitment to sustainability. Together with the architects of tomorrow, we will create a future where every Indian enjoys security, prosperity, and a high quality of life. 

On this journey to Viksit Bharat by 2047, we believe happiness must be the central pursuit. Development will remain a dream if we fail to imagine how to rise in the happiness index; because without happiness, development has no meaning.