Global Inequality and India's Vision 2030

Journal of Research and Development A Multidisciplinary International Level Referred and Double Blind Peer Reviewed, Open Access ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-11(I)| November 2025 101 Global Inequality and India’s Vision 2030 Dr. Parag A Inamdar Assistant Professor Adv. V. B. Deshpande College of Commerce (Night), Mulund w Manuscript ID: JRD -2025-171124 ISSN: 2230-9578 Volume 17 Issue 11 (I) Pp. 101-104 Nov. 2025 Submitted:15 Oct. 2025 Revised: 25 Oct. 2025 Accepted: 10 Nov. 2025 Published: 30 Nov. 2025 Abstract Income and wealth inequality in India has reached at alarming levels. This disparity hinders economic growth, social mobility and overall development. Despite progress in poverty reduction, India’s inequality crisis persists, exacerbating social and economic tensions. Highlighting this issue is crucial for understanding the root causes, consequences and potential solutions to this issue. A detailed analysis of India’s income and wealth distribution can inform policymakers, researchers, and stakeholders, enabling them to design targeted interventions and promote inclusive growth. This research is trying to highlight that inequality affects not only economic outcomes but also has far-reaching social and political implications. It ignites discontent, undermines trust in institutions and threatens social welfare. Keywords: Global Inequality, Income Inequality, Wealth Disparity, India’s Vision 2030, Sustainable Development, Economic Growth, Inclusive Growth, Poverty Reduction, Social Development, Digital India, Make in India. Introduction: India is aiming to become a major economic power by 2030, focusing on industrial growth, education, healthcare, and sustainable development. The government is promoting initiatives such as “Make in India” to boost manufacturing, “Digital India” to enhance internet access, and entrepreneurship programs to create jobs within the country. At the same time, India faces significant challenges, including widespread poverty, income inequality, and environmental issues. The top 1% of the population holds over 40% of the country’s wealth1, while many struggle to access necessities like clean water and sanitation. To address these issues, the government is working to improve access to financial services, education and health care services. They are also promoting renewable energy and reducing pollution. India’s success will depend on the effective implementation of policies, private sector engagement, and internal cooperation. If India can overcome its challenges, it definitely has the potential to become a major player on the global stage, driving economic growth and improving the lives of its citizens. With its large population and growing economy, India’s progress will have a significant impact on the world. The G20 Extraordinary Committee of Independent Experts on Global Inequality, led by Nobel laureate Joseph Stiglitz, has released a report highlighting the challenging and alarming levels of global inequality. The committee, established by South Africa’s G20 presidency, warns that inequality is reaching dangerous levels, with the richest 1% population capturing 41% of all new wealth since 2000, while the bottom 50% of humanity received just 1%. The following are some of the key points from the committee’s observations – 1. 83% of countries have high income inequality, which indicates a widespread issue of income disparity across the globe, affecting 90% of the world’s population. Quick Response Code: Website: https://jrdrvb.org/ DOI: Creative Commons (CC BY-NC-SA 4.0) This is an open access journal, and articles are distributed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International Public License, which allows others to remix, tweak, and build upon the work noncommercially, as long as appropriate credit is given and the new creations ae licensed under the idential terms. Address for correspondence: Dr. Parag A Inamdar, Adv. V. B. Deshpande College of Commerce (Night), Mulund w. How to cite this article: Parag A Inamdar (2025). Global Inequality and India’s Vision 2030. Journal of Research & Development, 17(11(I)), 101-104. 1 Thomas Piketty, Lucas Chancel, and Nitin Kumar Bharti, "Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj," World Inequality Lab, 2022. Original Article Journal of Research and Development A Multidisciplinary International Level Referred and Double Blind Peer Reviewed, Open Access ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-11(I)| November 2025 102 2. Only a small fraction of humanity lives in countries with low inequality, highlighting the rarity of equitable societies, making it a significant concern for global development. 3. Global income inequality between countries has narrowed slightly since 2000 due to China’s rise. China’s economic growth has contributed to reducing income gaps between countries. 4. Top 1% have increased their income share in nearly half the world’s economies, reaching 68% of the global population. The wealthy are accumulating more income, affecting a significant portion of the world’s population. 5. The bottom 50% saw their real incomes rise only marginally, which stark contrast highlights extreme income disparity and unequal economic growth. 6. Thus, wealth inequality is far higher than income inequality and rising at a faster pace. Wealth concentration is a more pressing issue, with the rich accumulating wealth at an alarming. 7. Inequality slows economic growth, and reducing it improves economic performance, social stability, and productivity. Addressing inequality can have positive effects on the economy and society. 8. Food insecurity is rising as billionaire wealth surges; growing wealth disparity is linked to increasing food insecurity and social issues. 9. A New International Panel on Inequality (IPI) is proposed to coordinate and improve the global effort needed to combat inequality, starting with better monitoring and policy measures. 10. Distribution of Income in the world – Fig. 1 Source: Joe Hasell, Bertha Rohenkohl, Pablo Arriagada, Esteban Ortiz-Ospina, and Max Roser (2023) - “Economic Inequality” Published online at OurWorldinData.org. Retrieved from: 'https://ourworldindata.org/economic-inequality' [Online Resource] Above map illustrates the Gini Coefficient in 2023, which measures how unevenly income is distributed within each country. A value closer to 0 means income is shared more equally, while a value closer to 1 means a large gap between the rich and the poor. The darkest regions – notably South Africa, Parts of Latin America like Brazil, Colombia, and Mexico – show very high inequality, meaning a small portion of the population holds the most of the income. Much of Africa also experiences significant inequality. In contrast, countries in Europe, Canada, Australia and parts of East Asia appear lighter, indicating more balanced income distribution. India, China and several Middle Eastern nations show moderate inequality, falling between the extremes. Overall map highlights global economic imbalances, with wealth concentration particularly severe in developing regions, while advanced economies generally show more equal income distribution.  Indian Efforts – India’s roadmap to 2030 is ambitious, focusing on sustainable development, economic growth and social inclusion. The country aims to become a $5 trillion economy by FY29, according to the International Monetary Fund (IMF). The country’s GDP is expected to grow at CAGR of 11% between FY2024 and FY2030, reaching $7.3 trillion by 2030 2 . driven by rapid urbanisation, technological advancements and industrial development. India’s Vision 2030 is the framework plan that seeks to make India among the world's foremost diplomats and development partners. The strategy is an ambitious vision toward an integrated approach to sustainable development and growth. Reducing inequality is a crucial aspect of India’s Vision 2030 3 . India is one of the most unequal countries in the world, with a significant wealth gap between the rich and the poor. This inequality is reflected in various aspects of life, including education, healthcare and access to opportunities. India has a big plan, called Vision 2030. The goal is to make India a leading country in the world by 2030. This entire process broadly depends on – 2 International Monetary Fund (2025), India Staff Consultation Report 3 https://diplomatist.com/2024/11/30/indias-vision-2030-charting-a-strategic-roadmap-for-global-diplomacy-anddevelopment Journal of Research and Development A Multidisciplinary International Level Referred and Double Blind Peer Reviewed, Open Access ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-11(I)| November 2025 103  Economic Growth – India wants to become a $5 trillion economy by 2030 by focusing on: Make in India, Digital India, Startup India and increasing exports and trade.  Green Growth and Sustainability – The country is committed to reducing pollution and using more renewable energy. The target is to get 50% of energy from renewable sources like solar and wind power, achieve net zero emissions by 2070, and promote sustainable development and reduce waste.  Social Development – India want to improve the lives of its citizens, hence the country is focusing on Education and healthcare, clean water and sanitation, reducing poverty and inequality.  Technological Innovation – India is embracing technology to drive growth and development. To do so country is focused on developing artificial intelligence, blockchain and cybersecurity, improving digital literacy and technological access to everyone, and encouraging innovation and entrepreneurship.  Global leadership – India will be a leader on the world stage. Clear focus is on building relationships with other countries, working with international organisations, promoting peace and stability in the region, which will give them a clear advantage over some of the developed countries. The country is also committed to achieving the Sustainable Development Goals (SDGs), which include reducing poverty, promoting equality, and ensuring access to education and healthcare. An attempt has also been made to reduce its carbon footprint and promote sustainable development. India’s green growth strategy includes increasing the use of renewable energy, promoting sustainable transport and reducing waste. India’s social development goals include improving education and healthcare, increasing access to clean water and sanitation, and reducing poverty and inequality. The country is implementing various schemes and programs like Ayushman Bharat and Jal Jeevan Mission to achieve these goals. Ayushman Bharat scheme, which provides health insurance coverage to over 500 million people, including those from marginalized communities. This scheme has helped to increase access to healthcare for millions of people who previously could not afford it. Another key initiative is the Jal Jeevan Mission, which aims to provide clean drinking water to every households in the country. This is particularly important for rural communities, where access to clean water is often limited. By providing clean water, the government hopes to reduce the incidence of water-borne diseases and improve overall health outcomes. In addition to these initiatives, the government is also focusing on education and skill development. The goal is to increase access to quality education for all, particularly for girls and marginalized communities. Initiatives like Beti Bachao, Beti Padhao Scheme aim to promote girls' education and reduce the gender gap in education. The government is also promoting entrepreneurship and job creation, particularly in the informal sector. Initiatives like the Startup India program aim to encourage entrepreneurship and innovation, while the Make in India program aims to create jobs in the manufacturing sector. To reduce inequality, India also needs to address the issue of unequal access to opportunities. The government is working to increase access to digital technologies, including internet connectivity and digital literacy. This will help to bridge the digital divide and provide opportunities for people from all backgrounds to participate in the digital economy. The government is also focusing on promoting financial inclusion, particularly for marginalised communities. Initiatives like the Jan Dha Yojana aim to increase access to banking and financial services for the rural and urban population who don’t have access to banking facilities. World GDP Growth from 1990 to 2024 - Fig. 2 Journal of Research and Development A Multidisciplinary International Level Referred and Double Blind Peer Reviewed, Open Access ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-11(I)| November 2025 104 Source: Joe Hasell, Bertha Rohenkohl, Pablo Arriagada, Esteban Ortiz-Ospina, and Max Roser (2023) - “Economic Inequality” Published online at OurWorldinData.org. Retrieved from: 'https://ourworldindata.org/economic-inequality' [Online Resource] The two maps show how global GDP per capita has increased significantly from 1990 to 2024. In 1990 much of the world was shaded in light green, reflecting LOW INCOME levels, by 2024 Many countries shifted to darker blue shades, indicating substantial economic growth. Emerging economies like China, India, Brazil showed clear progress. India’s Role in Reducing Global Inequality – India is an important player on the global stage, and its efforts to reduce inequality can have a ripple effect worldwide. Here are some of the ways through which India can contribute in reducing global inequality – 1. Developing Cooperation – India can share its expertise and resources with other developing countries to help them address similar challenges. This can include sharing technologies, providing capacity building programs and offering financial assistance. 2. Global Advocacy – India can use its voice in international forums like the United Nations, G20 and BRICS to advocate for policies that promote equality and sustainable development. India can push for global policies that address issues like tax evasion, trade agreements and climate change, which may affect developing countries. 3. Global Partnership – India can strengthen partnerships with other countries and international organisations to promote sustainable development and reduce inequality. This can include collaborations on issues such as climate change, healthcare, and education. 4. Global Governance – India can advocate for reforms in global governance structures, like the International Monetary Fund and the World Bank to make them more representative and inclusive. 5. Leading by Example – India’s progress in reducing poverty and promoting economic growth can inspire other countries to follow the same. By sharing its experiences and best practices, India can show the world that inclusive development is possible. Conclusion – India has made significant strides in reducing global inequality, lifting over 271 million people out of multidimensional poverty between 2013-14 to 2022-23. Flagship programs like Ayushman Bharat, Jal Jeevan Mission and Pradhan Mantri Jan Dhan Yojana have improved access to healthcare, sanitation and financial inclusion. India’s efforts to reduce poverty are reflected in its progress towards the SDGs. The country has achieved 100% rural sanitation, reduced child mortality rates and provided clean cooking fuel for poor households. The country’s focus on inclusive growth has led to significant improvements in education, healthcare and social security. Initiatives like Beti Bachao Beti Padhao and National Education Policy 2020 aim to improve literacy and employability. Programs like Ayushman Baharat provide free healthcare to economically weaker sections. India is committed to helping other countries overcome wealth inequality by sharing its expertise and experiences in poverty reduction, healthcare and education. The country will collaborate with other nations to develop and deploy affordable technology to promote inclusive growth. By working together with other countries, India aims to create more equitable and prosperous world. References – 1. Piketty, T. (n.d.). Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj. 2. Drèze, J., & Sen, A. (2013). An Uncertain Glory: India and its Contradictions. Princeton University Press. 3. Times of India. (2025, October 12). Top 5 sectors reshaping workforce needs in 2025: Growing demand for tech skills and renewable energy roles. 4. Times of India. (2025, July 29). Shaping India’s multidimensional fight against poverty. 5. Times of India. (2022, March 8). India's Inequality Problem. 6. https://g20.org/wp-content/uploads/2025/11/2-G20-Global-Inequality-Report-Full-and-Summary.pdf accessed on 25th Nov. 2025. 7. Joe Hasell, Bertha Rohenkohl, Pablo Arriagada, Esteban Ortiz-Ospina, and Max Roser (2023) - “Economic Inequality” Published online at OurWorldinData.org. Retrieved from: 'https://ourworldindata.org/economicinequality - Online Resource