India will need a reform agenda over the next 12-18 months to speed up GDP growth and aim for the creation of at least 90 million non-farm jobs by 2030. To meet that target the economy needs to grow between 8 and 8.5 percent annually over the next decade, according to a report by According to a McKinsey.

The report warns that lower growth of between 5.5 to 6 percent would help the economy absorb only about six million new workers, marking a decade of lost opportunity.

The coronavirus pandemic and the resulting lockdown combined with an already slowing pre-COVID economy, has dealt a brutal blow to the economy resulting in a 24 percent contraction in GDP in the April to June quarter, the sharpest fall ever recorded.

The report highlights the need to boost the manufacturing and construction sectors and focus on trends like digitization, automation and sustainability to create about $2.5 trillion in economic value by 2030, and support 112 million jobs.

The co-authors of the report, Gautam Kumra, managing director at McKinsey India, Shirish Sankhe, senior partner at McKinsey and Anu Madgavkar, partner at the McKinsey Global Institute talks to CNBC-TV18 about the report.