India’s policy solutions, inspired by the vision of a generative, inclusive and sustainable economy, would ensure that the impact of a $ 10 trillion economy will be robust in the world. This was the general conclusion of World Economic Forum President Berge Brende, who shared his views at the Indian Economic Summit, jointly organized by the Confederation of Indian Industry (CII) in New Delhi. Most notably, this plausible observation resonated with most participants, including national and international leaders as well as business leaders. It is unanimously recognized that “the
GEF Executive Director Sarita Nayyar has rightly pointed out that recent reforms such as bank mergers and corporate tax cuts have made India more attractive as a destination for investment. The drop in the corporate tax was an essential boost for the economy. It now aligns India with its counterparts in South Asia and Southeast Asia, giving it a leading position and a competitive edge in its large domestic markets.
Bangladeshi Prime Minister Sheikh Hasina has been discerning to work together to address common challenges, such as poverty in South Asia, by harnessing the region’s inherent pluralism, despite its ethnic and linguistic diversity. . She said Indian trade has huge potential in different sectors in Bangladesh. In addition, Hasina said that Dhaka wanted to see “trade and investment combined so that Indian investors can establish industries in Bangladesh and export their products to the states of Northeast India and Southeast Asian countries, taking advantage of the improved connectivity between us. ” This seems to be a wise way to break the stalemate in which lies the
The Indian Minister of Foreign Affairs, Dr. S. Jaishankar, said that “the entire neighborhood, with the exception of one member, has shown fairly good regional cooperation” He said while emphasizing that India insists tirelessly to strengthen its ties with its neighbors. The exception mentioned by Dr. S. Jaishankar alludes to Pakistan, which has been inept in world forums on the Kashmir issue, which has been largely treated by the international community as an internal problem in the world. India
The US Secretary of Commerce, Wilbur Ross, hoped there was no reason for a trade agreement between the United States and India not to be signed before long, given the absence of any structural reason . This was a point made by Indian Trade Minister Piyush Goyal as well. This gives impetus to a quick resolution of delicate bilateral issues, including the protectionism of domestic products in both markets. When Secretary Ross stressed that India must “balance the interests of its small retailers by giving its people access to cheaper products through e-commerce if it does not want to curb growth. Mr.
NITI Aayog CEO Amitabh Kant focused on lowering the corporate tax rate, public sector divestment and asset monetization measures, as well as pursuing reforms to revive economic growth of the country. In particular, he mentioned that the Indian economy has grown about 7.5% over the last five years.
The two-day India-centered economic conclave has been at the root of India’s enormous progress in development while ensuring sustainable growth for its citizens. The Summit also highlighted India’s continued efforts to pursue comprehensive structural reforms for inclusive growth.
Text by G. Srinivasan, Chief Economist Journalist
Manmeet SINGH Translation