Whalesbook
India's Economic Trajectory Praised
Shaktikanta Das, Principal Secretary to the Prime Minister, lauded India's economic policies and strategic direction at the Bibek Debroy Memorial Lecture on Friday. He declared that the nation, powered by reforms and a commitment to self-reliance, now has "the wind in its sails" as it pursues ambitious growth objectives.
Das articulated that India is transitioning from an "incredible India" to a "credible India," capable of navigating global headwinds. He highlighted the government's policies and reforms as key drivers for this positive momentum, positioning the country for sustainable and credible growth.
The 'Atmanirbharta' Imperative
The core of India's strategy, as explained by Das, is 'Atmanirbharta,' or self-reliance. He clarified this does not mean isolationism but a strategic approach to build core competencies and resilience. Developing domestic capacity for critical goods and technologies is paramount to reducing over-reliance on foreign sources.
Navigating Global Economic Fragmentation
This self-reliant approach is particularly critical in the current global climate, where traditional multilateralism is strained by geopolitical rivalries and rising protectionism. Das noted that trade and supply chains are increasingly used as tools of dominance, leading to geo-economic fragmentation. The remarks come as the U.S. considers tariffs and trade deals face delays.
Pathway to 'Viksit Bharat'
A strong domestic economy coupled with an autonomous foreign policy provides India with the strength to sustain growth and act in its national interest, Das stated. Together, these factors ensure India's rise is resilient and beneficial, paving the way for the nation's ambition of becoming 'Viksit Bharat.'