By A Correspondent
The Asia Economic Dialogue (AED) 2025, the annual geoeconomics conference jointly organized by the Ministry of External Affairs (MEA) and Pune International Centre (PIC), commenced in Pune on Thursday, February 20. Themed ‘Economic Resilience and Resurgence in an Era of Fragmentation,’ this 6th edition of AED brings together more than 40 distinguished speakers, including academicians, policymakers, and industry experts from nine countries—Australia, Egypt, Indonesia, Japan, Nepal, the Netherlands, Singapore, South Africa, and Sri Lanka. The three-day international conference features 12 insightful sessions.
India’s Growth and Vision for 2047
Delivering the Inaugural Address, Piyush Goyal, Minister of Commerce, Government of India, emphasized India’s resilience amid global conflicts, describing it as an oasis of stability and the fastest-growing economy. He highlighted India’s advancements in innovation, artificial intelligence (AI), machine learning, and women’s empowerment.
Goyal underlined the crucial role of women in India’s development, noting that 43% of graduates in the country are women. He reiterated India’s ambition to become a developed nation by 2047, driven by the collective commitment of its 140 crore citizens.
Government Initiatives Driving Economic Growth
The minister credited several government initiatives for boosting economic progress, including Swachh Bharat Abhiyan and the provision of sanitary napkins for girls, which have significantly improved public health and sanitation. He also highlighted the PM SVANidhi scheme, which provides financial assistance to small business owners and hawkers, helping them expand their businesses through digital transactions.
Goyal outlined the government’s three-pronged economic strategy:
- Strengthening the macroeconomy
- Enhancing public welfare
- Driving investment and consumption-led growth
He reaffirmed India’s commitment to the Sustainable Development Goals (SDGs), stating that climate action remains a core priority. He also noted significant progress in reducing the trade deficit with China, which once stood at $40 billion, by implementing 700 quality control audits.
Global Trade and Economic Leadership
Discussing international trade, Shri Goyal hinted at a potential Free Trade Agreement (FTA) between India and the United States, which could create a win-win scenario for both economies. He underscored India’s growing role as a global economic powerhouse and its commitment to fostering sustainable and inclusive growth.
India’s Emerging Global Influence
In his Opening Remarks, Dr. Raghunath Mashelkar, FRS, President, PIC, described AED as the “Davos of the East.” He highlighted India’s strengths in size, scale, and speed, positioning it as a top destination for investment and talent.
Dr. Mashelkar emphasized the rapid transformation of the global economic order, driven by technological breakthroughs, economic security concerns, and shifting power dynamics. He remarked that AI is no longer an emerging technology but a critical driver of economic growth, industrial transformation, and national security.
He also asserted that India is not merely a participant but a leader in this transformation, serving as a crucial link between the Global North and the Global South, thereby shaping the future of economic resilience.
