Echoing Prime Minister Modi’s vision, Union Minister Jyotiraditya Scindia asserted that development initiatives and trade expansion are mutually reinforcing forces propelling India towards a $5 trillion economy. His remarks at a prominent economic forum spotlighted this critical nexus.
Scindia detailed transformative projects: Bharatmala for highways, Sagarmala for ports, and airport expansions under RCS-UDAN. These have not only created jobs but also spiked trade volumes, with exports hitting record highs.
‘Development creates markets; trade captures them,’ Scindia explained, referencing FTAs under negotiation with the UK and EU. He highlighted how PLI schemes in 14 sectors are drawing $100 billion+ in commitments.
Challenges like geopolitical tensions were addressed head-on, with Scindia promoting ‘China+1’ strategies where India shines. Digital public infrastructure like ONDC is leveling the playing field for SMEs in e-commerce.
The audience, comprising CEOs and diplomats, engaged actively, signaling buy-in. Post-event analyses suggest this development-trade synergy could add 1-2% to annual growth rates.
Scindia ended on an optimistic note, calling for accelerated reforms and innovation. As India navigates a multipolar world, harnessing this complementary relationship will define its economic trajectory.