Business · India Bureau
India needs sustained reforms, self-reliance for developed nation status: Das
Former RBI Governor Shaktikanta Das has emphasized that India must strengthen domestic capabilities while maintaining global market integration to achieve developed nation status. Das highlighted the importance of concluding more free trade agreements alongside building self-reliance.
LSN India ·
Shaktikanta Das, the former Governor of the Reserve Bank of India, has underscored that sustained economic reforms and self-reliance are critical pillars for India's journey towards becoming a developed nation, commonly referred to as 'Viksit Bharat'.
Das stressed that India must focus on building stronger domestic capabilities across sectors while remaining meaningfully integrated with global markets. He emphasized that this dual approach would enable the country to leverage international trade opportunities while reducing dependency on external factors.
The former central banker also highlighted the importance of pursuing free trade agreements with key partners. According to Das, concluding more such agreements would help India expand its export markets and attract investment, contributing to sustained economic growth.
Das's remarks come at a time when India is pursuing its broader economic agenda aimed at achieving developed nation status by 2047. Policymakers have been focusing on structural reforms, infrastructure development, and skill enhancement to support long-term growth objectives.
The emphasis on self-reliance while maintaining global engagement reflects India's strategic approach to balancing domestic development with international economic participation. Experts believe this balanced strategy could help India navigate global economic uncertainties while building resilience.