Vice-President C P Radhakrishnan on Saturday said India could call itself a developed economy only if its development was inclusive, stressing that growth must reach every section of society.
Speaking at the inauguration of the Kautilya Economic Conclave 2026, the Vice-President said India was moving towards becoming a developed economy, but added, "We can call ourselves a developed economy if it is an inclusive development of everyone."
Radhakrishnan underlined the importance of consensus and inclusivity in policymaking, arguing that policymakers must understand ground realities at both the micro and macro levels. He pointed to China as an example of this approach, noting that it understood the realities of both the village and the globe and had consequently risen to become the world's second-largest economy. "Policymakers should always understand the ground realities," he said.
In what he described as a time of flux for the global economy, Radhakrishnan said decisiveness must be embedded in consensus. "We have to debate, we have to discuss and we have to come to a conclusion that is acceptable to everyone," he said, adding that history showed consensus-building helped reforms move forward. "The process may sometimes be gradual and sometimes we may lose our patience also, but we should never show it outside."
Referring to reforms undertaken by the Narendra Modi government over the past decade — including Jan Dhan accounts, direct benefit transfers and the Goods and Services Tax — he highlighted financial inclusion as evidence of this approach. "India's experience of the last decade shows how inclusiveness is important... Inclusion can itself become an instrument of resilience," he said.
The remarks came on a day when top policymakers, including Principal Secretary to the Prime Minister Shaktikanta Das, addressed the conclave on the resilience of the Indian economy amid global shocks.
Sources: The Indian Express
Speaking at the inauguration of the Kautilya Economic Conclave 2026, the Vice-President said India was moving towards becoming a developed economy, but added, "We can call ourselves a developed economy if it is an inclusive development of everyone."
Radhakrishnan underlined the importance of consensus and inclusivity in policymaking, arguing that policymakers must understand ground realities at both the micro and macro levels. He pointed to China as an example of this approach, noting that it understood the realities of both the village and the globe and had consequently risen to become the world's second-largest economy. "Policymakers should always understand the ground realities," he said.
In what he described as a time of flux for the global economy, Radhakrishnan said decisiveness must be embedded in consensus. "We have to debate, we have to discuss and we have to come to a conclusion that is acceptable to everyone," he said, adding that history showed consensus-building helped reforms move forward. "The process may sometimes be gradual and sometimes we may lose our patience also, but we should never show it outside."
Referring to reforms undertaken by the Narendra Modi government over the past decade — including Jan Dhan accounts, direct benefit transfers and the Goods and Services Tax — he highlighted financial inclusion as evidence of this approach. "India's experience of the last decade shows how inclusiveness is important... Inclusion can itself become an instrument of resilience," he said.
The remarks came on a day when top policymakers, including Principal Secretary to the Prime Minister Shaktikanta Das, addressed the conclave on the resilience of the Indian economy amid global shocks.
Sources: The Indian Express
