India’s growth must reach all to become a developed economy: VP

Vice-President C. P. Radhakrishnan on Saturday called for resilient, inclusive and responsive economic policies to address rapid changes in the global economic environment while delivering the inaugural address at the 5th Kautilya Economic Conclave in New Delhi. The conclave, organised by the Institute of Economic Growth (IEG) on the theme “Resilience in an Age of Flux”, brought together policymakers, economists, academics, business leaders and other participants. 
Referring to the IEG’s legacy, Radhakrishnan said the institute has remained closely associated with India’s development journey since its establishment in 1952 under economist VKRV Rao. He said sound policymaking must be based on an understanding of ground realities and remain flexible enough to respond to changing circumstances. “In times of flux, decisiveness must be embedded in consensus,” Radhakrishnan said, stressing that while debate and discussion are integral to democracy, they should ultimately lead to decisions that command broad acceptance.
As Chairman of the Rajya Sabha, he said free and transparent debate strengthens democracy, while rights and duties must go hand in hand. Radhakrishnan said India has demonstrated that democracy and development can progress together, with consensus-building helping give economic reforms greater durability and sustainability. He said this experience provides an important foundation for the vision of a Viksit Bharat by 2047.
The Vice-President said economic resilience is built not only in boardrooms and financial markets but also when women in villages gain access to bank accounts, receive benefits directly, enter the formal economy and transform Self-Help Groups into enterprises. He said more than 250 million Indians had moved out of extreme poverty, calling it a historic achievement, and stressed that every state, district and village should be an equal partner in India’s development journey. Radhakrishnan said India’s resilience would come “not from resisting change, but from embracing it with confidence, inclusion and a spirit of collective endeavour.”