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BUSINESS & TRADE OCTOBER 03, 2025 | The Indian Eye 36

India’s Economic Engine Roars: A Story of

Resilience, Reform, and Global Confidence

Amid global uncertainties, India is emerging as a robust economic force, driven by domestic

reforms, global investor trust, and a visionary roadmap for self-reliance and innovation

OUR BUREAU channels stepped up. Equity issuanc-
es, NBFC credit, and external bor-
New York / New Delhi
rowings ensured overall funding to
nion Minister Piyush Goyal’s businesses remained robust.
recent high-profile engage- The role of Non-Banking Fi-
Uments in the United States nancial Companies (NBFCs) has
underscore a critical truth: India has become increasingly critical, with
not only entered the global economic strong fundamentals reported at the
stage — it is commanding attention end of 2024 — including improved
and confidence. In meetings with asset quality and capital adequacy.
top executives of global giants like Borrowings, their main source of
Blackstone, FedEx, IBM, DP World, funds, have grown at a faster pace,
Carlyle Group, and Warburg Pincus, reflecting confidence in their stability
Goyal painted a clear picture of an and intermediation capabilities.
India that is open for business, ripe Digital transformation contin-
for innovation, and rooted in eco- ues to be a standout. Unified Pay-
nomic resilience. ments Interface (UPI) adoption has
From logistics to technology, triggered a structural shift in the
and from infrastructure to financial payments ecosystem, reducing cash
services, global leaders are doubling dependency and promoting financial
down on India’s growth story. Black- inclusion. The RBI’s empirical study
stone reaffirmed its investment plans, confirmed that states with higher
while FedEx explored deeper logis- UPI penetration showed lower cash
tics collaborations. IBM’s discussions usage, marking a crucial leap to-
centered on emerging technologies wards formalisation.
and India’s young talent pool — a Perhaps most importantly, the
major competitive advantage. This RBI reported a decline in house-
isn’t mere diplomacy — it’s a clear Union Minister of Commerce & Industry, Piyush Goyal, releases a commemorative coin during hold consumption inequality and
signal of long-term investor trust in an event for the celebration of ‘10 Years of Make in India’ (ANI Photo/Jitender Gupta) a convergence in per capita spend-
India’s fundamentals. ing across states. Poorer states are
This sentiment was echoed in catching up, and poverty incidence is
Goyal’s interactions with World Bank becoming the world’s second-larg- India’s (RBI) latest September 2025 falling — evidence that growth is not
est mobile manufacturer, India’s
President Ajay Banga and US-India industrial resurgence is undeniable. bulletin. just high but also inclusive.
Strategic Partnership Forum (USI- The Production Linked Incen- In the first quarter of FY25-26, Infrastructure investment —
SPF), where themes of sustainable tive (PLI) schemes have played a piv- India recorded a five-quarter high in spanning physical, social, and digital
growth, inclusive innovation, and en- otal role in this transformation, at- GDP growth, propelled by strong do- domains — has significantly con-
ergy transition took center stage. At tracting massive investments across mestic demand and ongoing structur- tributed to India’s upward trajecto-
an energy security session co-hosted sectors. With “Make in India 2.0” al reforms. Unlike advanced econo- ry. This capital formation is laying
by ReNew Power, Goyal reiterated mies struggling with fiscal tightening, the foundation for long-term GDP
India’s commitment to clean ener- targeting 27 key sectors, the govern- India has benefited from its steady growth and socio-economic mobility.
ment is not just riding momentum
gy leadership under Prime Minister but expanding its vision. This com- policy direction and reform-driven India’s economic story is not one
Modi’s “One Sun, One World, One prehensive push is preparing India to growth. GST reforms are beginning of momentary performance but of
Grid” vision. move from being the factory of the to yield long-term gains, reducing systemic strength. From internation-
These meetings aren’t happen- the cost of doing business and cata- al boardrooms to rural Bharat, the
ing in isolation. They are a continu- world to a global hub for innovation, lyzing consumption. country’s economy is demonstrating
sustainability, and technological ex-
ation of the strategic narrative India cellence. Even inflation — a persistent a rare blend of scale, stability, and
has been building since the inception concern globally — remains well inclusivity. Supported by robust re-
of the Make in India initiative in 2014. Strength of Domestic Engine below target for the seventh con- forms, strategic global partnerships,
Now in its 11th year, Make in India secutive month, a testament to bal- and an unwavering commitment
has matured from a campaign into hile geopolitical tensions, anced macroeconomic management. to self-reliance, India is not merely
a movement — one that has funda- inflation concerns, and Financial flows to the commercial navigating global uncertainty — it is
mentally restructured India’s manu- Wfiscal pressures weigh on sector have also remained healthy. thriving through it.
facturing, innovation, and investment major economies, India’s econom- While bank credit growth moderated As the world looks for engines of
ecosystem. From record FDI inflows ic performance stands out — a fact due to regulatory tightening on un- growth, India stands tall — resilient,
and a flourishing startup scene to reinforced by the Reserve Bank of secured lending, non-bank financial reformed, and ready.

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