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    BUSINESS & TRADE                                                         JUNE 27, 2025     |  The Indian Eye 38

             Unlocking India’s Growth: Government

                      Push Meets Private Sector Vision

                 As India chases its ambition of becoming a developed nation by 2047, the government’s

                    strategic policy shifts and the private sector’s demand for deeper transformation are

                                       converging to shape the future of the Indian growth story

            OUR BUREAU

            London/Mumbai
               ndia is at an economic inflection
               point. With the goal of becom-
            Iing a developed nation—Viksit
            Bharat—by  2047,  the  government
            is aggressively pursuing reforms to
            stimulate investment, innovation, and
            inclusive development. At the same
            time, corporate leaders are calling for
            a  broader, more  decentralized  trans-
            formation to unlock the full poten-
            tial of India’s 1.4 billion people. The
            conversation between the state and
            the private sector is no longer about
            whether growth is possible, but how to
            make it more dynamic, inclusive, and
            sustainable.
                At the India Global Forum (IGF)
            2025 in London, Union Minister for
            Commerce and Industry Piyush Goyal
            laid out the government’s economic vi-   Union Minister of Commerce and Industry Piyush Goyal speaks during an interaction with Sir Ian Blatchford, Director & Chief Executive
            sion following the landmark India-UK
            Free Trade Agreement (FTA) signed           of the Science Museum Group, at the Future Frontiers Forum, in London on Thursday (@PiyushGoyal X/ANI Photo)
            in May. In a keynote session titled
            “From  Agreement  to  Action,”  Goyal   deeper structural reforms within In- flagship  programs  such  as  Make  in   On the other hand, the private
            emphasized that the FTA is more than   dia. Speaking at the Chintan Research  India, PLI schemes, and investments   sector is asking important questions
            a trade deal—it represents India’s  Foundation’s  (CRF)  foundation  day  in digital public infrastructure. Yet,   about how growth is distributed and
            evolving global economic identity.  in New Delhi, Pranav Adani, Direc- as Adani’s remarks suggest, regional   how policy is shaped. As companies
               “The agreement demonstrates    tor of Adani Enterprises, called for a  diversity must be matched with policy   like Adani Group expand into  com-
            India’s capacity to shape future-ready  “scale of transformation” to realize In- attention and ground-level data.  plex infrastructure and energy sectors,
            trade frameworks that protect our na- dia’s full potential.            Adani also emphasized the need   they are demanding more granular,
            tional interest while driving interna-  “Half of the economy is actively  for Indian policy think tanks to proj-  data-driven policymaking that reflects
            tional partnerships,” Goyal said. The   contributing to growth, while the oth- ect India’s development story beyond   India’s regional heterogeneity.
            FTA is designed to enhance bilateral   er half remains passive,” Adani noted.  its borders, especially as nations of the   Ultimately, India’s path to becom-
            trade while unlocking key areas such  “To truly unlock India’s potential, that  Global South look for replicable mod-  ing a $10 trillion economy will depend
            as startup support, SME participation,  dormant 50% must be engaged. That’s   els of inclusive growth. “As the Global   on how effectively both the top-down
            professional mobility, and innovation   where the real growth story lies.”  South rises, we must offer policy nar-  policies and bottom-up initiatives can
            exchange.                             Adani underscored the need for  ratives to other developing countries   be synchronized. The government
                Speaking at a parallel session on   inclusivity  and  regional  participation,  based on our own growth experienc-  must continue forging global part-
            science, technology,  and  innovation,  urging institutions like CRF to decen- es,” he said.          nerships and investing in future-ready
            Goyal pointed to sectors like fintech,  tralize research and policy conversa-  The synergy between India’s in-  infrastructure, while simultaneously
            sustainable manufacturing, and green   tions. “India is not just one city or one   ternational  economic  diplomacy  and   enabling private enterprise and local
            technologies as central to India’s next  region. It’s a chorus of diverse voices.  its domestic reform agenda is key to   institutions  to  amplify  innovation  at
            growth chapter. Flagship initiatives  We must reach out to places like Ran-  unlocking long-term growth. The In-  the grassroots.
            like UPI and CoWIN, he noted, are   chi, Raipur, Bhubaneswar, and the   dia-UK FTA, as Goyal outlined, is just   The message  from London to
            not only transforming Indian lives   northeast. Only then will our policy  one of several strategic moves. The   New Delhi is clear: India’s growth
            but are also ready for global scaling  truly reflect the aspirations of our en- agreement not only facilitates smoother   engine has multiple cylinders—gov-
            through bilateral cooperation.    tire nation,” he said.            goods and services trade but also paves   ernment policy, private enterprise,
                Complementing   the   govern-     This call for decentralization   the way for enhanced cooperation in   regional inclusion, and global integra-
            ment’s international strategy, business   aligns with the government’s push   critical technologies, defense produc-  tion. For Viksit Bharat to become re-
            leaders are reinforcing the need for  for bottom-up growth, supported by  tion, and advanced manufacturing.  ality, all of them must fire in harmony.

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