Kolkata : India, one of the fastest-growing major economies in the world, has set a strong benchmark for inclusive growth through large-scale adoption of technology—a model that can be replicated by developing countries across the region, said Ajay Kumar, Joint Secretary (States), Ministry of External Affairs.
Addressing a programme titled “Building Global Capabilities for International Trade with South and Southeast Asia”, organised by ASSOCHAM in partnership with the Ministry of External Affairs at its Kolkata branch secretariat on Thursday, Kumar highlighted the government’s conscious policy push towards manufacturing-led growth and social inclusion.
He said initiatives such as the Make in India programme and the Production-Linked Incentive (PLI) scheme have played a crucial role in transforming India into a major manufacturing hub for sectors including mobile phones, semiconductors and automobiles.
“These deliberate policy efforts are now yielding results, which is why India has emerged as the fastest-growing major economy. At the same time, we are setting examples for inclusive growth. Even as we grow rapidly, we want the benefits of development to reach the poorest of the poor, and technology has been a key enabler in achieving this,” Kumar said.
Highlighting opportunities for Indian businesses abroad, Srinivas Gotru, Ambassador of India to ASEAN, said the region’s demographic dividend, rapid urbanisation and accelerating digital adoption make ASEAN a key long-term growth destination.
“ASEAN is among the most economically vibrant regions globally, attracting nearly $200 billion in annual foreign direct investment. Amid global economic uncertainties elsewhere, ASEAN is a region that warrants a closer and more strategic engagement from India,” he noted.
Gotru also said the ASEAN-India Trade Agreement, currently under review, is expected to conclude at the earliest. “The Department of Commerce is leading these discussions with the aim of making the agreement more trade-facilitating, balanced and responsive to present-day economic realities,” he added.
Speaking on trade facilitation, Srinivasa Naik, Chief Commissioner of Customs, said a series of reforms over the past two decades have significantly improved efficiency and reduced cargo clearance time.
“Initiatives such as Customs 2.0 and the Single Window Interface for Facilitating Trade have brought down the average clearance time to around three days, compared to nearly a week earlier,” he said.
On regional cooperation, Jhakka Prasad Acharya, Consul General of Nepal in Kolkata, emphasised the importance of efficient transit arrangements and close coordination with neighbouring countries.
“Nepal attaches great importance to seamless transit facilities and cooperation with regional partners, particularly India and countries of South and Southeast Asia. India remains the only country providing comprehensive transit facilities to Nepal. Over the past decade, nearly 68% of Nepal’s total imports and about 70% of its exports have been conducted through India,” Acharya said.
