What happened?
On 6 February 2025, India’s National Institution for Transforming India (NITI) Aayog organised a high-level conclave titled “Towards Viksit Bharat@2047: Strengthening Economy, National Security, Global Partnerships, and Law” at Sushma Swaraj Bhawan, New Delhi. The event brought together key policymakers, including the Vice Chairman, Members, and CEO of NITI Aayog, alongside distinguished speakers such as the Chief Economic Advisor to the Government of India and the Secretary of the Ministry of Defence.
Why it matters to India:
The conclave addressed several crucial areas of India’s development trajectory, offering key insights into economic growth, strategic partnerships, and national security. Regarding economic growth and global competitiveness, the panel highlighted the need for regulatory reforms, infrastructure expansion, and deeper integration into global trade. Experts emphasised the importance of private sector investment in research and development, energy security, and access to critical raw materials as key drivers for sustained growth. Strengthening fiscal policies and fostering innovation were also seen as essential for long-term competitiveness. In the area of strategic partnerships for development, the panel focused on India’s diplomatic role in balancing alliances with both the Global South and North while advocating for trade liberalisation and tariff reduction. India’s leadership in renewable energy and the importance of international cooperation in securing critical minerals were also discussed. Additionally, strengthening digital infrastructure and reforming legal frameworks were identified as vital to attracting global investment and improving the ease of doing business. Lastly, in the panel on supply chain resilience and national defence, experts explored the need for a robust defence supply chain, distinguishing between civilian Just in Time and military Just in Case models. Cybersecurity was recognised as essential to safeguarding supply chain integrity. The panel also discussed how public-private partnerships could enhance defence procurement and logistics management.