Right time to invest in the fastest-growing economy: Vice President Radhakrishnan

Vice President of India C.P. Radhakrishnan on Friday said this is the right time to invest in India, the world’s fastest-growing major economy,

He spoke on the pan-India wave of conducive reforms across all sectors in his address at the inaugural session of the 30th edition of the CII Partnership Summit themed ‘Technology, Trust, and Trade–Navigating the New Geoeconomic Order.’

He noted that India’s ease of doing business is set to become one of the best globally, driven by ongoing reforms in labour, taxation, and infrastructure.

Elaborating on India’s strengths, the Vice President said that India has emerged as a knowledge-driven economy by seamlessly integrating technology with commerce.

Referring to the country’s rapid progress, he noted that India is already the world’s third-largest startup ecosystem and is on track to become the third-largest economy.

Citing the booming energy sector, he said that India is poised to become a global hub for clean technology exports, while emphasising the importance of balancing growth with environmental sustainability.

Echoing the growth momentum Piyush Goyal, Union Minister for Commerce and Industry, said India’s rise will benefit the world, and the journey towards a Viksit Bharat will be driven by three pillars of technology, trust through righteousness, and trade through capability.

Delivering the special address on the occasion, Goyal added that as India positions itself as a consistent and principled partner, trust is reinforced through righteousness, practicing “Vasudhaiva Kutumbakam,” .

India’s trade last year tells a remarkable story, with exports crossing USD 825 billion despite global headwinds, and rising FDI flows a testament to investors’ trust in India. India is advancing FTAs with the UK, the EFTA bloc, bringing USD 100 billion in FDI and 1 million direct jobs, he said. Predictability is ensured through sustained reforms, including the removal of 42,000 compliances while the next-generation GST reforms, would enhance ease of doing business, giving rise to consumer spending.

AP Governor Syed Abdul Nazeer said that Make-in-India has been a pivotal step to facilitate investment, foster innovation, enhance skill development, protect intellectual property, and build best-in-class manufacturing infrastructure, making India the focus of global attention. Talking about AP, he said that the State has set its sights on becoming a future-ready, innovation-driven State. “From IT and advanced manufacturing to quantum technologies and green hydrogen, AP is emerging as a trusted partner in India’s growth story and a key player in the global transition to a sustainable future,” the Governor added.

Several examples of how India is growing were shared by the Ministers from the Union Government. Civil Aviation Minister Kinjarapu Rammohan Naidu, Minister said AP is India’s innovation frontier; a gateway to growth in speed and in spirit. Cyberabad, Amravati, and Uttar Andhra are testimony to this. .

India is the third-largest domestic aviation market, opening a new airport every 50 days. Andhra is creating a logistics and aviation hub, expanding Drone City, enabling new inventions, and positioning itself as the sunrise State.

“Investing in India offers the opportunity to tap into the world’s fastest-growing middle class, which is set to reshape the world. The 21st century belongs to Asia, powered by India’s rise. AP is a State where sectoral strengths converge, and the State is eager for investments.”, mentioned Dr Pemmasani Chandra Sekhar, Minister of State, Rural Development & Communications.

Minister of State for Steel Bhupatiraju Srinivasa Varma said “India is on track to becoming the third-largest economy. The Government of India is committed to Andhra Pradesh’s growth and recognises the State as a key growth engine, since AP offers a business-friendly ecosystem, ease of doing business, infrastructure development, and skill development.”

AP IT Minister Nara Lokesh said “speed is the mission driving the State Government’s efforts to foster the growth of businesses with swift permissions and approvals."

He said "in the government, we strive to outpace the speed of the companies themselves,” he stated.