PM Modi to address Kautilya economic conclave today

PM Modi to address Kautilya economic conclave Today

Prime Minister Narendra Modi is set to deliver a keynote address today at the third edition of the Kautilya Economic Conclave, a prominent gathering of policymakers and academicians focusing on the global economic challenges faced by India and other countries of the Global South. The three-day event, held in New Delhi from October 4 to 6, is organized by the Institute of Economic Growth in collaboration with the Ministry of Finance.

The conclave will see the participation of nearly 150 leading Indian and international scholars and policymakers, and will tackle critical global and regional economic issues. According to an official statement, Prime Minister Modi’s address will take place at around 6:30 p.m. His speech is expected to set the tone for the event’s discussions, particularly in addressing the economic challenges and opportunities faced by developing nations, especially in the context of global uncertainties.

Key themes of the conclave

This year, the Kautilya Economic Conclave will focus on a broad range of pressing global economic concerns, with particular emphasis on:

1. Reforming the International Financial Architecture – Discussions will explore ways to make the global financial system more equitable and efficient, particularly in light of challenges faced by emerging economies.
2. Financing the Green Transition – A critical issue, with experts focusing on the global shift to renewable energy, and the financial strategies required to manage climate change.
3. Geo-Economic Fragmentation – Another key topic that will examine the increasing fragmentation of the global economy due to rising geopolitical tensions, and its implications for growth and development.
4. India and the Middle-Income Trap – This session will focus on how India can avoid stagnation as it climbs the income ladder, and what economic reforms are necessary to sustain long-term growth.
5. Jobs and Skilling – Given India’s large youth population, this discussion will explore how artificial intelligence (AI), machine learning (ML), and fintech can be leveraged to create more regular jobs and skill up the workforce for future needs.
6. Resilience in Public Policy Design – Experts will also explore policy principles that can ensure the resilience of economies in the face of global economic shocks and challenges.

High-profile attendees

Besides Prime Minister Modi’s address, the conclave will feature prominent national and international figures. Finance Minister Nirmala Sitharaman will inaugurate the event, setting the stage for three days of critical discussions. External Affairs Minister S. Jaishankar will deliver the closing remarks at the end of the conclave.

Other prominent attendees include Bhutan’s Finance Minister Lyonpo Lekey Dorji, PM Modi’s Principal Secretary P. K. Mishra, and Masood Ahmed, President Emeritus of the Centre for Global Development. Additionally, leading figures from global economic institutions will participate, including Justin Yifu Lin, Dean of the Institute of New Structural Economics at Peking University; Erik Berglof, Chief Economist at the Asian Infrastructure Investment Bank; Eduardo Pedrosa, Secretary General of the Pacific Economic Cooperation Council; and Martin Raiser, Regional Vice President for South Asia at the World Bank.

Notably, India’s own policy influencers will also be in attendance, such as NITI Aayog Vice Chairman Suman Beri and Dr. Arvind Panagariya, Chairman of the 16th Finance Commission.

Discussion topics

Over the next three days, participants will engage in discussions covering a range of topics. Some of the most anticipated sessions will focus on how India can accelerate job creation through its comparative advantage in AI, ML, and fintech. The conclave will also assess India’s growth trajectory and consider how to maximize productivity growth while building the country’s innovation capabilities.

Other key discussions include how the rules-based multilateral system must adapt to prevent geo-economic fragmentation and ways to make progress through multilateral consensus on global economic issues. In addition, experts will delve into how to make the financial system more resilient and efficient, which is crucial for achieving the long-term goals of sustainable development.

Climate change and energy transition will also be a central theme, with discussions on how India and other developing countries can achieve a smooth transition to renewable energy while managing the social and economic impacts of climate change.

Global impact and India’s role

The Kautilya Economic Conclave will also highlight India’s growing role as a key player and bridge-maker among countries in the Global South. The discussions are expected to provide valuable insights and proposals ahead of major international events such as the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, COP 29, and the upcoming Brazilian G20 Leaders’ Declaration.

As India positions itself as a global leader in economic policy reform and sustainable development, the outcomes of this conclave could have lasting implications, not just for India, but for the entire Global South.