Piyush Goyal Highlights India’s Role as a Stabilizing Force in a Turbulent World at AED 2025
40+ distinguished speakers from 9 countries discuss ‘Economic Resilience and Resurgence in an Era of Fragmentation’
PUNE: The Asia Economic Dialogue 2025, the annual geoeconomics conference organized jointly by the Ministry of External Affairs (MEA) and Pune International Centre (PIC), kicked off in Pune on Thursday, February 20.
Themed ‘Economic Resilience and Resurgence in an Era of Fragmentation’, this is the 6th edition of the AED jointly organized by the MEA and PIC. The 3-day, 12-session international conference brings together more than 40 speakers including academicians, policymakers, and industry experts from 9 countries (Australia, Egypt, Indonesia, Japan, Nepal, the Netherlands, Singapore, South Africa, and Sri Lanka).
Delivering the Inaugural Address, Shri Piyush Goyal, Minister of Commerce, Government of India, said despite the conflicts around the world, India continues to be an oasis with stability and the fastest-growing economy. He highlighted the rapid progress in India’s engagement with innovation, particularly in AI, machine learning, and women’s empowerment.
Highlighting the role of women in development, he pointed out that 43% of graduates in India are women. He said India aims to become a developed nation by 2047 with collective commitment from 140 crore citizens.
Referring to PM Modi’s emphasis on toilets (Swacch Bharat) and providing sanitary napkins for girls, he said such small initiatives are what lead to big outcomes and have a positive impact on India’s economy. The government has made significant strides in improving sanitation and healthcare for all, including installing toilets in every school and providing free healthcare.
Shri Goyal said small business owners have benefited from the government scheme for hawkers, like the Swanidhi scheme, which provides financial assistance and encourages digital transactions to help them expand their businesses.
He said the government worked on three tracks: one, making the macro economy strong, public welfare, and investment and consumption-led growth. The aim, he said, is to take inclusive growth to every corner of the country.
Reiterating the government’s commitment to Sustainable Development Goals, Shri Goyal said sustainability is at the core of India’s development agenda. “What is needed is action and India will not be wanting on climate action,” he said.
He said the government has addressed the trade deficit with China, which had grown to 40 billion dollars, emphasizing quality control. He said that by 2024 India had 700 quality control audits. Shri Goyal said no country can survive on subsidies.
He said with US President Donald Trump taking a pole position, India and the US could have a Free Trade Agreement that could be a win-win for both countries. He underscored India’s potential as a global economic powerhouse.
In his Opening Remarks, eminent scientist Dr. Raghunath Mashelkar, FRS, President, PIC, said the AED was emerging as the Davos of the East. He said India’s strengths were size, scale, and speed, emphasizing that it was the world’s top destination for investment and talent, with a young population driving innovation and growth.
Dr Mashelkar said the world order is changing at an unprecedented pace, driven by technological breakthroughs, economic security concerns, and shifting global power dynamics. “We are living in an era of historic transformation, where economic resilience and resurgence are becoming central themes,”.
He said artificial Intelligence (AI) is no longer an emerging technology but is transforming global economies, industries, and national security. He said AI and automation should be seen as enablers, not threats.
Dr. Mashelkar said India is not just a participant in the economic transformation but it is leading the way, and, positioned between the Global North and Global South, bridges economies and emerging powers, shaping the future of economic resilience.
In the Inaugural Session, Dr. Mashelkar and Amb. Gautam Bambawale, Convenor, AED 2025, former Indian High Commissioner to Pakistan and former Ambassador to China and Bhutan, engaged in an enlightening conversation with Shri Piyush Goyal.
It was followed by a Fireside Chat with Ms. Kiran Mazumdar Shaw, Chairperson, Biocon Group, hosted by Ms. Rama Bijapurkar, distinguished expert on India’s consumer economy and author of Lilliput Land – How Small is Driving India’s Mega Consumption Story.
Over three days, AED 2025 will address the complexities of economic fragmentation and identify actionable pathways for resilience and resurgence. Through nuanced discussions on the challenges and opportunities, the conference aims to empower nations, industries, and individuals to navigate the evolving geoeconomic landscape.
Among the pivotal geoeconomic topics explored at AED 2025 are Artificial Intelligence (AI), Cyber Security, African Transformation, Blue Economy, the International Monetary System, Micro, Small and Medium Enterprises (MSMEs), and Climate Change.
The conference features Fireside Chats and sessions on ‘Re-imagining Leadership in the Era of AI and Automation’; ‘African Transformation: From Aid to Investment’; ‘Survival Before Sustainability: An Agenda for this Decade’; ‘Collaboration on Cyber Resilience: An Economic Imperative’; ‘International Monetary System: Challenges and Reforms’; ‘Unlocking Growth Potential by Empowering MSMEs’; and ‘Blue Economy in India’s Extended Neighbourhood’.
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