‘India is a beacon of hope, change, and economic dynamism’

Arun Jaitley heralds an exciting dawn for India as it integrates into the world economy but acknowledges challenges posed by its size and diversity exist

Today more than ever, to paraphrase the poet John Donne, “no country is an island entire of itself”. India, too, has recognised this, becoming fully integrated into the world economy by way of trade in goods and services, as well as flows of capital, technology, and ideas. And, of course, India’s uniquely large and widespread diaspora is playing a unique role in strengthening its ties with the world.

It is a world in which India today occupies a special position. Whereas many countries — advanced and developing economies alike — are experiencing a growing sense of economic anxiety and even gloom, India is a beacon of hope, positive change, and economic dynamism.