Ajay Seth Urges Purpose-Driven Growth Amid Global Uncertainties

Finance Secretary Ajay Seth has emphasized the need for India to adopt a more purpose-oriented approach to navigate the persistent global risks and uncertainties. Speaking at the Skoch Development Foundation event, Seth highlighted the importance of inclusive and rapid growth to achieve India's vision of becoming a developed nation by 2047.
Seth pointed out the shift in geopolitics from cooperation to competition, urging India to focus on people-friendly regulatory reforms and entrepreneurship to foster productivity. He also stressed the need for "light-touch" regulations that encourage innovation without stifling growth. According to Seth, achieving inclusive growth is essential, as distributive policies alone cannot yield optimal results without a robust economic foundation.
The Finance Secretary outlined four key areas for sustained growth: agriculture, MSMEs and manufacturing, investments, and exports. He emphasized the critical role of agriculture as a growth engine, even in 2047, when a significant portion of the population will still rely on farming.
Seth's remarks come at a time when India is navigating a challenging global environment, with geopolitical tensions and financial market uncertainties posing risks to economic growth.

Sources: The Economic Times, Skoch Development Foundation.