Pune: The Asia Economic Dialogue 2025 (AED 2025), jointly organized by the Ministry of External Affairs (MEA) and Pune International Centre (PIC), began in Pune on Thursday (February 20), marking the launch of its 6th edition.
Themed ‘Economic Resilience and Resurgence in an Era of Fragmentation,’ the three-day international conference features 12 engaging sessions and brings together more than 40 distinguished experts from nine countries to explore pressing global economic challenges and opportunities.
Delivering the inaugural address, Piyush Goyal, Minister of Commerce, Government of India, underscored India’s position as a stable economic force amid rising global conflicts. He highlighted India’s rapid advancements in artificial intelligence (AI), machine learning, and women's empowerment, positioning the nation as a global leader in economic transformation.
“Despite global conflicts, India remains an oasis of stability and the world’s fastest-growing economy. We are committed to becoming a developed nation by 2047, driven by the collective efforts of 140 crore citizens,” said Goyal.
Emphasizing women’s role in India’s growth, Goyal noted that 43% of India’s graduates are women, a crucial factor in the country’s economic progress. He credited initiatives such as Swachh Bharat and sanitary hygiene programs for their profound impact on public health and economic development.
He also highlighted the government’s pro-business initiatives, such as the Swanidhi scheme, which provides financial support and promotes digital transactions for small business owners.
Economic Strength and Global Trade Prospects
Discussing India’s economic strategy, Goyal outlined a three-pronged approach:
Strengthening macroeconomic fundamentals
Enhancing public welfare programs
Driving investment and consumption-led growth
He reaffirmed the government’s commitment to the Sustainable Development Goals (SDGs) and stressed the importance of climate action.
“India will not falter on climate commitments. Sustainability is at the heart of our development agenda,” he stated.
Goyal also addressed India’s trade deficit with China, emphasizing strict quality control measures that have been implemented to balance trade relations. He noted that by 2024, India had conducted over 700 quality control audits, reinforcing India’s stance on manufacturing excellence.
He further hinted at a potential Free Trade Agreement (FTA) between India and the U.S., highlighting India’s growing stature as a global economic powerhouse.
Dr. Raghunath Mashelkar, FRS, President, PIC, described the Asia Economic Dialogue as the "Davos of the East" and positioned India as a bridge between the Global North and Global South.