On Saturday, Vice-President C.P. Radhakrishnan emphasized the significance of consensus and inclusivity in India’s journey towards becoming a developed economy. Speaking at the Kautilya Economic Conclave 2026, he asserted that true development in India must encompass all segments of society.

Radhakrishnan remarked, “We can only claim the title of a developed economy if our progress is inclusive and benefits everyone.” He highlighted the necessity for policymakers to grasp both micro and macroeconomic realities, noting that China has successfully managed to do this.

“Understanding the specific needs of villages allows us to identify the appropriate strategies for their development. When formulating macroeconomic policies, it is crucial to comprehend global realities,” he added. He credited China’s remarkable growth, which has positioned it as the world’s second-largest economy, to its leaders’ awareness of both local and global contexts.

Addressing current economic challenges, Radhakrishnan stressed the need for consensus in decision-making. “In these uncertain times, it is vital that our decisiveness is rooted in collective agreement. We must engage in discussions and debates to reach conclusions that are acceptable to all parties involved.”

He also acknowledged the reforms initiated by the Narendra Modi administration over the last ten years, such as the Jan Dhan accounts, direct benefit transfers, and the Goods and Services Tax, which have significantly advanced financial inclusion.

“History shows that building consensus is essential for advancing reforms. While this process may sometimes be slow, and patience may wear thin, we must remain composed,” he stated. Radhakrishnan concluded by underscoring the lessons learned over the past decade, highlighting that inclusivity itself can serve as a source of resilience for the nation.