Leading global economists on Saturday, 3 October praised India's economic trajectory at the 5th Kautilya Economic Conclave in New Delhi, calling for sustained focus on growth, education, free trade, and income-based taxation to cement the country's rise as a major world economic force.

Key Assessments from Global Voices

Swedish economist Daniel Waldenström, speaking on the sidelines of the conclave, said India has made impressive strides through growth-oriented policies and is well-placed to convert economic expansion into broader social gains. 'India is on a good path in terms of increasing its economy at a fast pace. The focus on growth has been very positive and will help expand education, infrastructure and overall living standards,' he said.

Waldenström also urged policymakers to prioritise income inequality over wealth inequality, arguing that income levels offer a sharper lens on poverty and economic opportunity. He noted that rising entrepreneurial wealth can reflect a globally competitive economy, and advocated taxing capital income — including corporate profits, dividends, and interest earnings — rather than relying on wealth or inheritance taxes, which many OECD countries have progressively phased out.

Trichet and Landau: India as a Global Leader

Former European Central Bank (ECB) President and former Bank of France Governor Jean-Claude Trichet described India's transformation as happening 'very impressively' and in a direction befitting one of the world's most consequential nations. 'Certainly one of the two major emerging countries, but one leader in the international community. So I would encourage India to continue to go in the same direction and with great success,' Trichet said.

French economist Jean-Pierre Landau praised the deepening India-France partnership and described India as a key actor in resolving global challenges. Despite rising protectionism and geopolitical tensions, Landau noted that trade and investment flows across Asia remain robust. 'We are facing a challenging global environment, but India is a major, if not the major, player in trying to solve the world's problems right now,' he said.

Chinese Economist Flags India's Dynamism

Zhang Liqing, Professor of Economics from China, called the Indian economy 'quite dynamic and quite strong,' adding that it has become one of the standout contributors to global growth. 'I think now it's become one of the highlights of the world economic growth. So I look forward to India's economy being sustainable and making a great contribution to the world economy,' Zhang said.

Why This Conclave Matters

The Kautilya Economic Conclave, now in its fifth edition, has emerged as one of India's premier forums for global economic dialogue, drawing policymakers, central bankers, and academics. This year's gathering comes amid a broader global debate on protectionism, geopolitical fragmentation, and the shifting architecture of world trade — contexts in which India's relatively stable growth story stands out. Notably, India is currently the world's fifth-largest economy and is widely projected to reach the third spot within this decade, lending weight to the assessments offered at the conclave.

What Comes Next

The convergence of expert opinion around income-based taxation, free trade, and human capital investment signals a broad consensus on the policy levers India should pull. Whether the government translates this external validation into concrete reform momentum — particularly on trade liberalisation and tax restructuring — will determine how quickly these projections materialise on the ground.