New Delhi, October 3 (IANS). Global economists on Saturday hailed India's economic progress and underlined the importance of sustainable development, education, free trade and income-based taxation. He said that these factors can help India emerge as a major global economic power.
Speaking to IANS on the sidelines of the 5th Kautilya Economic Conference (KEC 2026), Swedish economist Daniel Waldenström said India has made impressive progress through growth-oriented policies and is well positioned to translate economic expansion into broader social benefits.
“India is moving in the right direction in terms of rapidly expanding its economy. The focus on development has been very positive and will help improve education, infrastructure and standards of living,” he said.
Waldenstrom said policymakers should pay more attention to income inequality than wealth inequality, because income levels paint a better picture of poverty and economic opportunity.
He said rising wealth of entrepreneurs can often be a sign of a growing and globally competitive economy.
On the issue of taxation he advocated taxing capital income rather than relying on wealth or inheritance tax. This includes corporate profits, dividends and interest income. He said many OECD countries have gradually moved away from wealth and inheritance taxes.
According to Jean-Claude Trichet, former President of the European Central Bank and former Governor of the Bank of France, India is moving “very impressively” in the direction that is the natural direction for India as one of the most important countries in the world.
He said, “India is certainly one of the two major emerging countries, but also a leading country in the international community. So I would encourage India to keep moving in this direction and achieve great success.”
Meanwhile, French economist Jean-Pierre Landau lauded the growing India-France partnership and described India as an important role in tackling global challenges. He said trade and investment in Asia remain strong despite geopolitical tensions and rising protectionism.
“We are facing a challenging global environment, but India is a leading, in fact, one of the most leading countries in trying to solve the world's problems at this time,” Landu told IANS.
Furthermore, Chinese economics professor Zhang Liqing described the Indian economy as “quite dynamic and quite strong”.
“I believe that it has now become one of the major attractions of global economic development. Therefore, I look forward to the sustainable development of India's economy and its greater contribution to the world economy,” Zhang said.
–IANS
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