Chennai, Dec 19: Leaders from government, industry, and global economic institutions convened today at Times Network’s 11th India Economic Conclave (IEC 2025) at Taj Palace, New Delhi, for the first day of the two-day flagship event. The conclave, themed “Navigating Geoeconomics,” provided a premier platform to examine India’s growth, strategic autonomy, and global positioning in an increasingly multipolar world.
Day 1 featured high-impact sessions and panel discussions covering economic resilience, trade and capital flows, infrastructure and manufacturing, digital and services-led growth, and emerging priorities including AI, cybersecurity, climate transition, mobility, and defence preparedness.
Mr. Vineet Jain, Managing Director, The Times Group, said,
“We meet at a moment when the global order is undergoing rapid calibration. Economic power blocs are shifting, tariff battles are redefining trade flows, technological supremacy is the new currency of influence, and energy geopolitics is reshaping alliances across continents. Our latest GDP numbers reaffirm India as the world’s fastest-growing major economy. This year’s theme, Navigating Geoeconomics, could not be more timely. The world is entering an era where economics and geopolitics are inseparable. The strategic importance of Supply chains, critical minerals, energy security, digital sovereignty, and trade alliances is now on par with military decisions. Nations that can integrate economic foresight with geopolitical acumen will define the next global chapter. India is unquestionably one of those nations. India’s moment is not approaching, it is here. As we look forward to 2047– 100 years of our independence—we stand at the threshold of a historic transformation. The mission is clear and unwavering: To make India a fully developed, globally influential nation by the time we mark 100 years of freedom. Economically robust, strategically secure, technologically sovereign, environmentally responsible and globally respected.”
Nirmala Sitharaman, Minister of Finance and Corporate Affairs, highlighted India’s growth story, its ability to navigate global economic challenges, and the government’s focus on strengthening small businesses. Navigating geoeconomics while remaining a bright spot of fast and steady growth and sustaining that level of growth year after year — is something the people of India are achieving. I believe each one of us, including political parties & critics, should recognise this,” the finance minister said. She also underlined the government’s policy thrust under Prime Minister Narendra Modi, particularly towards micro, small and medium enterprises. “Our government, under Prime Minister Modi, has placed a strong focus on MSMEs,” Sitharaman said, pointing to the sector’s role in job creation, manufacturing and exports.
“Globally, it is now very clear that trade is neither fair nor free,” Sitharaman said, underlining how tariffs and non-tariff barriers are increasingly being deployed as strategic tools rather than economic correctives. “Tariffs have been weaponised globally. India’s intention was never to weaponize tariffs. We have safeguarded our industries,” the finance minister said, stressing that New Delhi’s approach has been calibrated and aimed at protecting domestic manufacturing and jobs rather than exerting pressure on trading partners.
She cautioned that the evolving environment leaves little room for complacency. “Trade is being weaponised through tariffs and other measures, and India will have to negotiate its way carefully,” Sitharaman noted, signalling that diplomacy and strategic negotiations will be critical as global supply chains fragment and economic nationalism rises. Sitharaman also placed India’s current challenges in a longer historical context. “Nearly 25% of global trade once emanated from India. That is the kind of period we should be aiming to return to,” she said, pointing to the government’s ambition to restore India’s prominence in global commerce despite today’s headwinds.
At the same event, Nitin Gadkari, Minister of Road Transport and Highways, mentioned,
“The government no longer faces resource constraints in building highways and transport networks, citing successful road monetisation and innovative financing models. Today, in my experience, we don’t have any resources problem because the way in which we are monetising the road and developing different type of models, DOT, hybrid NUT, NVID, and DOT, there is no problem about resources because the traffic density is very high,” he said.
Highlighting the impact of infrastructure on exports and GDP growth, Gadkari pointed to a sharp reduction in India’s logistics costs. He said, “India’s logistics cost earlier stood at around 16% to GDP, significantly higher than China’s 8% and the 12% average of the US and European countries.”
“In India, previously it was 16%. But the latest study from IIM Bangalore and IIT Kanpur and IIT Chennai, the report indicates that our logistic cost in the road is reduced by 6%. So now from 16 to 10, and the report was three, four months before. So today I’m confident that this logistic cost is a single digit at 9%,” he said.
The minister said lower logistics costs could boost India’s exports by nearly 1.5%, contributing to economic growth and employment generation. “This will not only create wealth but also create more jobs,” he added.
Emphasising the broader impact of road infrastructure, Gadkari said improved highways are transforming multiple sectors. “So by making good roads, not only we are developing trade, business, and industry, but we are developing tourism, and we are also developing good agriculture also. So these are the effects which are very important for the development of our country,” he said.
During her session, Gita Gopinath, Professor of Economics at Harvard University and former Deputy Managing Director of the IMF, said that”with oil prices hovering around $60 per barrel, India has an opportunity to diversify its energy partnerships beyond Russia and recalibrate relations with the United States. “From an economic perspective, this trade-off is not a bad one for India.”
On the ongoing tariff tensions between the US and China, Gopinath said she does not expect further escalation from Washington. “I don’t think the US will raise tariffs further against China, as it remains dependent on China for rare earth elements, which has become a significant deterrent,” she said.
Discussing how India can capitalise on shifts in global supply chains, Gopinath pointed to improvements in the country’s digital and physical infrastructure, while stressing the need for complementary reforms. She highlighted land acquisition as a major constraint. “It remains very complicated and difficult to acquire land in India. This limits how quickly infrastructure can be built and restricts growth,” she said.
Other distinguished speakers included V Vaidyanathan, MD & CEO, IDFC FIRST Bank, on navigating geoeconomics; Gita Gopinath, Professor of Economics, Harvard University & Former Deputy MD, IMF, on navigating geoeconomics; Mr. Vijay Kiran Anand, CEO – Invest UP, on Uttar Pradesh as an Investment Destination; David Tait, CEO, World Gold Council, on Navigating Volatility – The Golden Opportunity; Patrik Antoni, CEO, IKEA INDIA, on How to Ride the Consumption Wave; and Sridhar Vembu, Co-Founder & Chief Scientist, Zoho Corporation, on IT innovation amongst others.
IEC 2025 is presented by IDFC FIRST Bank, with strategic support from Amrita Vishwa Vidyapeetham (Knowledge Partner), World Gold Council (Gold Investment Partner), Radico (Celebration Partner), Axis Max Life Insurance (Insurance Partner), Adani (Associate Partner), Government of Uttar Pradesh (Growth Partner), and NBCC (Infrastructure Partner).
As Day 1 concludes, the conclave has already set a strong platform for robust dialogue on policy strategy, sector-level priorities, and technological innovation. Day 2 will further explore mobility, cyber readiness, AI regulation, workforce strategy, and India’s roadmap for economic leadership and global influence.
