MUMBAI — Ongoing trade negotiations between India and the United States may advance significantly by the end of November, NITI Aayog CEO B.V.R. Subrahmanyam said on Friday, expressing optimism that discussions are progressing steadily.
“Hopefully, by the end of the month, we may hear some news on that front,” Subrahmanyam said at a media event in Mumbai, noting that both sides are aligned on key issues as talks continue.
He also announced that the National Manufacturing Mission — described as a major initiative from the most recent Union Budget — will become operational this month. The mission aims to create globally competitive manufacturing hubs across 15 sectors and 75 locations, promoting clustered, scale-based industrial growth.
Subrahmanyam emphasized that India must raise its annual investment rate to 35–36 percent of GDP to sustain long-term growth of 8–9 percent, compared to the current rate of roughly 30–31 percent. He described India as the “brightest spot in the global economy,” citing its expanding market, innovation capacity, and talent base.
He argued that India should maintain an open economic posture even as other countries move toward protectionism. “Even if other nations impose tariffs, India must stay a world-class, open economy,” he said.
Attracting foreign investment will require reducing bureaucratic hurdles, he added, calling for “minimum government, maximum governance” to improve the ease of doing business. He highlighted human capital development as a critical priority.
“If I had just one rupee to invest, I’d put it on skilling and education,” Subrahmanyam said, pointing out that average years of schooling in India lag far behind advanced economies. He cited South Korea, where students typically receive 13 to 14 years of formal education, compared to six to seven years in India.
Subrahmanyam said India’s economic trajectory means global partners will increasingly seek engagement, and that consistent policy, openness, and workforce development will be key to achieving developed-nation status. (Source: IANS)
