Seminar Series

Economic Diplomacy in Changing World: Navigating geopolitical shifts for Mutual Prosperity

Speaker: Dr Montek Singh Ahluwalia.

Date: 18/08/2023
Venue: Kale Hall, GIPE

Gokhale Institute of Politics and Economics, in collaboration with Pune International Centre, organized a seminar as part of its Seminar Series. Esteemed Indian Economist, Dr Montek Singh Ahluwalia, delivered a seminar on “Economic Diplomacy in a Changing World.” The event was chaired by Dr Ajit Ranade, Vice Chancellor of Gokhale Institute.

Dr Ranade emphasized the necessity of effective communication for economists to guide policymakers on economic matters. He commended Dr Ahluwalia’s proficiency in this regard. He briefly discussed the evolving global geopolitical landscape, noting the paradox of growing trade between India and China amid border tensions, as well as their cooperation on Climate Change despite differing interests.

Dr Ahluwalia highlighted the interconnectedness of economic policy and diplomacy, both globally and domestically. He stressed that holistic reforms should extend beyond economic and financial sectors to encompass fields like the judiciary. While acknowledging India’s transition to a Middle Income Economy, he cautioned against the “Middle Income Trap,” advocating comprehensive growth to avoid setbacks caused by skill gaps and partial development.

Reflecting on India’s economic liberalization, Dr Ahluwalia underlined the need to adapt to rapidly changing sectors like technology. He spotlighted Climate Change, noting India and China’s alignment towards renewable energy and urging nations to transition away from fossil fuels.