Deepak Dwivedi
SEVEN years ago in Davos, Prime Minister Narendra Modi had spoken of India’s ambitions to become a $5-trillion economy by 2025. Despite Covid-19 epidemic, two calamitous wars and global headwinds, the Indian economy is projected to be around $4.27 trillion this year, according to the International Monetary Fund – just $0.73 trillion short of PM Modi’s target. India is set to add $1 trillion to its GDP every 18 months over the next six years, marking a rapid economic transformation, according to a report by IDBI Capital. With this momentum, the country is well on track to become a $10-trillion economy by 2032, positioning itself as the world’s third-largest economy by 2030.
The belief in India’s unstoppable growth outlook was shared by all members of the country’s largest-ever delegation to the World Economic Forum annual event in Davos. Union Minister Ashwini Vaishnaw, led the Indian delegation, with five Union ministers, three state Chief Ministers and several ministers from states, besides Government officials and civil society members. Cutting across party lines, all of them spoke with one voice to promote India’s growth story. Even when they compete with each other for investments and other resources, the leaders spoke in unison putting aside the competitive mindset.
Vaishnaw said that trust and talent were the two key factors which attracted investments from the rest of the world to India, adding that ‘Team India’ bagged investment commitments worth Rs 20 lakh crore in Davos. The team showcased its potential across two pavilions with all states and Central Government departments sharing space.
A joint press conference was also held for the first time, comprising state and Union ministers from various political parties. “We may be different political parties within the country, but we are all one when we came to Davos,” Andhra Pradesh Chief Minister and a key constituent of the BJP-led NDA Government in New Delhi, told the press conference.
Maharashtra Chief Minister Devendra Fadnavis (BJP), Telangana CM Revanth Reddy (Cong) and senior ministers from Tamil Nadu (DMK) and Kerala (CPM) state governments echoed the same ‘Team India’ sentiment.
Maharashtra emerged as the leader, securing nearly 80 per cent of the total investments, with the state signing 61 MOUs worth Rs 15.70 lakh crore (US$ 181.76 billion), potentially creating 16 lakh jobs. Other states like Telangana, Kerala, and Uttar Pradesh also secured significant investments in data centres, green energy, and Fast-Moving Consumer Goods (FMCG) sectors.
What global investors witnessed at WEF 2025 in Davos was a rare spectacle of Union and state governments ruled by different political parties, sharing the same platform and speaking in the same voice for the same target of a Developed India. At the instance of PM Modi, several departments of the Union and State Governments had showcased their potential in an integrated pavilion. It underlined the Prime Minister’s vision of India’s growth model combing both ‘cooperative and competitive federalism’.
For India to achieve its goal of becoming the world’s third-largest economy, every state must grow. India’s message at Davos was loud and clear – India is a country with great diversity, but its collective strength adds to the allure of shining India. We are competing and complementing each other for nation building under the ‘India First’ vision of Prime Minister Narendra Modi.
