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Abstract

The world is undergoing a period of intense and overlapping change, marked by six simultaneous global transitions—geopolitical, geoeconomic, technological, environmental, demographic, and institutional. These shifts are creating an atmosphere of uncertainty, with traditional frameworks being rapidly upended. As global power equations are recalibrated and new challenges emerge daily, the need for adaptive and forward-looking policymaking has never been greater. The impact of these transitions is particularly significant for India, home to over 800 million young citizens whose aspirations hinge on how effectively the country navigates this moment.

India now finds itself at a critical crossroads. It has a unique opportunity to shape the trajectory of these transitions to its advantage, but only if it adopts a bold and innovative approach. Business-as-usual is no longer viable. A new policy paradigm—flexible, inclusive, and collaborative—is urgently required. India must also lead efforts to forge a ‘Coalition of the Willing’ across the Global South to address shared concerns such as climate action, strategic autonomy in a post-Pax Americana world, and the adoption of frontier technologies like AI.

About the Speaker

Dr. Rajiv Kumar, former Vice Chairman of NITI Aayog, recently resumed his chairmanship of Pahle India Foundation, a not-for-profit policy think tank, established by him in 2013. Dr. Kumar’s career has spanned academics to government to corporate chambers and multilateral institutions. The wide range of experience, combined with his intellectual depth, as reflected in his substantial publication record, gives him a unique multi-dimensional perspective on the Indian economy.

He served in the government as Economic Advisor with the Department of Economic Affairs (Ministry of Finance) during 1991-1995 and took over as Vice Chairman of NITI Aayog in September 2017, with the rank of Cabinet Minister and served until April 2022. His stints with the corporate sector include serving as Chief Economist of the Confederation of Indian Industries (CII) from 2004-2006 and later as Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI), 2011-2013.

Dr. Kumar holds a Ph.D. in Economics from Lucknow University (1978) and a D.Phil. from Oxford University (1982). Several universities have honored him with an honorary D.Litt. degree. On April 29, 2023, Dr. Kumar was awarded the Order of the Rising Sun, Gold and Silver Star of Japan during the 2023 Spring Conferment of Decorations. This prestigious honor was bestowed in recognition of his significant contributions to enhancing economic ties between Japan and India.