Bhubaneswar, July 9: India, having emerged as the fourth largest economy in the world showcasing remarkable growth and resilience, must strengthen its institutional framework and adhere to international standards practiced by developed nations to truly match global leadership, an eminent expert has said.
“While this achievement reflected the strength of the Indian market, innovation and demographic dividend, there was a need to strengthen our institutional frameworks.” Prof. (Dr.) Basanta Kumar Sahu, Professor and Head of Economics Division, Indian Institute of Foreign Trade (IIFT), New Delhi, said while delivering a lecture at the Institute of Business and Computer Studies (IBCS), faculty of management sciences of SOA Deemed to be University here recently.
Prof. (Dr.) Sahu was addressing the technical session of a Faculty Development Programme (FDP) on the theme ‘India’s Growth and Economic Challenges’
In his address, Prof. (Dr.) Sahu provided deep perspectives on development economics, sustainable growth and public finance. He also shared experiences of his global academic engagements and policy contributions offering a rich, multidimensional view of India’s growth trajectory.
He explored key areas such as trade, agriculture, risk coping strategies and inclusive development.
Prof. (Dr.) Ayasa Kanta Mohanty, Dean of IBCS, presided over the program. He underlined the critical role of higher education institutions in contributing to national economic dialogue and policy awareness.
Prof. (Dr.) Manoranjan Dash, Associate Dean of IBCS, also spoke on India’s transformation into the world’s fourth largest economy and the pressing need to address related economic challenges. The event was coordinated by Dr. Bibhuti Bhushan Mishra and Dr. Preeti Y. Shadangi while Dr. Dhruti Sundar Sahoo proposed the vote of thanks.
