PM Modi transformed ‘Brand India’: Sanjeev Sanyal reacts to Musk’s India visit

Sanjeev Sanyal on Musk’s India visit: Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister of India, in a conversation with Arnab Goswami, Editor-in-Chief, Republic Media Network, underlined the massive transformation in India's global standing. Sanyal highlighted several indicators that demonstrate India's newfound prominence on the world stage.

Sanyal said, “India's brand in the global market has completely changed and you can see the reflection of this in many things. Look at the fact that now we are included in the Global Bond Indices, the Stock market is at a time which is an indicator by itself. But if you combine it with the GDP growth rate of 8.4 per cent in the last financial year. This year is again expected at least around 7 per cent, making us again the fastest-growing economy in the world. And now you have the world's richest man coming to invest in the new India.”  

Moreover, Sanyal credited Prime Minister Narendra Modi for his instrumental role in shaping what he termed as 'Brand India.' He commended the Prime Minister's adept utilisation of platforms such as the G20 summit to portray India not merely as a rising power, but as a formidable force on the world stage. 

Sanyal said, “Prime Minister Modi is a very defining factor in the brand that India has built on a global stage and not only in the field of economics. Last year we hosted G20 and he used the entire G20 platform in a way that had never been done before. There were G20s before that and the G20 presidency currently going on but the way PM Modi used G20 to position India not as a rising power but as a power that has already arrived, is incredible and you are seeing that happen repeatedly.”  

Sanyal accentuated that India's transformation is not merely superficial branding but rooted in substantial economic achievements. He pointed to stable inflation rates, robust foreign exchange reserves, and a reasonably balanced current account as indicators of India's economic resilience in the face of external uncertainties.

The leading economist said, “You are seeing Elon Musk coming in and announcing major investments, you can see that the world’s perception of India has fundamentally changed. With all of this change in the brand, the economic performance of 8 per cent growth has been achieved especially when the rest of the world was entirely unhelpful. The global growth has been tottering for the whole time, we have wars in two parts of the world at least. And without the help of the rest of the world, we have been generating these growth rates and that too without any economic instability.” 

“Our inflation is not blowing up, our forex reserves are in decent shape our current account is in a reasonable place. So this is not just branding, it is based on actual performance,” added Sanyal.