Reviving Kautilyanomics: A Vision for Modern India's Economic Future

Former IMF economist Sriram Balasubramanian emphasized the importance of 'civilizational confidence' for India's economic future, advocating for principles rooted in Kautilya's Arthashastra. This approach focuses on rule-based governance, sustainability, and inclusivity. He believes India's prosperity should draw from its intellectual heritage, blending traditional and modern economic strategies.

Sriram Balasubramanian, a former IMF economist, has underlined the critical need for 'civilizational confidence' to propel India's economic future. Speaking at Bharat Ki Soch in Delhi, he highlighted the significance of Kautilya's Arthashastra as a guiding framework, which emphasizes principle-led economic thought over prescriptive models.

Balasubramanian argued that India's economic strategy should embrace rule-based governance, a global perspective, and sustainable, inclusive growth. He described these facets as essential to 'dharmic capitalism,' a concept inspired by traditional Indian economic philosophy where prosperity and welfare are symbiotic.

He also stressed the importance of re-engaging with classical Indian texts to better shape current economic policies and sustain welfare through pragmatic solutions like formal labor arrangements. Balasubramanian believes merging traditional wisdom with modern practices could yield globally relevant economic progress for India.

(With inputs from agencies.)