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V-P Radhakrishnan: GDP Alone Can't Measure India's Development, Inclusion is Key to Resilience
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Moneycontrol•03-10-2026, 10:35
V-P Radhakrishnan: GDP Alone Can't Measure India's Development, Inclusion is Key to Resilience
- •Vice President CP Radhakrishnan stated that India's development cannot be solely measured by GDP, emphasizing that economic resilience depends on growth benefiting every citizen and region.
- •Speaking at the Kautilya Economic Conclave, Radhakrishnan highlighted that true resilience ensures no citizen or region is left behind, advocating for inclusivity alongside headline growth.
- •He cited financial inclusion initiatives like the Jan Dhan-Aadhaar-Mobile (JAM) architecture as examples of how social inclusion strengthens an economy's ability to withstand shocks.
- •Radhakrishnan noted that over 25 crore Indians have moved out of poverty in the last decade and praised the Goods and Services Tax (GST) for contributing to economic formalization.
- •He stressed the importance of women's participation, access to education, and economic opportunities, along with policymakers understanding ground realities and strengthening the research ecosystem for India's future resilience.
Key Questions Answered
Vice President CP Radhakrishnan stated that India's development cannot be measured solely by gross domestic product (GDP) and that true resilience requires ensuring that the benefits of growth reach every citizen and region without leaving anyone behind.
The Jan Dhan-Aadhaar-Mobile (JAM) architecture enabled wider financial inclusion and direct benefit transfers, which Vice President CP Radhakrishnan cited as an illustration of how social inclusion strengthens an economy's ability to withstand shocks.
India's economy recorded a real GDP growth of 7.8 percent in the April-June quarter of FY27, which is an increase compared to the 6.9 percent recorded in the corresponding quarter of the previous year.
