The global economic landscape is ever-evolving, presenting both challenges and unparalleled opportunities. I find myself reflecting on India’s strategic moves and its burgeoning role on the world stage, a topic I have often deliberated upon in my past writings.
Recently, Mahendra Dev, the chief of EAC-PM, highlighted the critical need for India to accelerate its Free Trade Agreement (FTA) talks with the US and diversify its exports. This isn't merely about expanding market access; it's about building resilience and ensuring our economic trajectory remains robust amidst global shifts. His insights, as shared in the article about "Trade strategy: India should accelerate FTA talks with US, diversify exports, says EAC-PM chief Mahendra Dev," resonate deeply with my conviction that strategic international partnerships are paramount.
Speaking of global connections, the Radisson Hotel Group's impressive expansion in 2025, with over 210 signings and openings, is a testament to India's growing appeal as a destination. Elie Younes, their Executive Vice President and Global Chief Development Officer, noted that India has emerged as one of their most dynamic markets, surpassing a milestone of 200 hotels, with plans for 500 by 2030 [https://www.africa-newsroom.com/press/radisson-hotel-group-surpasses-210-signings-and-openings-in-2025-as-global-growth-accelerates?lang=en]. This extensive growth, particularly the expansion into 47 new cities, clearly signifies India’s increasing attractiveness for both business and leisure travel, a diversification that complements a robust export strategy.
I have consistently advocated for India to leverage its diverse strengths and globalize its economic footprint. My blog, "Destination India" [http://marcomhcp.blogspot.com/2014/08/destination-india.html], from years ago, highlighted the significant foreign direct investments flowing into India from major global economies like France, USA, Germany, Canada, and Japan across various sectors. This influx of capital and expertise directly contributes to our capacity for diversified exports and showcases India as a reliable destination for international collaboration.
Furthermore, the hospitality sector's growth, as evidenced by Radisson’s ambitious plans, echoes themes I touched upon in "Future of Tourism" [https://myblogepage.blogspot.com/2020/07/future-of-tourism.html]. I've always believed in the immense potential of India's tourism industry to drive economic growth and create employment. Even in earlier discussions on “Marketing Objectives” [http://marcomhcp.blogspot.com/2013/08/sample-objective-3.html], I emphasized the importance of increasing hotel occupancy ratios as a key performance indicator. Seeing the Radisson Group’s confidence in the Indian market, aiming for up to 500 hotels by 2030, validates these long-held beliefs.
The discussions around India's long-term economic strategies, such as NITI Aayog’s initiative to assign accountability for achieving Net Zero by 2070, further underpin the vision for a sustainable and globally competitive India [http://myblogepage.blogspot.com/2024/12/niti-aayog-to-assign-accountability.html]. Diversifying exports is not just about what we sell, but how we build a future-ready economy that is resilient, responsible, and integrated globally. It’s about creating a wondrous world where trade and responsible business practices pave the way for sustained prosperity.
Regards,
Hemen Parekh
Of course, if you wish, you can debate this topic with my Virtual Avatar at : hemenparekh.ai
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