While explaining how Bharat has historically advanced through hard work and enterprise rather than colonial exploitation, Maharashtra Chief Minister Devendra Fadnavis said, “At one point, it accounted for 35 per cent to 49 per cent of the global economy without resorting to invasions or colonialism. Bharat has always revered only those Kings who worked for the common good and welfare of ordinary people.”
Shri Fadnavis’s statement was made on the first day of the three-day World Hindu Economic Forum (WHEF) 2024 that was held at the Jio World Convention Centre in Mumbai, Maharashtra from December 13–15, 2024. It saw over 1,000 global delegates observing a moment of silence in tribute to the late Padma Vibhushan Ratan Tata.
Addressing a packed hall, Maharashtra CM Devendra Fadnavis emphasised that Mumbai is not only the financial capital of Bharat but is also on the verge of becoming the fintech capital. He discussed the importance of carrying out development in sync with Hindu ethos, contrasting Western civilisation’s “survival of the fittest” mentality with Hindu philosophy, which promotes community support and collective well-being.
Shri Fadnavis also discussed the economic models adopted post-Independence that led to the derisive label of ‘Hindu rate of growth,’ a term coined by Leftist economists for slow economic growth. However, he asserted that Bharat is now recognised as the fastest-growing large economy and is poised to become the third-largest economy globally. “This Hindu growth model has demonstrated that inclusive development is achievable, with its roots in the policies initiated by Atal Bihari Vajpayee and further advanced under Prime Minister Narendra Modi.”
Noting that Bharat’s growth is both transparent and inclusive, Shri Fadnavis said, while capitalism in many parts of the world has resulted in significant income inequality, Bharat has successfully lifted 250 million people out of poverty. “This showcases the effectiveness of the Hindu growth model as a global example.”
Looking ahead, Fadnavis stated that by 2030, Bharat aims to become a $5 trillion economy, with some forecasts suggesting a potential reach of $7-9 trillion. He expressed a commitment to make Maharashtra the nation’s first $1 trillion State economy by 2028-2030, emphasising that traditional business practices are no longer sufficient in an era marked by accelerated growth. To support this vision, an Economic Advisory Council has been established in Maharashtra to develop appropriate policies.
Shri Fadnavis encouraged viewing technological disruption positively, likening technology to a horse that we must learn to ride effectively for progress. He asserted that technology fosters inclusivity by treating all users equally and democratising access to services.
To achieve social harmony, he believes technology will play a pivotal role.
In his welcome address, Rajesh Sharma, Chairman of the Organising Committee WHEF 2024, highlighted the objectives of WHEF and emphasised the critical importance of wealth creation and entrepreneurship for community advancement.
Uttar Pradesh Chief Minister Yogi Adityanath, Goa Chief Minister Dr Pramod Sawant, and Gujarat Chief Minister Bhupendra Patel, were the key speakers.
Aatmanirbhar Bharat & ‘Ek hain to safe hain should inspire everyone in nation-building’
On the first Day of WHEF 2024, Goa Chief Minister Dr Pramod Sawant highlighted his State’s journey towards Viksit Bharat.
Dr Pramod Sawant, while delivering a compelling speech focusing on the theme “Goa Advancing Towards Viksit Bharat,” began by emphasising the importance of divine guidance in all endeavours, echoing Prime Minister Narendra Modi’s mantras of “Aatmanirbhar Bharat” and “Ek Hain to Safe Hain” (Safety in Unity), suggesting that these principles should inspire not only the forum but everyone involved in nation-building.
Dr Sawant narrated Goa’s unique journey from colonial rule under the Portuguese to Independence in 1961, which came much later than the rest of Bharat. Despite this late start, he proudly proclaimed Goa as the number one small State in terms of social development and GDP growth, as evidenced by its success in implementing the Prime Minister’s 13 flagship programmes.
While acknowledging Goa’s historical struggles under Portuguese colonial rule for 450 years, Goa CM expressed gratitude to Chhatrapati Shivaji Maharaj and Chhatrapati Sambhaji Maharaj for their roles in ending forced conversions and temple demolitions during that era.
Sawant highlighted his contribution in having renovated Saptakoteshwar Temple, originally rebuilt by Shivaji Maharaj, and dedicated it to the people of Goa. The Chief Minister noted that Goa is one of the States where Shivaji Jayanti and Shivaji Rajyabhishek are celebrated with great enthusiasm.
Reviving Bharat’s Civilisational Pride and Economic Power
In a spirited address, Uttar Pradesh Chief Minister Yogi Adityanath captivated delegates at the WHEF on December 14 by underscoring the convergence of tradition and development while elaborating on the transformation of Uttar Pradesh and its role in shaping a prosperous Bharat.
While speaking about the debilitating impact of foreign invasions and colonialism on Bharat, Yogi expressed concern over the fact that certain segments of society remain entrenched in a colonial mindset, attempting to undermine Bharat’s civilisational pride. He stressed the resilience of Bharatiya traditions, emphasising that Hindu civilisation has neither imposed itself on others nor wielded power through coercion.
He noted the unique privilege of being born in Bharat, a land that has long exemplified the ideals of Ram Rajya—a governance model devoid of natural, social, and intellectual sorrows.
Drawing from scriptures, Yogi Adityanath explained that Bharat has always been home to the four purusharthas—Dharma, Artha, Kama, and Moksha— and has cared for global well-being.
Yogi Adityanath underscored Bharat’s economic legacy, pointing out that it accounted for 40 per cent of global GDP on average from the 1st to the 15th century CE. He contrasted this with the economic decline during Islamic invasions and British colonial rule. However, we have witnessed a resurgence of Bharat’s economic strength under Prime Minister Narendra Modi’s leadership.
Yogi Adityanath credited Prime Minister Narendra Modi’s leadership for Bharat’s rise to the fifth-largest economy, projected to become the third-largest by 2027.
“The State’s GDP has soared from Rs 12 lakh crore to Rs 32 lakh crore during his tenure, and its per capita income, which was once a third of the national average, is now approaching parity. The One District One Product (ODOP) scheme, which promotes local industries like Bhadohi carpets and Moradabad brassware, has boosted exports to Rs 2 lakh crore annually,” he said. The Chief Minister highlighted the transformation of UP’s tourism and infrastructure sectors.
Yogiji highlighted Ayodhya and Kashi as examples of how heritage-driven development can boost tourism and economy. Pilgrimage sites are being renovated, and the upcoming Mahakumbh in Prayagraj is expected to attract 40 crore visitors. Law enforcement improvements have created a safer environment, fostering growth and investment in the State.
“Before 2017, Ayodhya had power for only four hours a day, and Kashi welcomed just 50 lakh visitors annually. Today, Ayodhya boasts four-lane roads, improved rail connectivity, an international airport, and draws over one lakh daily visitors, while Kashi attracts 16 crore pilgrims annually, benefiting the local economy immensely. UP’s pilgrimage sites, including Chitrakoot and Goswami Tulsidas’s birthplace, are undergoing significant renovations under the Chief Minister’s tourism scheme. The upcoming Mahakumbh in Prayagraj, is expected to draw 40 crore devotees, symbolising the State’s ability to merge tradition with modernity and boost the economy in the process.”
In Solidarity with Hindus
Notably, WHEF 2024 started proceedings on Day 2 with a plenary session on Bharat-Israel collaboration, where Kobbi Shoshani, Israel’s Consul General to Mumbai, expressed solidarity with Hindus facing persecution in Bangladesh.
Highlighting historical parallels with Jewish suffering, Shoshani called for urgent global action to address these challenges.
Sessions on Bharat’s Progress
Other sessions covered topics like “Capital Markets”, and AI’s transformative role in digital infrastructure, cybersecurity, and workforce development. Industry leaders emphasised the potential of Bharat’s electronics manufacturing, driven by initiatives like the Production Linked Incentive Scheme. L&T’s SM Sunderasan highlighted the semiconductor industry’s growth potential, stressing the need for domestic manufacturing to enhance security, reduce imports, and boost employment.
Discussions on sustainability focused on Bharat’s role in addressing climate change and promoting green technologies. Speakers highlighted the importance of carbon-negative energy, recycling, and hydrogen as a sustainable fuel. Policies promoting green ammonia and biomass valorisation were advocated as solutions for stubble burning by farmers and other threats to the environment. The forum also called for strategic support for CO2 refineries and innovative waste management systems.
Prof. Ganpati Yadav and industrialist Vikram Shroff said the country should trust its scientists and be wary of those foreign-funded NGOs and foreign governments who are spreading fake narratives and instigating agitations to hinder Bharat’s growth. Anything free is wasted, so we must incentivise recycling.
The forum also addressed Bharat’s progress in sectors like logistics, e-commerce and electric mobility. Speakers highlighted the indigenisation of electric vehicles (EVs) and the potential for job creation and wealth generation through local manufacturing. Bharat’s EV sector is rapidly expanding, with 1.9 million EVs already on its roads.
Remembering Sardar Patel
The final day of the World Hindu Economic Forum (WHEF) 2024 was a blend of historical reflection, economic insights, and discussions on future innovation. The day coincided with the punyatithi (death anniversary) of Sardar Vallabhbhai Patel, making it particularly significant. Swami Vigyananand, in his address, highlighted Sardar Patel’s monumental role in preventing Bharat’s disintegration post-Independence by effectively countering British colonial strategies concerning the princely states, and avoiding fragmentation akin to the USSR or Czechoslovakia.
Swami Vigyananand emphasised Sardar Patel’s economic contributions, noting his strategic portfolio management during the interim Government formed before Independence. His foresight about industrialisation being crucial for a nation was lauded. Swami Vigyananand attributed Bharat’s economic underperformance to Nehru’s policies, which heavily taxed industries post-independence, stifling private enterprise until PV Narasimha Rao initiated economic liberalisation in the 1990s.
Gujarat Chief Minister Bhupendra Patel also paid tribute, emphasising Patel’s legacy in fostering cooperatives and economic progress, which has inspired the visionary leadership of Prime Minister Narendra Modi. Bhupendra Patel spoke about the role of Gujarat as Bharat’s industrial and economic hub. The state accounts for over 30 per cent of exports and is poised to become a semiconductor and renewable energy hub, with three semiconductor firms under development and green hydrogen policies gaining momentum. Dholera was highlighted as an emerging logistics hub, and the state is the first to chart a roadmap for a developed Gujarat by 2047, aiming for a $3 trillion economy.
The Gujarat CM underscored Gujarat’s ability to attract investments, with Tata Motor’s move to open a car manufacturing plant in the State following challenges in Singur, West Bengal serving as a pivotal example. The State’s commitment to fostering entrepreneurship and its emphasis on safety, law and order, and ease of doing business were presented as models for other states. Gujarat’s vibrant industrial environment, combined with its cultural harmony and innovative policies, make it a vision for Bharat’s business future.
A session on “Transforming Bharatiya Agriculture” explored emerging challenges and opportunities. Topics included efficient value chains, organic business scalability, and policy interventions to address sustainability. Discussions also stressed the importance of empowering farmers to transition from being solely food producers to energy providers, highlighting biofuel initiatives.
The WHEF 2024 concluded by reaffirming its commitment to fostering collaboration and innovation to achieve common goals, aligning economic growth with sustainability and inclusivity.
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