Senior economist Dr. Surjit Bhalla highlights how an India-US trade deal could accelerate India’s growth, urging reforms amid tariff pressure. Meanwhile, Omar Abdullah calls for reconnecting Kashmiri artisan to global markets. Their insights reflect India’s evolving economy, global ties, and cultural revival in the face of changing international dynamics.
In a moment of dual significance for India’s economic and cultural future, two prominent voices—former Jammu & Kashmir Chief Minister Omar Abdullah and leading economist Dr. Surjit Bhalla—have called for strategic actions to push the nation forward. While Abdullah emphasized the revival of Kashmir’s artisan heritage and its historic connection to international markets, Bhalla focused on the potential economic surge from a long-awaited trade agreement between India and the United States.
Reviving Kashmir’s Handicraft Heritage
Omar Abdullah, addressing a gathering of cultural stakeholders in Srinagar on Tuesday, made an emotional appeal for reviving the centuries-old linkage between Kashmiri artisans and the global marketplace. “Our artisans are the pride of Kashmir’s cultural legacy. We must reconnect them with international buyers and markets,” Abdullah said.
He stressed that while the government has undertaken initiatives like the GI tagging of products and the promotion of crafts like Pashmina, papier-mâché, and carpet weaving, a lack of global exposure and infrastructure has left artisans struggling.
“It’s not enough to preserve the craft; we need to revive its commercial power,” he added. Abdullah urged both the central and state governments to create sustainable export channels, e-commerce platforms, and global exhibitions focused on Kashmir’s handicrafts.
He also highlighted that reconnecting artisans to international demand could also act as a soft-power tool, enhancing India’s image globally while revitalizing regional economies.
Economic Boost Through India-US Trade Deal
Meanwhile, Dr. Surjit Bhalla, noted economist and former Executive Director at the International Monetary Fund, made headlines on Tuesday by asserting that a potential India-US trade deal could become a major catalyst for India’s economic growth.
Speaking exclusively to IANS, Bhalla explained, “If it happens, our growth could accelerate to a much higher level.” He added that pressure from the US, including deadlines for resolving tariff issues under former President Donald Trump, had inadvertently accelerated India’s long-delayed economic reforms.
“I don’t see them (US) as threats. In fact, the US and even Trump are doing us a favour by pushing us to reform,” Bhalla said.
Currently, Indian and American trade negotiators are working against the clock to finalize an interim trade agreement before the July 9 deadline, which would help India avoid proposed US tariffs on key exports.
A recent Financial Times report suggested that the agreement could be reached as early as this week, with expectations that it could lay the groundwork for a broader free trade agreement (FTA) by the end of the year.
India’s Economic Outlook: Room for More Growth
Bhalla also praised India’s current status as the world’s fourth-largest economy and the fastest-growing major economy. However, he believes India still has room to improve.
“Our growth rate of 6.5% is good, but we have the potential to reach 7.5% to 8.5%, especially with gains in productivity coming from improved education and healthcare,” he said.
Bhalla stressed that true economic progress must be measured by how close a country is to achieving its full potential rather than just looking at raw GDP numbers.
National Security and Economic Confidence
In addition to economic reforms, Bhalla also commented on the importance of national security initiatives like Operation Sindhu Sudarshan. “Defence is a core national priority. More defence spending leads to greater security and strengthens the economy,” he noted.
He believes such measures not only improve strategic preparedness but also boost investor confidence, laying the foundation for long-term economic stability.
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The simultaneous emphasis on cultural revival and economic modernization underscores a holistic approach to India’s growth story. As Omar Abdullah seeks to place Kashmir’s artisans back on the global map and Surjit Bhalla anticipates a new economic high through international trade, both leaders point toward an India that is grounded in its traditions yet focused on future potential.
