Reform to Resilience: India’s Economic Liberalisation and the Sustainable Development Goals Agenda

Abstract

Economic reforms in India have been a critical driver of growth, transformation, and integration into the global economy since the early 1990s. While these reforms accelerated industrialisation, trade liberalisation, and financial expansion, their impact on sustainable development remains a subject of intense debate. This chapter examines the trajectory of economic reforms in India and their interlinkages with the three pillars of sustainability—economic, social, and environmental. It explores how liberalisation, digitalisation, taxation reforms, and green initiatives have contributed to achieving Sustainable Development Goals (SDGs) by fostering innovation, reducing poverty, and promoting renewable energy transitions. At the same time, the analysis highlights persistent challenges such as rising inequality, environmental degradation, and uneven regional development, which threaten the sustainability of growth. Using case studies on renewable energy adoption, financial inclusion through digital reforms, and the Goods and Services Tax (GST), the chapter provides a nuanced assessment of the successes and limitations of India’s reform journey. Finally, it emphasises the need for inclusive, equity-driven, and environmentally sensitive reforms to align India’s economic strategies with global sustainability commitments, particularly the 2030 Agenda for Sustainable Development.

Keywords:- Economic Reforms, Sustainable Development Goals (SDGs), Liberalization and Globalization, Inclusive Growth, Green Economy