- Former CJI Shri Sanjiv Khanna pitches for stable long-term tax policies to push economic growth;
New Delhi, 8th October, 2025: From the podium of India’s Top platform for discussions on critical economic & fiscal matters – ‘TIOL Tax Congress’, world-renowned economists Lord Nicolas Stern, Shri N. K. Singh and Dr. Shankar Acharya agreed upon creating a long-term cooperation mechanism between Asia and Europe to thwart Trump administration’s attempt of dismantling global trade order using tariffs as a threat.
Engaging in a lively discussion during the event held at Hotel Taj Palance in New Delhi in the late evening yesterday, replying to a question from 15th Commission Chairman & moderator Shri N. K. Singh on how India should tackle fiscal & economic challenge in the uncertainty created by USA’s policies, Lord Nicolas Stern pitched for close cooperation between Asia and Europe.
Recalling his close relationship with India and current turmoil created by Trump’s tariff war, acclaimed economist Lord Nicolas Stern said that India should not only build fiscal resilience for next 20 years, but also consider close cooperation with countries like UK and broader Europe to counter any threat emanating from uncertainty in USA. Lord Stern also warned about another pandemic in next two decade and cautioned India to build resilience for same.
While pitching for traditional fiscal & economic norms adherence, noted economist Shri N K Singh nodded in agreement that cooperation between Asia and Europe is not only needed to tackle temporary events in USA, but also has the potential to shape global trade order.
Agreeing with his fellow penalists, India’s longest serving Chief Economic Advisor Dr. Acharya said, “The world is full of uncertainty. He’s (Trump) has closed all the norms of the MFN regime, and I think nobody really knows how it’s going to be solved. But….we can have more trade agreements like FTAs.”
Earlier speaking after award ceremony, the Chief Guest former CJI Justice Shri Sanjiv Khanna pitched for stable taxation policies as an essential part of ‘Ease of doing business’. He said that with all the levers of growth in favour of India, she could not afford to be over-dependent on services sector. India needs to drive up manufacturing activities, and for that stable taxation policies are essential to ease of doing business, resolving disputes and ramping up investors’ confidence.
On the occasion, Dr. P. Thiaga Rajan, Minister of IT & Digital Services congratulated TIOL for 25th Anniversary and praised Dr. Shailendra Kumar’s leadership saying that it is difficult to successfully establish a start up in India, and all the more difficult to sustain it for 25 years!
Earlier speaking during a technical session on AI, Shri Sanjay Bahadur, Member-CBDT, Ministry of Finance, Government of India said that AI is going to play a role of enabler and services of professionals and experts will still be required.
Shri M. K. Sinha, CEO, GST Network assured the audience that GST infrastructure will remain a work-in-progress, and will keep on improving and reforming as per market and citizens’ feedback.
Speaking after ‘TIOL National Taxation Awards’, former Chief Justice of Tanzania Justice Mohamed Chande Othman and Ambassador of Republic of Tanzania in India H.E. Anisa Mbega shared commonalities between experience of Tanzania and India and advocated that two countries will broaden the area of knowledge sharing and cooperation.
Members of Nepal Chapter of Knowledge Foundation Economist and mentor Dr. Bishwambher Pyakuryal, Smt. Bhawani Rana and Shri Madhu Kumar Marasini promised to replicate the success of TOIL Awards & Congress in Nepal.
The other eminent personalities who shared his views on the occasion included Shri N. Venkataraman, Additional Solicitor General of India, Shri Shashank Priya, Member (GST), Ministry of Finance, Shri Shailesh Haribhakti, Economic Thinker, Shri Rajesh Jindal, Principal DG (Systems), CBIC, Dr. Sanjay Bahl, DG, CERT-IN & Controller of Certifying Authority, Shri Ajay Vohra, Senior Advocate, Supreme Court of India, Shri Pramod Kumar, former Vice President, ITAT, Shri Sumit Dutt Mazumdar, former Chairman, CBEC, and Justice Shiva Kirti Singh, former Judge of Supreme Court of India and the Chairman of the Jury for TIOL Awards.
Coinciding with Silver Jubilee of TIOL, a book titled ‘‘The COB (Web) Turns Twenty: 60 Tales of Intaxicating Tales’ written by seasoned Journalist, Author and Chairman of TIOL Knowledge Foundation Mr. Shailendra Kumar was also launched.
Reflecting on awards and the congress, Mr. Shailendra Kumar, Chairman of TIOL Knowledge Foundation, said, “It was our privilege of honouring legendary experts in the field of economics and fiscal matters & legend like Late Lord Meghnad Desai, Lord Nicolas Stern, Shri Vimal Jalan and Dr. Shankar Acharya this year. Our jury consisting of eminent jurists and economists is raising the bar with each passing year. As we mark our Silver Jubilee, this year’s Tax Congress provided a platform to noted personalities from the field of taxation, fiscal & economic policy making, judiciary, bureaucracy and corporate to deliberate and debate pressing matters affecting daily lives of ordinary Indians. With two new categories of awards launched this year, we are committed to return to next year with fresh set of topics and galaxy of global personalities to deliberate on evolving global issues affecting our lives.”
