Union Culture Minister Gajendra Singh Shekhawat emphasized the need to integrate cultural capital into economic policy architecture during his keynote address at the Kautilya Economic Conclave in Delhi. According to reports from Business Standard, Shekhawat stated that while India has inherited extraordinary civilisational wealth, the greatest challenge is not what has been inherited but what can be created from that inheritance. He called for expanding the vocabulary of development to include cultural capital alongside physical, financial, human, and technological capital.
The minister outlined a comprehensive approach to development that protects heritage while enriching economic growth. As reported by Business Standard, Shekhawat stated that development must not destroy heritage that gives citizens and communities their identities, and heritage should not become an obstacle to legitimate aspirations for growth and prosperity. He advocated for a 'Vikas Bhi, Virasat Bhi' model where development and heritage are made mutually reinforced, creating a more sustainable model of economic growth.
Shekhawat emphasized that building a cultural economy requires collaboration beyond government alone. According to Business Standard, he called for partnerships between government, industry, universities, museums, technology companies, hospitality enterprises, local communities, entrepreneurs, artisans, economists, and cultural practitioners. The minister noted that while government can provide infrastructure, policy, standards, and institutional frameworks, culture ultimately lives in society through communities, organizations, families, artisans, and artists.
The minister outlined specific criteria for measuring the economic success of cultural capital development. As reported by Business Standard, he questioned whether cultural relationships are opening new avenues of international cooperation, whether manuscripts are opening new frontiers of research, whether heritage cities are generating local employment, and whether museums are becoming centres of learning and innovation. Shekhawat referenced Prime Minister Narendra Modi's 2023 G20 Culture Ministers' Meeting address in Varanasi, where Modi described heritage as an 'important asset for economic growth and diversification'.
