India’s resurgence gained momentum with the emergence of visionary leaders who recognized the need for holistic transformation in India. Manu Shrivastava cites Prime Minister Narendra Modi’s example, whose visionary approach has rekindled hopes of India reclaiming its position as a global powerhouse.
India stands on the precipice of a remarkable transformation. As it emerges from the shadows of its past, India is positioning itself to become a true global leader. The journey has not been without its challenges, but under a visionary leadership, the country is experiencing an unprecedented resurgence.
From its thriving economy to its impressive reduction in poverty rates, India’s progress is nothing short of extraordinary. Her economic growth has propelled the nation onto the global stage, inviting opportunities and fuelling optimism for both domestic and international investors.
India’s journey began with the country gaining independence from British colonial rule in 1947, marking a new era of hope and opportunities. However, the initial years were marred by economic challenges, political instability, and social unrest.
Despite these obstacles, India has made significant strides. The first few decades saw the establishment of robust democratic institutions, technological advancements in various sectors, and a growing middle class hungry for change. The nation’s diverse population demonstrated resilience and determination to overcome adversity.
However, as India aimed to assert itself on the global stage, it faced stumbling blocks along the way. Economic reforms in the early 90s kick-started a process of liberalisation but also exposed vulnerabilities within the system. Corruption became rampant, hindering development initiatives and eroding public trust.
Leadership matters
The resurgence gained momentum with the emergence of visionary leaders who recognised the need for holistic transformation in India. Prime Minister Narendra Modi, for example, with his visionary approach has rekindled hopes of India reclaiming its position as a global powerhouse.
Since assuming office in 2014, PM Modi has exhibited remarkable vision, determination, and leadership, propelling India towards greatness on the world stage. His unwavering commitment to economic reforms has been a cornerstone of his leadership.
Initiatives such as ‘Make in India’ and ‘Digital India’ have successfully attracted foreign investment and promoted entrepreneurship, bolstering economic growth. Focus on financial inclusion has brought banking services to millions of previously unbanked individuals, promoting economic empowerment at all levels of society.
A proactive approach to infrastructure development has given a significant boost to India’s connectivity and growth. Ambitious projects like ‘Bharatmala’ highway network and ‘Sagarmala’ port development programmes have not only improved transportation and logistics but have also catalysed job creation across diverse sectors. Infrastructure projects like smart cities and renewable energy ventures have added further impetus to employment prospects.
There has been a display of exceptional diplomatic acumen by India, by actively engaging with nations across the globe. Bilateral ties have strengthened while promoting Indian interests on international platforms. The government’s dynamic foreign policy approach has fostered alliances with countries like Japan, Israel, and Arab nations paving the way for collaborations in areas such as technology transfer, defence cooperation, and energy security.
Innovation and technology
India presents an enormous market and a vast pool of talent and resources. Its economic growth rate has been consistently impressive, surpassing many developed countries. The key driver of India’s thriving economy is its diverse industrial sector. From manufacturing to services, India has witnessed exponential growth in various sectors such as information technology, pharmaceuticals, automotive, and textiles. Diversification has resulted in increased productivity, job creation, and inflow of foreign investments.
India’s economic success story is a result of innovation and technological advancement. The country has become a global hub for research and development in fields like software development, biotechnology, and renewable energy. Indian companies are at the forefront of innovation globally, delivering cutting-edge solutions that address complex challenges.
India has also positioned itself as a major player in international trade. The government has implemented policies that promote exports while simultaneously attracting foreign direct investment into the country. This approach has resulted in a significant rise in both imports and exports across sectors like engineering goods, pharmaceuticals, chemicals, agriculture products, and IT services.
Emerging sectors in India are creating new avenues of employment that were unimaginable just a few years ago. The tech industry, for instance, has experienced exponential growth, with Bangalore now being hailed as the Silicon Valley of India. This technological boom has generated an array of job opportunities in fields like software development, artificial intelligence, data analytics, and more.
Beyond industry, another crucial contributor to India’s formidable economic progress is its thriving service sector. The country has become a hub for outsourcing services in areas such as software development, customer support, digital marketing, and financial analysis. With favourable government policies and a large pool of educated professionals proficient in English, India has successfully positioned itself as an attractive destination for international companies seeking cost-effective solutions without compromising quality.
Trade and commerce
The dynamic nature of the stock market has been instrumental in propelling India towards economic success. The Sensex, comprising 30 of India’s top-performing companies, showcases the strength and resilience of Indian businesses across various sectors. With each surge in its value, investors from around the globe are drawn to India, recognising its potential for high returns and long-term stability.
The government has implemented several progressive policies aimed at attracting foreign investments and bolstering domestic industries. These reforms have created an investor-friendly environment promoting innovation, entrepreneurship, and sustained economic growth.
India’s consistent push towards digitisation and technological advancements has played a vital role in driving up stock market indices like the Sensex. The rapid expansion of digital infrastructure across urban and rural areas has opened doors for countless businesses to thrive in an increasingly interconnected world. From fin-tech start-ups revolutionising financial services to e-commerce platforms transforming retail markets, India is at the forefront of leveraging technology for economic progress.
This promises a plethora of opportunities for job seekers. The country’s thriving job market is attracting talent from various sectors both nationally and internationally. It is being aided by a relentless focus on skill development and entrepreneurship. Initiatives such as ‘Skill India’ have been instrumental in bridging the gap between education and employment, equipping millions with the necessary skills to thrive in an ever-evolving global economy.
India’s economic growth has been nothing short of remarkable, propelling the nation towards becoming a global leader. Over the past decade, India’s GDP has experienced a steady upward trajectory, showcasing its potential to surpass even the most developed economies in the world.
The agricultural sector is one of the most important ones in India. Advancements in agricultural technology have paved the way for increased productivity and efficiency. Improved irrigation techniques and better access to credit facilities have significantly contributed to enhanced yields and food security.
The road ahead
As India stands on the brink of becoming a global leader, the road ahead is paved with immense opportunities and challenges. The nation’s journey towards global leadership requires sustained progress in multiple spheres, including infrastructure development, education and innovation, sustainable growth, environment protection, and diplomatic relations.
Ambitious projects like Bharatmala and Sagarmala, aim to transform India’s transport and logistics sector. The development of smart cities across the nation is another crucial aspect of India’s path to world leadership. India is nurturing a pool of talented individuals and leaders for the future. There is also a sustained focus on research and development.
India’s path to world leadership also necessitates a commitment to sustainable growth. By prioritising renewable energy sources and adopting greener practices, India aims to lead the way in reducing carbon emissions and combating climate change. India is also forging strong diplomatic relations with nations across the globe. By actively engaging in multi-lateral organisations like the United Nations and BRICS (Brazil, Russia, India, China, South Africa), India is playing an active role in shaping global policies.
Manu Shrivastava is a journalist and lawyer with DraftCraft International and Co-Convenor of #TheWomanSurvivor, #MeTooAtHome and #MeTooBeyondBorders initiatives.