India at 75

When the British left India after 200 years, it drained the country of resources worth according one statistics (Utsa Patnaik) $45 trillion. Today, after 75 years of its independence, we are struggling to become a $5 trillion economy.

- Buroshiva Dasgupta

In 1950, the per capita income of an average Indian was $60; today it is $2200. We still hold a lowly 158th position in the global 205 - in terms of per capita income. Yet, we must admit, we are back in the global race. According to another series of statistics (Ruchir Sharma) India is undergoing a “V shaped recovery” in its economy. India’s riches in terms of resources are phenomenal. That is why it attracted so many ‘invaders’ down the ages. Even in 1950s, just a few years after its independence, India with its depleted economy, in terms of GDP growth, stood at the sixth position in the world. In the 60s, 70s, 80s its position, in terms of GDP growth, was down to 13. In 2020, it is back to the sixth position. India’s rupee value, which was `4 against one dollar in 1950, fell by `75 in 75 years. But it is still competitive and cheap and continues to boost exports.