India is making its mark in the world

With the strength of its 1.4 billion people, and a government guided by PM Modi, India will stride on the path of development and reach its potential by the 100th year of Independence

India is in a rare moment of equilibrium. It has begun to reap its demographic dividend. Remnants of red tape and corruption that slowed down its rise for decades are waning. The stark inequality that shackled the democracy of 1.4 billion people has started to thaw. The global recession that could torpedo India’s growth plans pre-2014, now face a more resilient economy that has learned to pivot, and spin them into opportunities for growth. India’s economy is no longer at the receiving end of the global order but is in the fray of the world’s most powerful future economies, with an unmatched growth rate. The International Monetary Fund (IMF) says India and China will account for 50% of the total world gross domestic product growth in 2023, against 10% for the United States (US) and the Euro Zone.

What accounts for this optimism in India’s economy? The answer hinges on three umbrella approaches, 3Cs, that run as a common thread across sectors. The first is individual competitiveness, which begins by empowering those in need so that they can power the nation. Within this group, the government has placed its focus on two segments — young people (65%), and women (50%). This mandate is being carried out by every ministry through programmes designed for the two segments.