The Peerless Dream Of Five Trillion Dollar Economy

Vision and Preparation of the new India towards Self-Reliance 

The golden bird’s freedom from the irresolute cage in 1947 washed away the pain and strains suffered for centuries, but the dark spots on her body remained for decades. Her heart was sliced into pieces, her wings were wounded, her head couldn’t stand —she was left weaker than ever. However, the wind does change its course with time and time is the strongest of all.

Indians fought heroic wars and won. The world knows the history of the richest culture looted by invaders and the world knows how Indians fought and remained on the path of inclusiveness and development. What led to those difficult times of poverty, hunger, and social backwardness isn’t the question we should ask but a question would be how dedication changes the fate of a nation called India?

The eve of India’s Independence and the morning of 15th August 1947 is a part of incredible Indian history. The remaining day after that phenomenal morning showed the challenges, the economic crisis, the hunger, the backwardness, and the darkness people were left with. But they fought, the most resilient, the unconventional, and longest-running fight until the sun of valor returned diminishing the darkness of stand-alone nights. This was the new India — full of life, lights, and Passion to Change the World and lead upfront.

Indians are running the race of becoming self-reliant. The government decisions, policies, and funds are helping them with utmost determination. The role of private sector entities is vital and they are supporting small-scale entrepreneurs at every front; the distance between the finish line is diminishing as they are speeding up. The tremendous growth of Domestic Manufacturing, Pharmaceuticals, Information Technology, and the Textile Industry is matchless and self-explanatory.  ‘Make in India’ initiative standardized the manufacturing capacity in terms of quality and quantity. The production follows global standards, authentic quality, and utmost reachability. 

Prime minister Narendra Modi’s extensive drive is dedicated to the three Ds of economic development — Democracy, Demand, and Demographic Dividend. India envisions a five trillion USD economy and global economic powerhouse by 2026. The Reserve Bank of India estimates a growth of 9.5% GDP by the end of the 2022-23 financial year and the estimation of The International Monetary Fund(IMF) are similar. The COVID-19 pandemic may have slowed down the Indian economy but an undisruptive vision and dedication toward economic stability are boosted and better results are foreseen.

During the pandemic, India showed its pharmaceutical capabilities to the world. India was on the top list of countries manufacturing vaccines and helping the world in need. India’s phenomenal compassion toward the world is an extraordinary example of human cordiality. India’s Pharmaceutical Industry is the third-largest generic medicines provider. It was worth USD 42 billion in 2021.

The Indian economy is standing as a lucrative hotspot for financial investors worldwide. The government of India’s initiatives provides all the requisite provisions to boost the FDI(Foreign Direct Investments) in the country. They are making global design infrastructure, exclusive business locations, and all-around support. The duties have been cut off; the licensing and regulations have been made flawless. The government officials and authorities look into the projects and investments with keen eyes and support investors whenever and wherever needed. Every procedure of investment is made available online for better understanding and reachability. India is offering better corporate opportunities and business investment prospects to help entrepreneurs grow as the country grows to become the third-largest economy in the world.

The country with the Youngest population foresees a culture of innovations, entrepreneurship, and diversity. India has the fifth largest youth population with 90 percent of the people who can read and write. This fortuitous fact creates a plethora of opportunities and advancements for India’s Century to blossom like never before. The Indian demographic analyses present countless pictures of possibilities —the increased demands as the youth market triggers at the fastest pace, the most successful supply chain because of the youth entrepreneurs, and the most diverse society which is educated, analytical, and market-driven. Indian demographic dividend presents that India’s working-age population is comparatively higher than the dependent population making it the working economy.

The government’s decision to revise the education curriculum was an ace move. The education system is now more concise and comprehensive. The knowledge which encourages people to see the opportunities and educate themselves accordingly to a fruitful result is the core idea that the government wants to achieve. This approach to education is playing a key role in the nourishment, advancement, and development of people. The ease of internet access and smartphones are helping Indians to educate themselves and the government’s online education schemes for all age groups encourage everyone to eat the fruits of knowledge wherever they are. This is a new India working for its dreams, accessing knowledge, and creating the future.

Photo by amol sonar on Unsplash

India’s USD 276.37 billion Gross Value Added(GVA) agriculture sector(agriculture, forestry, and fishing) employ about 58% of India’s population. The agricultural future of India is going to increase consistently with the government focusing on providing innovative machinery, farmer loans without interest, higher farm rebates, and various innovative seed upgrades. Government schemes such as National Mission for Sustainable Agriculture(NMSA), Pradhanmantri Krishi Sichai Yojna(PMKSY), Gramin Bhandar Yojna, Livestocks Insurance Scheme, PMKSY, E-NAM, etc. are encouraging farmers to build a self-sufficient Indian agriculture sector. In the last two years, the agriculture sector has shown a growth of 3.6 and 3.9 percent respectively adding to India’s real GDP expansion of 9.2 percent in 2021-22. India will most likely achieve its goal of doubling the farm income in FY2022-23 as the investments in the agricultural sector are at their highest peak and inclined towards increasing as the year proceeds. There are in-depth researchers and scientists involved in making advanced seeds and advanced technology that will facilitate the sector. The genetically modified seeds, heavy-duty machinery, food safety, quality assurance mechanism, and all-around developed infrastructure will make sure we attend to our goal of becoming a five trillion economy by the financial Year 2025-26.

The foundation and the broadest pathways are ready and Indians are ready to run as fast as it would take to reach the dedicated destination of the self-reliant market, five trillion economy, paramount agriculture productions, a hundred percent education, and the world’s largest pharmaceutical industry. The centuries of Colonialism and Invaders are oldfangled, the seven decades of building foundations are well-done, the golden bird is flying higher towards the highest horizons into the sky as glorious India’s century awaits her welcome.  

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