With a strong demographic dividend, a growing entrepreneurial ecosystem and a large domestic market, the time is right for India’s economy to soar.The world is expecting India to translate its potential into action.
If the economic liberalization of 1991 was a watershed moment for India, 25 years later India again stands on the threshold of another historic moment.
The World Bank and the International Monetary Fund both project a robust 7.5% growth for the country in 2016 and 2017.
Yet, India also faces challenges, including shrinking exports, an infrastructure deficit, barriers to business and stalled reforms.
If the pace of reform fails to pick up and improvement in the ease of doing business proves too slow, companies may look elsewhere.
As the government ensures that the benefits of the previous industrial revolutions reach all Indians, it should also prepare itself for the Fourth Industrial Revolution – a technological revolution that is changing the scale, scope and complexity of the opportunities and challenges that we face.
India’s leadership in innovating with technology continues to improve the country’s economic prosperity, civic participation and digital governance – engaging with its citizens, updating them on policies, resolving issues and connecting with them through live conversations.
This is an important inflection point for India, where it can ensure that its economic growth is more broad-based and socially inclusive, and also lead from the front on the Fourth Industrial Revolution to benefit its people and communities. With India taking on the G20 presidency in 2018, progress made now will define the country’s G20 leadership.
India- on the brink to take off or on the brink to fall ? –
The actions will decide the outcome- not only of the government but also of the citizenry.After all, government can launch sanitary campaigns and Swachh Bharat Mission – but it hardly can stop people from peeing – here , there and everywhere.It has to come from within , it has to come from the society.Government can only push you to run if the society is ready to run.For that , there need to change on our collective approach and the best possible solution is – change and change invariably begins at home.Thus the more appropriate question is – Not Indian but Indians – on the brink to take off or on the brink to fall ?