Economically, India is in a great position given the geopolitical situation today
The Indian government has astutely navigated the changing global scenario during the Russia-Ukraine war and has continued to buy oil at a discount from Russia despite sustained pressure from the US.
The country’s forex reserves are healthy, inflation is manageable and increased infra spending has been doable despite many policy and cultural roadblocks.
But is it all rosy?
Many economists would argue that growth has not been equitable, especially post the pandemic, which upended many livelihoods. Many others believe that we are not measuring growth in per capita terms, where the picture is slightly less ambitious.
Consumer demand in the FMCG and auto industry is dwindling, the corporate sector is seeing sluggish if not dwindling profits.
Can the Indian economy grow at the estimated 7.6 per cent over the next two-and-a-half decades to become a high-income country?
All projections suggest that we have a long way to go and grow to achieve the target in 25 years.
Economic policymaking, infrastructure development, law and order and general pacifist times societally, all will have a bearing on the country’s growth prospects over the medium to long-term.
Concerted efforts are needed to make this a reality.
At the time of writing this, another communal flare-up has been witnessed in the north apart from ongoing tensions in the north-east.
A country and its economy just cannot grow in the exclusion of such events.
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