Locate the many India’s Context
Context
This article gives a holistic picture of the current dynamics of India by explaining the important coordinates such as economy, society and foreign policy.
Economy
- Economic growth- India’s GDP will more than double over the next five-seven years. Currently, it is around $3.4 trillion; it will be about $8 trillion by 2030.
- Drivers of growth- The drivers of this growth will be: state-led investment in infrastructure; the consequential crowding in of private investment in various fields; and deepening connectivity.
- Factor Market reforms- Labour laws have already been simplified, the acquisition of land has been made easier and financial credit is increasingly accessible to small and middle-scale enterprises.
- Skewed economic growth- States in the southern and western parts of the country are growing at a faster clip than those in the north, northeast, and eastern regions.
- Give way to Remittance economy- The consequential differentials in economic opportunities and the availability of jobs will accelerate internal migration and deepen the “remittance economy”.
- Regional Nativism- Indian society is currently divided along the axis of caste, class, religion, gender and language. Migration might kindle regional nativism.
- Basis of foreign policy- India does not see the world through a binary, zero-sum lens. Its foreign policy is grounded on the catchwords, “multi-alignment” and “frenemies”.
- No deal to limit India’s flexibility- India will not accept any fetters that limit its flexibility to define policies on the basis of strategic necessity and/or economic interests.
- India’s stand on Ukraine war- It will remain “neutral” on Ukraine, it will continue to shop for discounted oil from Russia.