On the 76th anniversary of India’s independence, Prime Minister Shri Narendra Modi has set an ambitious goal of making the country a developed nation by 2047 and renewed his call for reducing import dependence and increasing domestic manufacturing. Mr. Modi addressed the nation from the ramparts of the Red Fort, outlining the country’s vision for achieving five resolves (panch pran) until 100 years of freedom, which includes, making India a developed nation, unity, removing colonial mindset and slavery, pride in Indian roots, and a sense of duty among citizens.
PM’s resolve is historic and urgent in changing India with the times. As we celebrate our 76th year of independence, we must remember that the strength and character of our people are what make us a vibrant and strong nation. The India of today is distinct from the India of the past, and the India of the future will be as well. There is an underlying fabric of togetherness that emanates from our collective consciousness and sense of shared being that we all share as Indian citizens.
Today, we must remember that the world is not without flaws. The global rules of engagement differ depending on the Nation’s military might, geopolitical influence, economic prowess, and trade relations. In today’s world, economic and military strategies are not two distinct entities, but rather two sides of the same coin. The country that becomes prosperous will eventually become more powerful. India is in sweet spot and on the cusp of next big economic leap towards $5 trillion economy. However, one of the biggest challenges it faces is the presence of hostile neighbours. The security of our territories, maritime security, space assets, and economic and geopolitical interests are all dependent on our national strength.
On the Global side, World is gripped with the fear of nuclear weapons. Since end of the cold war, Thousands of Nuclear warheads are on high alerts, and it will not be unreasonable to assume that Artificial Intelligence is playing a critical role in real time decision making.
The great game of geopolitics is being played, between US, Russia China and it impacts us and the rest of the World. India’s actions today will determine country’s future security.
Russian invasion of Ukraine, China’s belligerent posture and threat to annex Taiwan, global supply chain disruption, localisation of supply chain between blocks of friendly nations, fostering of new military alliances in pacific and Europe are signalling transition of once in a lifetime geopolitical shift which equally offers big opportunities for India. Future of economies will be dependent on the level of influence countries exercises in geo-political matters. If US dominance diminishes it is bound to give way to greater Chinese and Russian influence in world economies and vice versa.
On the financial side, decentralised finance is emerging as a market defining events. Dominance of global messaging platform Swift is under pressure from some of the DeFi tech and coins such as Ripple. Countries are on the way of testing their own CBDC.
Since independence, India has faced numerous challenges and adversities while also experiencing numerous moments of joy. Many of the events have left a permanent scar on our common fabric, but many have laid the groundwork for future India. We began with partition and have come a long way in achieving means to secure India’s defence, economic, and social needs. We began our journey by constructing the first nuclear reactor, Apsara, in 1956 and completed Pokhran II in 1998. During this time, we embarked on sophisticated space programmes such as Mission Shakti and Chnadrayaan 2, all while overcoming the trials of war with China and Pakistan, the liberation of Bangladesh, and the Kargil War in 1999. Shri Narendra Modi Government has carried out exemplary work in building Indi’s image as a strong Nation and laid the foundation for making India as a manufacturing hub for the World.
On the economic front, one of the great achievements has been our entrepreneurs’ ability to create many World-class enterprises despite the inherent chaos and madness of the ever-changing ecosystem. These reforms have been backed up by political decisions, often by choice but sometimes by compulsion. This includes Green Revolution reforms, bank nationalisation, and economic opening in 1991 as a result of the economic impact of the USSR’s disintegration on India.
Furthermore, Morarji Desai becoming the first non-Congress Prime Minister in 1977 and the formation of the first BJP government in 1998 were two key political events that marked a decisive shift in political orientation in the nation’s conscience.
The 1991 reforms, compelled by economic crises, marked a watershed moment in modern Indian history. Many large organisations vanished as a result of the economy’s opening, but it truly unleashed the animal spirit of our businesses. These reforms were critical in laying the groundwork for modern India. In the last thirty years, India’s economy has surpassed that of the United Kingdom and France to become one of the world’s largest, with a GDP of nearly $ 3 trillion.
Several of the challenges we face today were unthinkable a few decades ago. Climate change, global warming, global disparity, challenges arising from an interconnected digital world, space weaponization, and global trade imbalance are just a few of the issues that require immediate attention. These are not localised issues, but rather global challenges. Our leaders have been entrusted with a public mandate to perform the best possible duties in a fiduciary capacity in the national interest and to pass the baton to the next generation. We must build a strong future based on equality, economic prosperity, and a greener mother earth.
We have arrived at a crossroad, where we have the opportunity to build a future that is more just and equitable to our brothers and sisters.
Today is also a monumental day for Galactik Views, as it completes first year of Journey on the 76th anniversary of India’s independence. Galactik Views resolves to embarks on an everlasting journey of advocating and promoting equitable, transparent, democratic, free, and greener societies.
Jai Hind
Team Galactik Views
15th August, 2022