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Indian Express
2 days ago
- Business
- Indian Express
For a $5 trillion economy, India must embrace cutting-edge tech
The Indian economy is on the threshold of crossing another milestone and becoming the fourth-largest in the world. It is a commendable achievement for a country that began its journey as an independent nation in 1947 with a meagre $33-billion economy. Decades of British exploitation left it significantly weakened and poor. The Jawaharlal Nehru government's Soviet-style central planning, while promoting heavy industries and the public sector, led to low economic growth of 3-4 per cent, pejoratively described as the 'Hindu rate of growth'. In 40 years, it could only reach the $266 billion mark. The first major leap came in 1991 when the Narasimha Rao government introduced economic liberalisation and unleashed the potential of Indian entrepreneurs. The opportunity offered by the digital revolution with the introduction of the internet was quickly seized by some of India's brightest tech entrepreneurs. The Indian economy grew manifold in the next two decades on the strength of its services economy, which contributed 60 per cent of the nation's GDP. The economy crossed $2 trillion by the time the Narendra Modi government came to power. The last 10 years have seen the Modi government giving greater emphasis to faster economic growth through programmes like Stand-Up India, Start-Up India and Make in India. The results are there to see. IMF data from May has projected that the Indian economy will overtake Japan this year, reaching the $4.19 trillion mark. Japan was once a $5.8 trillion economy but has shrunk to $ 4.18 trillion due to stagnation and slow growth rates since the 1990s. As India demonstrated promising growth, naysayers rushed forward to raise the hollow bogey of per capita income. Per capita income is determined by factors like the size of the population. India is the world's most populous country. As a result, whatever may be the size of GDP, its per capita figures are bound to remain low. No country's growth can be measured on the criterion of per capita income alone. Although the US is the world's largest economy with a $28 trillion GDP, it ranks seventh in per capita. China, the second-largest economy with $18 trillion, ranks 69. The per capita argument is worthless because even if India becomes the world's largest economy with $30 trillion, it will still be ranked 55th in terms of per capita. The only merit of this argument is that the country should be able to provide better living standards to all its citizens. In democracies, the fruits of economic growth percolate to all sections of society. This is reflected in the consumption patterns. Surveys indicate that the monthly per capita expenditure (MPCE) has increased in India by more than 2.5 times in the last 10 years. Interestingly, most of this expenditure was on travel, health and education, indicating healthy growth parameters. Tourism has seen remarkable growth in the last 10 years. China still occupies the first rank in the number of domestic and international travellers. India lagged in this sector for decades due to a lack of disposable income and tourism infrastructure. But today, with the incomes of the middle class growing substantially, Indians have started travelling more. Data indicates about 2.5 billion domestic tourist visits last year. Figures for 2024 indicate that almost 29 million Indians travelled abroad marking a 30 per cent growth. All this indicates healthy economic growth, which has led to the near eradication of baseline poverty and the creation of a strong middle class with disposable income. The Modi government aspires to take the economy to further heights with targets ranging from $ 5 trillion in 2027 to $10 trillion in 2035. The current impressive growth is a result of corrective measures taken by the government. It removed parallel economy, allowed proper distribution of wealth and encouraged greater consumption. But the path from here needs to be calibrated carefully. Economies grow on the strength not just of consumption but also trade and technology. Quality, quantity and speed are the main determining factors. India and China were leading economies until the middle of the 18th century. But when the industrial revolution occurred first in England and later in America, those two countries surged ahead and became leading economic powers by the dawn of the 20th century. When automation and digitisation progressed in the last decades of the last century, China moved ahead of the curve, emerging as the second-largest economy by 2008. We are now in the post-manufacturing and post-digital era. Growth in frontier technologies will determine a country's economic future. A country of India's size and capability cannot just think perpetually in terms of catching up with the developed West and the rest. It has to, instead, think in terms of moving ahead of the curve. We missed the first two industrial revolutions as we were a slave nation at that time. We benefitted partially from the third, digital revolution of the 1980s and '90s and became a leader in sectors like IT services. But the Fourth Industrial Revolution, led by Artificial Intelligence (AI), quantum technologies, robotics, space, defence, crypto and bio-engineering calls for new thinking and new priorities. The impressive growth of the Indian economy in the last decade was largely due to the unleashing of its basic potential. The trajectory from here should be more strategic, with greater emphasis on deep-tech R&D, an area in which we lag. It is important to create a climate of hassle-free access to investments in these areas. Only then can India aspire to achieve its goal of becoming a $10 trillion economy in the next 10 years. The writer, president, India Foundation, is with the BJP
Time of India
14-05-2025
- General
- Time of India
Class X supplementary exams in Andhra Pradesh from May 19
Visakhapatnam: Visakhapatnam district education officer (DEO) N Prem Kumar announced that the class 10 advanced supplementary examinations will be held from May 19. In an official statement issued on Wednesday, he also mentioned that open school class 10 and intermediate examinations will be conducted during the same regular students, the exams will be conducted across 27 centres in the district, from May 19 to May 28, daily from 9:30 am to 12:45 pm. Tired of too many ads? go ad free now He added that all necessary arrangements have been made and advised students to reach their exam centres at least one hour in advance. Regarding open school students, the open school society director Narasimha Rao said that class 10 and intermediate exams will be held from May 19 to May 24, from 9:30 am to 12:30 pm. The intermediate practical exams will be conducted from May 26 to May 30, also from 9:30 am to 12:30 further explained that 640 students will appear for the open class 10 exams to be held across 9 centres, and 814 students will take the open intermediate exams at 5 to officials, all arrangements have been made for the class X and intermediate advanced supplementary exams, which are scheduled to be conducted between May 19 and 28, and May 12 and 17, respectively. A total of 4,563 students will appear for the class X exams. For this, 27 examination centres have been set up, along with 27 chief superintendents, 27 department officials, four route officers, and four additional assistant route officers to manage the examinations. Mobile phones, watches, and electronic devices will not be allowed into the examination centres. The district police will impose Section 144 around the examination centres. APSRTC officials will arrange buses on the respective routes to ensure that students arrive at the exam centres on time.
News18
01-05-2025
- Business
- News18
How India's 1996 Sukhoi Deal With Russia Became A Long-Term Liability
Last Updated: India operates 272 Sukhoi-30 jets but remains reliant on Russia for every requirement. Russia is embroiled in its own conflict with Ukraine, raising concerns about future support The recent terrorist attack in Pahalgam has significantly escalated tensions between India and Pakistan, with Islamabad reportedly preparing for a potential retaliatory strike from New Delhi. Against this backdrop, News18 takes a closer look at a key pillar of India's air power—the Sukhoi-30 fighter jets, which form the backbone of the Indian Air Force. India acquired the Sukhoi-30 fighter jets from Russia under a 1996 agreement signed during Prime Minister Narasimha Rao's tenure, valued at around Rs 55,000 crore. These jets were brought in to replace the ageing MiG-21 and MiG-27 fleets. Of the 272 Sukhoi-30s currently in service, 50 were directly imported from Russia, while the rest were manufactured by Hindustan Aeronautics Limited (HAL) under a technology transfer agreement. These aircraft have been customised to meet Indian requirements, featuring indigenous systems alongside advanced avionics developed in France and Israel. Powered by thrust-vectoring AL-31FP engines, the Sukhoi-30 boasts a range of 1,500 km. Armed with BrahMos missiles, it is considered one of the most powerful fighter jets in the world. As a result, Indian-manufactured Sukhoi-30s are attracting growing international interest. However, the deal with Russia came with certain limitations. India signed the agreement with Russia's Design Bureau and Irkut Corporation, with HAL assembling 222 aircraft at its Nasik facility. While Russia supplied assembly licences and technical documents, it withheld complete technology for key components such as the engine, radar, and airframe. As a result, HAL's role was largely limited to assembling pre-fabricated parts, preventing India from independently manufacturing the aircraft. Even minor modifications require Russia's approval, a dependency that became evident when the Russia-Ukraine conflict disrupted the supply of spare parts. Despite these challenges, the Sukhoi-30 remains the backbone of the Indian Air Force. India has drawn valuable lessons from the limitations of the Sukhoi-30 deal. Despite domestic production, the country lacks the autonomy to make modifications or export the jets. HAL's efforts to integrate BrahMos-NG and Astra missiles have been delayed due to limited design expertise. Amid heightened tensions with Pakistan, it remains uncertain how much support Russia will provide in maintaining the combat readiness of the Sukhoi-30 fleet. India operates 272 Sukhoi-30 jets, but for every requirement, it still relies on Russia, which is currently entangled in its own conflict. Russia's level of assistance during this critical period will be closely monitored. First Published: May 01, 2025, 18:21 IST
NDTV
24-04-2025
- Politics
- NDTV
A Day in Pahalgam Before Terror Struck
As my plane descended on the runway at Srinagar, my memory took me back to 35 years ago when I had gone to cover Kashmir as a cub reporter. Kashmir then was burning. Many people speculated that days were not far when Kashmir would not be part of the country. I took a taxi to go to Centaur hotel. When I realised that I was one of the two guests staying in that hotel, I was petrified and very next day I decided to leave and stay in Ahdoos near Lal Chowk, which was not fully occupied but had enough travellers, mostly journalists, to give me comfort. I walked through the narrow streets of Srinagar and could see only BSF pickets at every 500 meters and an armed jawan at every hundred meters. Srinagar then was literally a ghost town. Defiance and rebelliousness were etched prominently on their faces. Yet, not once was I abused or threatened. After spending a week there, I returned to write a story for Saptahik Hindustan: "Lamhon ne khata ki, sadiyon ne saza paayi" (centuries of punishment for moments of sin) Last week, when I arrived at the hotel with my wife, I was pleasantly surprised by the vibrancy of the city. In Srinagar, the roads were bustling with people. Tourists like me were greeted with traffic jams and slow-moving vehicles. While security measures were present, they were neither overt nor intrusive. This was in stark contrast to my visit in 1990-91, when buses and taxis were stopped every kilometre or two for thorough security checks. Kashmiris were subjected to full-body frisking, often with two or three jawans pointing guns at travellers. This time, however, I could walk freely, and taxis moved across the city with minimal security interruptions. The atmosphere was cheerful, people seemed happy, tourists were savouring every moment of their stay, and markets were thriving. Shops, restaurants, and cafes were packed, and tourists were everywhere. Srinagar felt like a joyous town. I also covered the Kashmir assembly elections in 1996, during Narasimha Rao's tenure as prime minister. At that time, the political process in Kashmir had resumed after nearly a decade, but the tension in the air was palpable. Conversations were hushed, and the city felt dangerous. We were advised to return to our hotels before sunset and avoid unnecessary risks. This time, no such warnings were issued. We had the freedom to dine out late at night without fear. Yet, my journalistic instincts told me that the calmness in the air might be deceptive. Kashmir seemed almost too normal and peaceful to believe, though I had no reason to doubt what I was witnessing. The next day, when we visited the Tulip Garden, it was almost impossible to walk without bumping into other tourists. People of all ages-young and old, men and women, boys and girls-were capturing memories with the vibrant tulips. Young couples and newlyweds were revelling in the moment, their spirits undeterred even by the rain. A friend of mine, who has travelled to some of the world's finest destinations, remarked that he had never witnessed so much happiness in one place. Along Dal Lake, vehicles crawled at a snail's pace, turning what should have been a short journey into a half-hour ordeal. On Sunday, we visited Pahalgam, where the warm weather welcomed us. The meadows were brimming with tourists, many eager to hire ponies to explore the picturesque upper areas. At Betab Valley-named after the film Betab, which was shot there-young Kashmiri boys played cricket. Visitors posed with sheep adorned in quirky decorations, including sunglasses, while women competed to be photographed in traditional Kashmiri attire. Local photographers were thriving, their business booming. Kashmir was on full display, showcasing its heavenly beauty. I could never have imagined that within 48 hours, the same place would transform into a graveyard. Devils seemed to descend from hell, unleashing terror and killing innocent men after identifying their religion. The thought that it could have been us was terrifying. I had visited Kashmir many times during its worst phases, yet apart from the initial hours of my first visit, I was never scared or concerned about my safety. I never felt threatened or intimidated. Kashmir always welcomed me. Tourists were rarely targeted, barring a few isolated incidents. It was beyond my comprehension that terrorism in Kashmir could take such an ugly turn, claiming the lives of innocent tourists. According to a Reuters report, tourist footfall in the Kashmir Valley reached its highest in 2024, with over 3 million visitors. The numbers have been steadily rising since 2022. The tourism industry was enjoying its best season in 2025, with projections suggesting that footfall would surpass the 2024 figures. A journalist is always a journalist. Even though I wasn't there on a professional assignment, my conversations with people from all walks of life-and even with friends in the security establishment-revealed a peace that felt both intriguing and, at times, unsettling. It was difficult for me to believe that the valley could be so happy and peaceful. This question became even more compelling in the context of the abrogation of Article 370 and the transformation of the state into a union territory. After a six-year gap, Kashmir has an elected government, with over 60% voter turnout. Yet, a question kept coming: if Kashmir appeared so normal, what would happen Pakistan-sponsored terrorism? There was an answer when an old Kashmiri friend shared his perspective: "This calmness is artificial. Kashmir is a ticking bomb. It's true that local Kashmiris are not happy, but they have to survive, and tourism is their lifeline. Tourism gives them the money to live a better life in a high-pressure situation." His words resonated deeply with me. Kashmir has been living in an abnormal state since 1987, when terrorism first took root following the assembly elections. During my stay, I could sense that Kashmiris are exhausted from living in turmoil. No one knows when a bullet might claim their life or that of their loved ones. A new generation has grown up under constant tension, never having experienced peacetime. They don't know what it means to live outside a war zone. For them, a knock on the door in the dead of night is routine. It's normal to witness loved ones being dragged away by security personnel or falling victim to a terrorist's bullet. Caught in this relentless cycle, they understand that Azadi is not a possibility; breathing freely under the Indian Constitution is their only option. Terrorists, with their bullets in Pahalgam, attempted to rob them of that choice. Not surprisingly, the entire valley is simmering with anger. The bullets fired in Pahalgam could mark a significant turning point in Kashmir's history. Those responsible will undoubtedly regret their cowardice. In the end, Sheikh Abdullah's words echo in my ears: "India is our homeland; and it shall always remain so." Sheikh Abdullah reflects in his autobiography, Flames of Chinar: "We had learnt from experience that the real reason for conflict was not religion but a clash of interests between different groups." Abdullah spoke in the context of freedom movement, and the partition of the country. Yet, even after 75 years, Kashmir must not forget those words.
