| 20 | At the same time there is a tacit recognition that no single country will acquire all capabilities—implying that there will be some level of dependence on others. This is the genesis of the idea of “friend-shoring” of supply chains. Hence, while India must grow its economy numerically, it will also have to strengthen its foundations. An economy that will be more diversified with a strong industrial base—including defence production capability—ensure energy security, especially through the diversification of the energy mix with lesser emphasis on hydrocarbons. India will also have to ensure that neither an individual nor a region in the country is left behind. At present, regional growth is skewed with the eastern regions lagging the western states. Social and regional stability is a prerequisite to ensure sustainable growth. Finally, India will need a reliable and vast infrastructure that connects the country both internally and externally. The good news is that several building blocks like developing infrastructure, including rural connectivity, on mission mode, an industrial policy defined by production linked incentive schemes or PLIs to localise production and creation of defence clusters have already been seeded. In addition, India enjoys a demographic tailwind, with a median age of its 1.3 billion population just 28 years and a massive 68% working population. Its rapidly growing middleclass—projected to grow to a staggering 1 billion in 2047—will also help expand the domestic consumer economy, reaffirming its potential as a global investment destination. However, pulling off such an audacious ask to achieve the potential that the rest of the world sees in it, will require India to undertake a fundamental mindset reset among all stakeholders—government, bureaucracy, corporates, and citizens. This won’t be easy. India’s recent record shows that neither is this impossible. • Underlying this desire to grow the economy so rapidly is a strategic intent: A belief that a strong economy translates into a country that is strong, both militarily and diplomatically. www.greenkogroup.com 10 GWh* by 2024 50 GWh* by 2026 100+ GWh* by 2028 * can be used more than one cycle per day Intelligent Renewable Energy Cloud Storage Platform IREP Pinnapuram, Kurnool, India
RkJQdWJsaXNoZXIy NTcxNzM1