By fostering multifaceted relations with neighboring countries, India has broadened its influence in South Asia, contributing to regional stability and economic cooperation.
India’s transformation since 2014 narrates the emergence of a nation determined to establish itself as a global powerhouse. Economic, social, and foreign policy reforms have carved a new path for India, positioning it as a major player on the international stage. This article explores the intricacies of India’s metamorphosis into a formidable force, defining the essence of “New India.”
Part I: India’s Economic Transformation
Economic Reforms and Policies Goods and Services Tax (GST): A monumental reform that replaced numerous conflicting indirect taxes with a unified tax system, improving transparency and promoting ease of business.
Banking Sector Reforms: The comprehensive cleanup of public sector banks and the enactment of the Insolvency and Bankruptcy Code marked a serious commitment to financial stability and economic growth.
Digital India Initiative: A transformative national program designed to make government services digitally accessible, fostering digital literacy and paving the way for a digitally empowered society.
Growth and Global Recognition
GDP Growth: With its rapid economic growth, India’s economy has ascended to the sixth position in the world by nominal GDP, cementing its status as a major economic force.
Global Competitiveness: Policies to facilitate the “Ease of Doing Business” have propelled India up the global rankings, making it an attractive destination for foreign investment and industrial development.
Challenges and Roadblocks
Employment: The pressing need for robust job creation, vocational training, and educational reforms remains a substantial challenge, requiring innovative policies and initiatives.
Income Inequality: Addressing the widening gap between the affluent and the impoverished is a complex issue that demands careful planning and sustainable development strategies.
Part II: India as a Regional Leader
Strengthening Regional Cooperation
Engagement with Neighbors: By fostering multifaceted relations with neighboring countries, India has broadened its influence in South Asia, contributing to regional stability and economic cooperation.
Indian Ocean Diplomacy: India’s proactive engagement in the Indian Ocean region reflects its strategic interest in maintaining regional security and fostering trade and connectivity.
Defense and Security Cooperation
Defense Modernization: Prioritizing indigenous development, India has advanced its defense capabilities, strengthening its military position and contributing to regional peace.
Counter-Terrorism Cooperation: Building alliances and intelligence-sharing networks with global partners has consolidated India’s commitment to combating terrorism and extremist ideologies.
Part III: An Assertive and Nuanced Foreign Policy
Strategic Partnerships and Alliances
US-India Strategic Partnership: Prime Minister Narendra Modi’s leadership has redefined the relationship between India and the US, building trust, expanding military cooperation, and enhancing economic ties.
India’s Relationship with Japan: Modi’s personal diplomacy and common strategic interests with Japan have strengthened bilateral relations, building a strong foundation for future collaboration.
Balancing Ties with Russia and the West: India’s delicate balancing act, maintaining relations with both Russia and the West, highlights its ability to navigate complex geopolitical landscapes.
Leadership on the Global Stage
Inauguration Diplomacy: Modi’s strategic decision to invite neighboring countries to his inauguration signaled a new era of neighborhood engagement and regional solidarity.
G20 Presidency: Holding the G20 presidency, India faces the enormous task of forging consensus among major global players on critical issues like the war in Ukraine and economic stability.
Dealing with China: The challenge of maintaining border stability and managing relations with China calls for astute diplomacy and a nuanced approach to regional power dynamics.
Part IV: Emphasis on Economic Development and Global Cooperation
Sustainable Development and Environmental Stewardship
Renewable Energy Commitments: India’s ambitious target of 175 GW of renewable energy by 2022 demonstrates its commitment to environmental sustainability and global climate agreements.
Water Conservation: With initiatives like Jal Shakti Abhiyan, India is addressing the critical challenge of water scarcity, promoting conservation, and ensuring equitable distribution.
Social Development and Inclusion
Healthcare Reforms: The Ayushman Bharat program, aiming for universal healthcare, represents a significant milestone in ensuring health access to millions of underprivileged citizens.
Education and Skill Development: The introduction of new education policies seeks to revolutionize the education system, emphasizing skill development, innovation, and inclusivity.
Prime Minister Narendra Modi’s nine-year tenure has defined a meteoric rise in India’s global influence. The synthesis of strong leadership, assertive diplomacy, economic reforms, and regional engagement has positioned India at the center of global affairs.
The era from 2014 to 2023, marked by transformation, strategic alliances, economic resurgence, and social empowerment, outlines India’s ascent as a sought-after global player. The journey of “New India” remains an ongoing process filled with opportunities and challenges.
The New India stands as a testament to the nation’s resilience, ambition, and strategic foresight. As it continues to grow and evolve, the world watches with interest, recognizing India’s potential to shape global dynamics in the years to come.
https://www.financialexpress.com/business/defence-the-new-india-2014-2023-economic-rise-regional-leadership-and-assertive-foreign-policy-3209246/
