India’s Growth and Future: Insights from EAM S Jaishankar
Celebrating the Aditya Birla Scholarships Programme
In Mumbai, during the Silver Jubilee Celebrations of the Aditya Birla Scholarships Programme, External Affairs Minister S Jaishankar emphasized the importance of developing capabilities across various domains. He highlighted that a country’s comprehensive national power is now measured by technology, economic resilience, human creativity, and societal well-being, not just military or political strength.
India’s Path to Self-Sufficiency
Jaishankar stressed that nations, especially large ones like India, must achieve self-sufficiency to avoid vulnerabilities in an era of ‘weaponized economics.’ He pointed out that India’s rise depends on strengthening technology, research, design, and innovation, which requires expanding manufacturing and industrial culture.
India’s Economic Growth
India is currently the fifth largest economy and is expected to become the third largest by the end of the decade. The country’s exports, particularly in services, have increased significantly, and investments have more than doubled. This growth is reflected in the increasing interest from international visitors and businesses.
Expanding Global Presence
India’s global engagement is growing, with more people exploring opportunities in tourism, education, and work. Passport services have increased by 10% annually, and Indian entrepreneurs are establishing their presence worldwide.
Diplomacy and Resilient Supply Chains
Much of India’s diplomacy focuses on promoting exports, attracting investments, and expanding tourism. The COVID-19 pandemic highlighted the risks of relying on limited geographies for production, leading to a push for more reliable and resilient supply chains.
Doubts Revealed
EAM -: EAM stands for External Affairs Minister. In India, this is the person responsible for managing the country’s relationships with other countries.
S Jaishankar -: S Jaishankar is the current External Affairs Minister of India. He helps India communicate and work with other countries.
Aditya Birla Scholarships -: The Aditya Birla Scholarships are awards given to students in India to help them with their education. They are named after a famous Indian businessman, Aditya Birla.
Mumbai -: Mumbai is a big city in India, known for being the financial capital of the country. It’s like the business hub where many important events happen.
National power -: National power refers to the strength and influence a country has in the world. This can be through its economy, military, culture, or other important areas.
Self-sufficiency -: Self-sufficiency means being able to take care of oneself without needing help from others. For a country, it means being able to produce what it needs without relying too much on other countries.
Weaponized economics -: Weaponized economics is when countries use economic tools like trade or finance to pressure or harm other countries. It’s like using money and trade as a weapon instead of using armies.
Fifth largest economy -: Being the fifth largest economy means that India’s economy is the fifth biggest in the world. This is measured by how much money the country makes and spends.
Third largest by the decade’s end -: This means that by the end of the next ten years, India is expected to have the third biggest economy in the world.
Exports -: Exports are goods or services that a country sells to other countries. For example, India might sell spices or software to other countries.
Investments -: Investments are when people or companies put money into something to make it grow, like starting a new business or building a factory.
Global engagement -: Global engagement means how a country interacts and works with other countries around the world. This can include trade, diplomacy, and cultural exchanges.
Resilient supply chains -: Resilient supply chains are strong and flexible systems that help get products from where they are made to where they are needed, even if there are problems like a pandemic.
Post-COVID-19 -: Post-COVID-19 refers to the time after the COVID-19 pandemic, when countries are trying to recover and return to normal life.
