Karan Bilimoria, life peer in the House of Lords, is undoubtedly India’s greatest ambassador. His name is synonymous with everything that’s positive on the subcontinent. Recently, he was captured on film during a UK parliamentary debate, with data that confirmed that the India economy is like an express train.
Here’s a recount of that data:
In 25 years, India wants to be the second largest economy in the world.
Lord Bilimoria had previously insisted that in 30 years, India will have the largest economy in the world.
The above wish may seem wistful to some. But here’s why it’s not only possible, but probable.
India has overtaken the UK as the fifth largest economy in the world.
It’s already the fastest growing large economy, with a growth rate of 8.7 percent in the last financial year.
India is the fourth largest producer of renewable energy and solar power.
A tenth of private startup companies now valued at over $1bn (Unicorns) have come from India.
Little wonder he closed his speech with the words “the Indian economy is like an express train”.
Lord Bilimoria also recalled the behaviour of the Indian Government during the pandemic. It was as faultless as it was possible to be during that time of confusion and panic, partnering with Oxford University and consequently producing billions of vaccines.
And just last week, the cherry on the top was India’s touchdown on the moon. At Inside Telecom we believe it was the most significant lunar event since Apollo 11.
The cloak of global leadership seems to fit Indian PM Narenda Modi well. Speaking after the BRICS summit in Johannesburg last week, he cautioned governments to not just treat other countries as markets, but as communities with aspirations of their own. “A profitable market can only be sustained when there is a balance in the interests of producers and consumers” Modi stated, making an unashamed pitch to investors.
Anyone who underestimates the strength and vision of the Indian economy should take heed. In a world beset with uncertainty, that light at the end of the tunnel may be the light of an oncoming Indian express train.
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