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In a league of her own

www.bombaytimes.com | February 1, 2024

India's list of recent achievements has been heartening and offers a sign of what lies ahead. We highlight some of them and the factors that contributed to these successes.

India has received numerous accolades across various spheres and domains recently. Some of these include establishing herself as the fifth largest economy in the world, successfully landing the Chandrayaan - 3 on the moon, a remarkable winning streak at the Asian Games and Asian Para Games, and moving up to the 40th position in the Global Innovation ranking, among other things. Here, we speak to industry experts who shed light on the factors that contributed to these triumphs.

Relentless Growth
Achieving such mammoth feats is undoubtedly a culmination of relentless efforts. Speaking on some of them, Aditya Sesh, a CA and the founder and MD of a fund services company and a member of one of the central government's expert committees, says, “These successes are a result of sustained and incremental advancements over the past few years. Policies with long-term vision, sustained budget allocations for space research, proactive diplomacy initiatives, and a substantial push in infrastructure development have played crucial roles. Additionally, there has been a surge in technological innovations, particularly on the product side, and an increase in private sector capital expenditure and robust internal demand."

Economic Glory
India's focus on strengthening its economy has born fruit and will continue to do so in the coming years. Sharing his thoughts on this, S Anand, the CEO and founder of a fintech venture, says, "India has become the fastest-growing and fifth-largest economy globally thanks to its solidified partnerships, robust democracy, investor confidence and resilience. The country has seen increased growth due to key sectors, like services, information technology, agriculture, and manufacturing. Moreover, government initiatives, streamlined tax systems, rising consumer sentiment, and increased capital spending on infrastructure have contributed to sustained growth."

Sporting Prowess
The country's stupendous achievements in the field of sports have given the country plenty to celebrate and cheer. Rehan Poncha, a former swimmer, Olympian, and Arjuna Award winner, tells us, "India's results in the Asian Games and Asian Para Games last year have been exemplary. We have won over 100 medals at each event, which is considerably more than before. What is increasingly encouraging is the larger contingent that our country sent to these events. Moreover, India is doing a fantastic job to identify, nurture and support talent thanks to which we are performing better at international tournaments. This support must reach a larger number of athletes."

Dr Mahdi S. Farrokh, Assistant Professor - Sports and Physical Education, FLAME University, adds, "The country's athletes have showcased their exceptional talent, dedication, and hard work, and made the nation proud. With continued support and investment in sports development, India has the potential to become a powerful force on the global sporting stage."

India must continue her endeavours to excel further. Dr Kavish Dawda, an economics professor, concludes, "The government must formulate policies that streamline the business environment to facilitate successful entrepreneurs, invest in skill-building and infrastructure, and enable financial inclusion for all."

This article contains the valuable insights of Prof. Mahdi Farrokh, Faculty of Sports and Physical Education, FLAME University.

- Bombay Times (published in print edition)