“Saare Jahaan se Accha (best in the world)”

-- Aleena Sara Biji,IX-A,Indian Learners Own Academy, Kuwait

When asked by the then Prime Minister, Mrs.Indira Gandhi, “How does India look from the space?”, “Saare Jahaan se Accha (best in the world)” was the reply from the first Indian cosmonaut Rakesh Sharma. India does look beautiful from up there. It has a crown like Kashmir, Bay of Bengal in the East, and the Arabian Sea in the West and Adam’s bridge in the South.

India is enormous in size, as it has a total area of 3.28 million square kilometers. It is the seventh largest country in terms of landmass. Location of India is between East and West Asia. This gives a strategic advantage over both land and water. Both, sea and land routes have proved to be a huge passage between India and the world to exchange ideas and commodities. As these routes let the world explore India, they also helped western influences to reach India.

Trade routes from the land and the sea played a key role in intellectual, trade and architectural development of India. According to projections from the World Bank and the International Monetary Fund, India is projected to be the world’s fastest growing economy for the rest of the decade. It will also soon be the world’s largest country by population. With about 1 billion citizens and a population growth rate more than China and the US combined, India absolutely has the capacity to become a global economic super power within the next 30 years.

Germany, with a GDP of about $3 trillion, is the largest economy in Europe and one of the largest in the world. Like other highly developed, service- oriented social market economies, Germany has one of the highest standards of living in the world. India is mainly an agricultural economy. Around 50% of India’s workforce is involved in agricultural activities that contribute majorly to its economy. Agriculture does not just mean growing and selling of crops but also involves poultry, fishing, cattle rearing and animal husbandry among other similar activities. People in India earn their livelihood by indulging in many of these activities.

These activities are vital for our economy. The industrial sector comes next. Many industries have surfaced in our country ever since the industrial revolution. The industrial sector has especially seen a change in last few decades. We have large scale industries such as iron and steel industry, chemical, sugar, cement and shipbuilding industry that contribute a great deal to the country’s economy. Indian economy is growing at a steady speed. The increasing number of various manufacturing industries, the growth in export of manufactured goods and the privatization of bank and telecom sectors has made a positive impact on the Indian economy. India was once known as the Golden Sparrow because of the wealth accumulation in the country. This is one of the main reasons it attracted foreign invaders. The efforts of the Indian government and the hard work of the public have paid off. Our country has made good progress in various industries during the last few decades and this has led to its economy growth. The average GDP of our country is around 7%. The main problem of our country is unequal distribution of wealth. While a good population of our country is earning well and is contributing towards the country’s economic growth, many are still not able to make their ends meet.

There are still many people in our country who are living below poverty line. The economic growth of our country is of no good, if such extreme poverty still persists.

The government has taken several initiatives to ensure the economic growth and development ever since independence. The sharp mindedness of the Indian youth and the numerous initiatives taken has collectively contributed to the economic growth. India has sustained rapid growth of GDP for most in the last decades leading to rising per capita incomes reduction in absolute poverty. Per capita incomes have doubled in around 12 years. In a report on India in the Financial Times in 2012, it was claimed that “India’s failure to adopt enough of the large- scale, labor- intensive manufacturing that has propelled the successful development of China and other east Asian countries is now regarded as one of the greatest weaknesses of the Indian economy”.

India’s growth has been impressive in recent years but this is a country whose development is hampered by endemic structural problems. India requires significant investment in infrastructure, manufacturing and agriculture for the rapid growth rates of the last fifteen to twenty years to be sustained. The southern part of India is slowly becoming a huge technical hub of Asia. Bengaluru is projected to overtake

Tokyo in terms of production of consumer electronics. Mumbai as always is a huge economic machine, producing economic centers and hubs of renowned multinational companies, which help the acceleration of our GDP as Mumbai currently holds a Metropolitan GDP of about 350 billion US $. Gujarat is at its peak for the number of Enterprises. It is very common for us to keep unexpectedly high hopes of future growth. However, we must not forget that still we need to fight against a whole lot of root problems that may hinder our growth. It won’t be feasible to mathematically calculate for about 12 years from now. But, still we should expect India to feature in list of top 3 world economy by 2030.

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