India's three-pronged strategy to dominate the world economy...
- Ambitious leaders who want to take India's economy to new heights have now started efforts to move forward after coming at number five...
- India becoming the fifth largest economy in the world is the biggest economic achievement of 2022. Amid this economic achievement, India is plagued with many problems at the domestic level.
- When Apple's assembly plant Foxconn was vandalized in China, Russian news agencies wrote that Apple now wants to withdraw from China.
India is steadily moving towards the international economic platform. When India became the fifth economic power in the world, the attention of all the countries of the world was drawn towards India.
When India overtook the UK, a kind of economic scrimmage was passed among people connected to the economic system and having an anti-India attitude. No one could have imagined that India would push the UK aside. Ambitious leaders who want to take India's economy to new heights have started trying to overtake Germany and Japan, who are now ahead of them after coming in at number five. Germany is ahead with only 16 percent while Japan is ahead with 24 percent.
India becoming the fifth largest economy in the world is the biggest economic achievement of 2022. Amidst this economic achievement, India is plagued with many problems at the domestic level. But it seems to be creating a strategy to focus attention on it so that people don't get too much attention and some controversies don't go on too much.
In 2023, there are indications that India is adopting a strategy to move forward on three issues to dominate the global economic sector. The biggest business opportunity facing India has come in the form of unrest in China. India is now trying to divert investors going to China. India is believed to be taking the help of Russia and America for that.
Representatives of these two superpowers are working to lobby India and divert large companies and their investors towards India. Plans are being made to make India the first sight of those who want to invest in Asia.
For example, when Apple's assembling plant in Foxconn was vandalized in China, Russian news agencies wrote that Apple now wants to buy from China. Similarly, it was written about when Amazon's Jack Ma left China. China then said that the anti-China lobby was trying to mislead investors. At that time, China did not take Russia's name but took its revenge.
Plans have also been made to provide facilities for production to people coming from China or outside China who want to invest in India, such as thousands of acres of land in Uttar Pradesh have been freed from pressure.
India has been encouraging local producers by stopping imports from China.For example, efforts to replace kodia from China during Diwali with local village kodia makers were successful. Now, when the landing festival will come, the string of kites coming from China has also been banned.
A policy is being implemented to promote local factories and products made at village level. Products coming from China are being cut.
Free trade is the second issue that diverts investors from China to India. The implementation of the free trade agreement between India and Australia is starting from December 28. By doing this, India wants to create an open market with other countries as well.
Small traders and manufacturers have been ordered to make arrangements to do business directly with foreign countries. Generally, age-old agencies and traders are benefiting from foreign trade. The government has told the Ministry of Commerce that plans should be made to give a chance to traders from other parts of the country and those who have not exported in the past for free trade.
The third issue is the leadership of the 20 G countries. India will use it to get business locally and boost the tourism business. All the meetings in India will be accompanied by mini business tours for the delegates from each country.
With these three points, India is moving forward to improve the trade sector. Factors like if and then will come into it today but the government's focus on business growth has become very important.
Covid rearing its head again in China is increasing India's smile. In order to divert Chinese investors to itself, India needs to build infrastructure to accommodate them.
Introspection is necessary for India.
India tries to attract foreign investors and also lobby for it but have you ever thought why people of India go to Dubai or Singapore to set up business. Either they don't get facilities of schools or hospitals or any recreational facilities in India or they are suffering from Indian law enforcement police. Everyone is willing to enforce the law but it also causes unnecessary harassment to people. The talk of ease of doing business is a myth but the reality is different. India should understand that the concessions that China can give in business cannot be given by India.
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