India has gone from being the back office to world factory
Extract
from the article:
In his recent remarks, Prime Minister Narendra Modi proudly asserted that India
has now emerged as the world's most populous country, signifying a pivotal
demographic shift on the global stage. This demographic reality comes at a time
when India is rapidly transforming into an economic powerhouse, with its
growing economy being spotlighted as a beacon of future global development.
Modi’s characterization of India as a "world force" and a "model
of the world" underscores the nation’s rising stature and its increasing
indispensability in international geopolitics and trade.
The prime minister's statements encapsulate a broader
narrative where India’s youth population, democratic framework, and economic
dynamism combine to position the country as a dominant global factory and
innovation hub. The world is now keenly observing India's trajectory, expecting
the country to become a linchpin in post-pandemic recovery and supply chain
realignment. Modi’s vision embraces India's potential not only as a demographic
giant but as the architectural heart of the world’s manufacturing and skill
development revolution — a future where India not only participates but leads.
My
Take:
A. Thank
You Shri Amitabh Kantji
"Last year their number has crossed 16,000. The Prime Minister pointed out
that India’s campaign for innovation has resulted in improvement of India’s
ranking in Global Innovation Index where India stood at 81st rank but now India
stands at 46th rank in the index. Thanks Amitabh You have more than lived up to
a commitment that you made to the Nation."
Reflecting on this passage from my 2022 blog, it’s
fascinating to see how Modi’s contemporary claims about India emerging as the
‘factory of the world’ are deeply rooted in the sustained innovation momentum
highlighted a couple of years ago. India’s leap in the innovation index is not
just a number; it epitomizes the cumulative effect of policy push,
entrepreneurial energy, and technological adoption. This renaissance has been
instrumental in fostering India's appeal as a global manufacturing hub and in
nurturing a skilled workforce — the very foundation upon which becoming the
"world force" rests. I can personally attest to how foresight and
tenacity, as advocated in innovation efforts, are integral to this evolutionary
narrative.
B. Nitinbhai,
Question is: How?
“Business Line (21 Jan 2017) quotes Shri Nitin Gadkariji to have said: ‘We are
the fastest growing economy, but China is ahead of us in size. Their advantage
as also disadvantage is that they are a communist country and they do not have
a democracy. In our country, we have democracy and the good thing is that the
Modi-led government is investment friendly and development oriented. Also, it
is committed to fast-track decision making process and to make it a corruption
free country. So, what we need to do is to work at China’s pace in terms of our
policies, our administration and at State levels. We need to implement all the
necessary changes in the decision making process because we want to be the
World leader and a global economic superpower.’”
Looking back at this 2017 insight, it perfectly aligns with
the present reality Modi describes about India’s emergence as a future global
manufacturing hub. The pragmatism in recognizing democracy as both strength and
challenge is critical. The emphasis on reforming administrative processes and
accelerating decision-making was prophetic and quintessential to positioning
India as a "model of the world" today. The intense focus on
governance reforms and investor-friendly policies has laid the bedrock for the phenomenal
economic growth that supports India’s burgeoning standing. It is as if the
blueprint laid out seven years ago is now being realized on a grand
international canvas.
C. Human
Resource Capital of the World?
“Every poor Indian is my soldier. I have to win the war of over poverty with
them. Skills not only puts money in your pocket, it gives you self-confidence.
This mission is for those people who are left behind... 65 per cent of the
Indian population is under the age of 35. And if they don’t have skill, they
will become a challenge for us rather than an opportunity. Through this mission
we want to fulfill dreams of people and we want to do it in a structured way,
taking states together.”
This excerpt from the Skill India launch captures an
essential dimension behind Modi’s declaration about India’s demographic might.
The “factory of the world” moniker is not merely about physical manufacturing;
it is intrinsically linked to human capital transformation. Empowering the
youth with skills means capitalizing on a demographic dividend that can drive
innovation, quality, and productivity. It rings true that without harnessing
these talents through structured programs, the sheer population growth could
turn into a liability. From my perspective, the audacious mission to upskill
and uplift millions is the cornerstone of India’s evolutionary march towards
economic leadership and global relevance.
Call to
Action:
To the policymakers, industrial leaders, and skill development authorities—now
is the moment to double down on investments in infrastructure, innovation
ecosystems, and human capital development. India’s unique demographic advantage
must be matched with aggressive upskilling, simplifying regulatory frameworks,
and fostering an environment where entrepreneurship and manufacturing flourish
in tandem. Embrace this historic opportunity to sculpt India not only as the
‘factory of the world’ but also as the incubator of sustainable, inclusive
growth for generations to come. The world is watching; let us ensure India’s
narrative reshapes global economic paradigms with conviction and courage.
With regards,
Hemen Parekh
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