Raghav JhunjhunwalaAIR 4 · CSE 2025 · 220 wordsTheir whole copy
Opening
The Recent Covid-19 Crisis exposed some of the most pressing challenges facing the Indian Economy. Coupled to it are the phenomena of war; deglobalizing tendencies and IR 4.0.
Body · points and prose
- What Implications held for India
I) Deglobalization
→ 1) may hurt India's dream of Export led Growth of over $2Tn. 2) Reduced Technology transfers and FDI movements. 3) Increasing protectionism and stricter visa norms.
II) War (Ex: Russia-Ukraine)
This has serious implications for India's macro-Economic stability
III. Added to it is serious challenge of transitioning to IR 4.0 and keeping it Employment-Neutral
challenges (1) structural unemployment & obsolescence (2) Decline in L/K ratio and more mechanization (3) more Exclusive Growth
- Steps taken in the Regards
(1) Atmanirbhar Bharat Abhiyan
1.a) → Domestic manufacturing capability increasing share to GDP (17% → 25%)
1.b) → Becoming part of global value chains (GVCs) and not being simply inwards-looking
1.c) continuous Reforms
(i) >35,000 compliances removed
(ii) >1,400 provisions of company law → decriminalized.
(2) Improved Trade deals which are in our favour and not succumbing to pressure like RCEP.
(3) Better MOUs and collab with countries for market Access and Technology transfer.
Close · a summary
Thus, sustained efforts in the right direction are highly critical to be able to sail India to the dream of $ 5 Trn. Economy when we complete 100 yrs. of Independence.