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Gravitas: Why India should stop seeking validation from the West

In a Globalized world good relation with all those who can make a difference matters,

Enriching Indian culture is something local, but international relations is built on trust and mutual accommodation.

India should move forward with others in creating wealth and security for his people,

Many countries in the world is looking towards Indian Leadership.

In leadership there are time, only listening is beneficial.

In business and in life, we all tend to do better than others. There is competition and we must overcome that.
In 70 years India has achieved tremendous growth and prosperity. India will be a powerhouse in the future.
Why India really lags behind: The answer is not those five myths about China that we love so much

Many of us increasingly believe these following five myths about China: 1) China’s authoritarian governance model is primarily responsible for its unprecedented economic rise; 2) China has made impressive gains by manipulating global trade and investment rules, stealing IPRs and resorting to unfair subsidies; 3) China promotes exports by all kinds of fair and foul means but remains unreceptive to imports; 4) Favourable global factors such as emergence of WTO and Information Technology Agreement (ITA) helped China to become the world’s factory; and 5) China’s been able to create its local tech biggies like Alibaba by restricting global tech giants such as Amazon.

In this view, India should take the following lessons. We should be cautious about FTAs (that lead to more imports than exports), and shouldn’t be all-welcoming towards FDI and MNCs. We should promote desi companies over foreign ones. Most countries have now turned protectionist so we should focus on our large domestic market. We had a glorious past and unmatched scientific prowess. We’re destined to have a glorious future when we’d be mightier than China or the US like we once used to be.

In this view, China doesn’t have to worry about political parties, interest groups and states pulling in different directions, which explains India’s slower economic progress. What we forget is that Iraq, North Korea, Russia and several African countries despite being authoritarian have done badly when it comes to bettering the material life of citizens. Several Western democracies have done far better.

Back home, BJP has a clear majority in Lok Sabha and is now also strong in Rajya Sabha. It’s in office in most states. The prime minister is in full control of government and the party. Yet, his government is the most defensive when it comes to pushing tougher reforms barring a few exceptions such as the insolvency and bankruptcy code. The Congress government led by PV Narasimha Rao or NDA led by AB Vajpayee were far gutsier. UPA-1 with thinner majority did better economically than UPA-2 with stronger majority. Modi 2.0 with better majority has delivered us 4.5% amid worsening investment climate. Conclusion: strong governments don’t automatically lead to stronger economic growth.

We don’t need to copy China to be an economic superpower except maybe its long-term focus. And yes, we had a glorious past and we should be proud of that. However, we’ll need to work harder to have a glorious future as competition to the top is intenser now. Even if India is a large economy, its per capita income at $2,000 is too low and income inequality too high. That will cap domestic demand, and in turn, its growth prospects. Thus, it doesn’t have a choice but to push exports to grow faster. That calls for urgent internal actions. And, an open market and double digit growth is the way to glory, not shutting our doors to the world.

ICRIER data on inclusiveness shows India in a poor light

Data on overall inclusive development from emerging economies shows India in poor light.

According to data computed by the Indian Council of Research on International Economic Relations (ICRIER), India is far behind neighbours China and Indonesia on all major counts of inclusiveness such as education, skills, employment, labour compensation and asset building.

Even among the BRICS countries, India is the least inclusive economy. Russia’s rank in the overall inclusive development index (IDI) is 9.
According to ICRIER, India’s bottom-most ranking among BRICS is a matter of “great concern”.

According to the data, among seven emerging economies of China, Argentina, Brazil, South Africa, Indonesia and Turkey, India is behind six of them on education and skill parameters and behind five of them, excluding Turkey, on asset building and entrepreneurship.

On employment and labour compensation, India is behind China, Brazil and Argentina but ahead of South Africa, Turkey and Indonesia.

While South Africa’s and Brazil’s performance is comparatively uniform on most of the indicators, China has done well on employment and skill pillar (mainly because of very high worker population ratio and low dependency ratio) and on asset building pillar, helping it score an overall higher rank on inclusive growth. China’s ranking is 8th on IDI, which is the highest among emerging nations and BRICS.

India is at the bottom on education, securing 18th rank, with ICRIER suggesting that a country like India, which still has limited access to education, should first focus on it before spending its limited resources on quality and digital literacy.

If you have no opposition to compare with we would be number 1, but that claim would be a hollow one.
We should have to have our confidence, but unless others including China and the west nipping at our heels we would have no incentive to do better.

So we must keep an eye on the west, China, and the rest of the world. We may not need their approval but without that market, we can not even measure our growth.

Wolf is needed to keep the herd of reindeer healthy, and strong. Similarly, we need other countries in the race to keep us ahead.

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