India at 76: Key Achievements of World’s Largest Democracy

National

India is getting ready to celebrate its 76th Independence Day on August 15, 2023. The journey to freedom was challenging, and since gaining independence, the nation has achieved significant progress in different areas. India has made strides in technology, space research, healthcare, and education. Government initiatives aimed at development have also bolstered the country’s global standing. India has achieved some significant milestones on multiple fronts this year while also strengthening its position on the world stage.

Here are some of the key achievements of India in recent years.

Economic Growth   

India’s GDP reached approximately $3.75 trillion in 2023, a significant increase from around $2 trillion in 2014. India is now the world’s fifth-largest economy, surpassing the United Kingdom last year. The world’s leading investment firm predicted last month that India is poised to become the world’s second-largest economy by 2075. The Indian economy not only endured but flourished following the pandemic, rebounding swiftly. It continues to hold the title of the world’s fastest-growing economy, projected to grow at around 6.5 percent for the fiscal year 2023–24.

India’s GDP expanded by 6.1 percent in the final quarter of the fiscal year 2022–23, surpassing expectations from analysts. So, these are the signs of India’s resilient economy despite suffering major setbacks at the time of the pandemic. Finance Minister Nirmala Sitharaman called India a “Bright spot” in the global economy in June this year. Various major economies like China, the UK, the US, etc. have faced a downturn in their GDP growth, but India’s GDP has been continuously growing.

Space Sector 

India’s space sector is on a continuous rise while achieving various milestones. Recently, India’s space agency ISRO successfully launched its third lunar mission, named Chandrayaan-3, with the objective of widespread exploration of the south pole of the moon, which has been largely unexplored to date. If this mission is successful, India will join the exclusive club of nations that have previously achieved a safe and secure landing on the moon.

Missions like Chandrayan and Mangalyaan highlight India’s space exploration prowess. India is all set to launch its first manned spaceflight mission, named Gaganyaan,” at the end of 2023 or 2024. This program will make India the fourth nation after the United States, Russia, and China to do so.

Service Sector

The services sector is projected to achieve 9.1% growth in FY23, compared to 8.4% YoY growth in FY22. In 2021, India ranked among the top ten countries in services exports, with its global commercial services export share rising from 3% in 2015 to 4% in 2021. Despite the challenges of the Covid-19 pandemic and geopolitical uncertainties, India’s service exports remained strong due to increased demand for digital support, cloud services, and modernizing infrastructure.

The service sector received significant investments of US$8.70 billion in FY 2023. Credit growth in the services sector gained pace, rising to 21.4% year-on-year in May 2023, compared to 12.7% in the previous year. This increase was mainly driven by improved credit uptake in the ‘aviation’ industry (41%), and ‘Non-Banking Financial Companies (NBFCs)’ (26.7%).

Digital Infrastructure

 The Economic Survey highlights a shift in digital service access, which was previously limited to urban households before 2014. However, the launch of the Digital India program in 2015 aimed to establish digital infrastructure as a fundamental utility for all citizens. In the last three years (2019–21), rural areas gained more internet subscribers (95.76 million) compared to urban areas (92.81 million). This success is attributed to dedicated efforts through government schemes like the BharatNet Project, the Telecom Development Plan, and initiatives for regions like the North-East and areas affected by extremism.

During the COVID-19 pandemic, rural India’s substantial growth in internet users served as a significant buffer for businesses and consumer demand disruptions. The digital infrastructure, built over time, not only ensured continuous information flow but also added economic value as businesses embraced digital platforms. The government’s emphasis on equal rural and urban digital connectivity is evident in the 200% surge in rural internet subscriptions from 2015 to 2021, compared to a 158% increase in urban areas.

Defence Sector

. In the fiscal year 2022–23, defense exports from India reached an unprecedented level of around Rs 16,000 crore, marking a more than 10-fold increase since 2016–17. Additionally, India is now exporting to over 85 countries. Currently, around 100 companies from India are exporting defense products, demonstrating the country’s design and development prowess to the global market.

The increasing defense exports and the involvement of 104 nations in Aero India 2023 highlight India’s expanding capabilities in defense manufacturing. In 2022, the Philippines inked a deal worth $375 million for Brahmos missiles with India. And, that was considered the beginning of India’s growing prospects in defense exports. Many countries have shown interest in India’s Tejas fighter jet.

So, these are some of India’s latest achievements in some of these sectors. Apart from t some other sectors, like the industrial sector, startup sector, IT sector, etc., have witnessed remarkable advancements. So India is all set to celebrate its 76th Independence Day with all its achievements.

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