Page 139 - Abhivruddhi

Conclusion:
It appears that the idea of becoming a five trillion-dollar economy has
permeated into the collective consciousness of people in India. From the
responses of senior management professionals, it appears that they are
optimistic albeit cautiously. While the Indian government is going all
out to promote this idea, it has also received positive coverage in Indian
media and also endorsement from international agencies such as IMF
as well as consulting firms such as EY. The overseas media however,
remains exceedingly pessimistic. This is an area of concern as it is likely
to influence overseas investors, governments and the Indian diaspora
overseas. Just as its important for India to achieve its goal of becoming a
five-trillion-dollar economy, it must be seen as credible too. This cannot
be the job of the government alone. Consumers, businesses and investors
in India must be a part of this narrative.
In 25 more years we will complete a century of being free from
colonial rule. Sometimes it’s a good idea to look in the rear view mirror
of time to plan ahead. Archeological and other evidence suggests that
since ancient times India had not just a civilizational outreach but also
economic outreach through trade with Africa, Middle East and South
East Asia. In his book ‘The Ocean of Churn’, Sanjeev Sanyal writes: “Indo-
Roman trade boomed in AD first and second centuries. About 120 ships
made the round trip between India and the Red Sea ports every year. The
availability of eastern luxuries transformed Roman tastes but the problem
was that the empire ran a persistent trade deficit with India.” This led
Roman writer Pliny to remark: ‘Not a year passed in which India did not
take fifty million sesterces away from Rome’. With the collective will of
Indian people this history may yet repeat itself.
In their book ‘A New Idea of India’ Harsh Madhusudan and Rajiv
Mantri write: “...India’s economy should boom not so that Indians can feel
superior, but because it’s reasonable to want the average Indian to be at
least as well off as the average human. But for that India will have to make
prosperity, and not merely the removal of poverty, the overarching aim”.
The goal of becoming a five-trillion-dollar economy will receive more
traction if all Indians acknowledge this.

139