Leveraging the Indian ocean and strengthening India’s presence in the Indo-Pacific will help ensure maritime security and safeguard national interests in the international ord The conclusion of White Shipping Agreements with nations serves as an illustration. ‘Nationalism being a product of politics and identity, India has had to grapple with both when it comes to its immiate periphery.’ – External Affairs Minister, Dr. S Jaishankar In order to further the ‘Make-in-India’ narrative, the implementation of the PLI scheme provides incentives to stimulate production in India and empower domestic players against foreign competition. An import substituting, self-reliant economy with growing exports aids in bridging India’s trade deficit.
A resilient service sector and industrial reforms increases India’s centrality in the world.: The development of India’s banking system and financial markets via digital technology has radically transform the financial ecosystem. A noteworthy case to point is the investment in digital payments infrastructure UPI, which has revolutionaliz the way whatsapp mobile number list money flows between businesses and consumers. The establishment of OCEN (Open Crit Establishment Network) democratizes the access to crit through digitalization, which strengthens to financial power of MSME’s and crit-borrowers in rural areas. Further, the incorporation of ONDC (Open Network Digital Commerce) creates a level playing-field by democratizing commerce and breaking the monopoly held by large corporations, empowering MSME’s and smaller businesses.
The developments in the capital markets is another sign of significant progress. The National Stock Exchange and Bombay Stock Exchange lay at the heart of Indian capitalism, increasing valuations of companies, thereby creating collective value for domestic and foreign investors. Corporations have several ways to raise capital and allocate resources, institutional investors have greater choice in asset classes. Cross-border capital flows have increas multiple times over the past decades. In the midst of global uncertainties, faith in Indian markets has risen.