Ajay Srinivasan on India’s 78th Independence Day Milestones

While there is much talk about the impact of US tariffs on India and what our position in the new geo politics is, it helps to know that India has a long history of some big inflection points that have made us the country we are. Maybe this trigger will also be an inflection point for us.  Recently, Ajay Srinivasan who is a leader in the financial services space and regular contributor to topical issues wrote an interesting blog on India/s inflection points since our independence. Let us have a look at what Ajay Srinivasan has to say.

Major Inflection Points In India's National History:

Ajay Srinivasan, who is one of the key names in the Indian financial sector and a former leader of Aditya Birla Capital, has talked about some of the major inflection points in Indian history on the occasion of our 78th Independence Day. So, let us take a look at some of those infection points are and their significance in modern-day India:

1950: The Adoption of the Constitution

This was one of the most significant steps towards building an independent, modern India. The adoption of the Constitution made India a sovereign, democratic republic. It helped establish a parliamentary democracy with fundamental rights and a federal structure. With the adoption of the Constitution, India continues to be the biggest democracy in the world.

1967 to 1972: Green Revolution and White Revolution

Now this is yet another significant tenure for India post its independence. During this time, we were introduced to high-yield seeds, irrigation expansion, and fertilizers. This helped transform the agricultural sector, leading to self-sufficiency in food grain production. It also helped reduce our dependence on imports. Famine vulnerability was reduced significantly. During this time, India was able to bring about a transformation in its dairy sector. Our country also became the largest milk producer in the world. This is one reason why India is so protective about its agri sector.

1991: Economic Liberalism

In 1991, India faced a massive balance-of-payments crisis. So, to combat the situation, our country initiated various wide-ranging reforms. This involved reduced import tariffs, deregulation, and opening up to foreign investments. Economic Liberation helped transform the Indian economy. This built the stage for decades of high growth. While the US tariffs aren’t as serious an issue as the BOP crisis of 1991, they do give the opportunity for more reforms.

1998: The Nuclear Test at Pokhran

In 1998, India conducted a number of underground nuclear tests. We also declared ourselves a nuclear state. This prompted international sanctions. It also positioned India as a strategic global power. India has always been balanced in its international relations, being responsible while keeping in mind its own interests. Today is no different,

2000: IT Boom

As per Ajay Srinivasan News, the Y2K and global demand for different kinds of IT services

triggered the Indian Software Industry to grow significantly and rise to global prominence. It helped unleash various entrepreneurial activities. The IT sector in India became one of the key drivers of value creation and employment. A lot of companies started to breed, which offered different types of IT services on a global scale. This put India on the global map in terms of business.

2019 to 2023: Digital and Infrastructural Push

During this time, a lot of significant developments took place in India, including the rollout of Adhaar, the rise of UPI services, and a transition to digital India. All these significant steps led to financial inclusion and improved payments. A lot of major infrastructure expansions also took place, including the development of roads, railways, metros, and airports. The rapid adoption of smartphones also helped shape rural and urban economies. The Golden Quadrilateral connected various major metros through modern highways. This further helped boost trade and logistics in the country. While many other economies are struggling with their infrastructure, India has made roads, renewables, ports and airports a priority.

2013 to 2023: Space Successes

In 2013, the Mars Orbiter Mission Mangalyaan made India the first Asian nation to reach Mars' orbit, and that too in the first attempt itself. In 2023, Chandrayaan 3 was launched. This made India the first country to land near the moon's south pole. This brought about significant development to India's space sector. Space is a key area of the future and India is poised to play a key role in this space.

Conclusion: 

As India continues to achieve extraordinary growth, the role of talent and an enabling eco system will always be valued. Ajay Srinivasan, a successful leader in his own right, gives us the perspective of where we have come from and what lies ahead. We expect India to achieve more extraordinary milestones in the upcoming years as well.