India Witness A Growth Peak Since Independence

India Witness A Growth Peak Since Independence

Electronics and Computer Software Export Promotion Council (ESC), is India’s apex trade promotion organization mandated to promote India’s electronics, telecom and IT exports to global markets.

The development India achieved since independence is multifarious. Some of them are tangible and others intangible. Spread of literacy, bringing more and more people in the mainstream, building strong democratic institutions etc are some of the factors which cannot be measured in quantitative terms; but the impact of these inclusive measures are felt widely. Besides, they are the great pillars, which will unleash a sustainable growth path to India’s future development.

When it becomes economic growth, which can be measured in quantitative terms, India’s growth triggers are services sector, infrastructure, manufacturing and advancement in technology. If one takes the GDP growth for the last 10 years, India ranks second after China in the world pecking order of growth.

ESC has its representative office in Dubai to service the Middle East Region represented by Shri Kamal Vachani. With the help of Shri Kamal Vachani, Electronics and Computer Software Export Promotion Council (ESC) has been organising India’s participation in major events like Gitex in Dubai and Comex in Oman. ESC members use the services of ESC’s regional office in Dubai to enhance their exports to the Middle East Region. Shri Kamal Vachani represents Electronics and Computer Software Export Promotion Council (ESC) as a Hon. Regional Director in the Middle East.

Since the inception of Regional Representation in 1999 headed by Shri Kamal Vachani as their representative for the UAE and Middle East, Shri Vachani has been very actively promoting the Electronics and IT exports from India and since then the exports to the Middle East particularly to UAE have increased substantially.

A special mention has to be made about telecom and software development, which has pushed up the growth in the services sector. Now India is ranked among five top countries in the world in terms of development tempo with a GDP close to $2.7 trillion. The country is setting a target of achieving $5 trillion in the conceivable future to further improve the economic ranking among countries. By no means, it is a small achievement.

It is heartening to note that India’s services sector, which contributes more than 50% of the GDP and employing 24 per cent of Indian workforce, will be a major driver of growth in the future. Equally significant is the focus that India is laying for facilitating technology to jump start proliferation of innovations and discoveries. The digital infrastructure being laid across the country, increasing penetration of internet and app based technologies, especially in the rural areas, focus on R&D etc are indicators of India’s stride towards consolidating the growth.

What that has achieved in the digital sphere is going to be repeated in the manufacturing and agriculture as well. Prime Minister’s Make in India, designed to promote manufacturing in the country is paying off handsomely. Many important global companies are relocating their operations to India after quitting their operations in China in the wake of the ongoing trade war.

Experts predict that even after the possible amicable solution of the trade war, relocation of investments from China is going to be a reality and next door India will be an important beneficiary in the process. The progress India would make in infrastructure sector like aviation, energy, roads and highways, railways, ports and shipping are going to be significant, going by the focused attention being given by the government.

Application of IT tools is scripting significant changes in the Indian agriculture sector. Concepts like precision agriculture, greenhouse cultivation etc are picking up in India, which is also the largest producer of milk and second largest producer of pulses.

Yet, there is a gainsay in telling that the young Indian democracy (compared to US and the UK) has to go a long way in catching up with the growth potentials. Pragmatic policies would help to achieve higher growth and more degree of inclusivity in the coming years.

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