Lets look at some ways in which there is positive movement towards the changes that can move India into the realization of becoming an economic super power.
Some Indians are actively pushing for a more open economy. For instance, the Centre for Civil Society, headed by Parth Shah, helped organize a recent international conference of the Mont Pelerin Society in New Delhi. The CCS works for a freer Indian economy and society. One of its most important initiatives is an educational voucher program that empowers poor parents to provide a good education for their children.
India's widely dispersed Diaspora — apparently the world's largest after Mexico — also could help spur future economic growth. Ethnic Indians have demonstrated their entrepreneurship around the globe, including in America. A more prosperous India already has begun to draw its sons and daughters back home. More reform would encourage more investment and trade from emigrants.
A wealthier India obviously would benefit its people. A stronger India also would enhance a regional balance of power in Asia.
New Dehli's relationship with China has long been strained, yet today New Dehli is playing a well more active geo-political role in its attempts to balance relationships with China.
For instance, India has initiated a "Look East" policy, which includes improved relations with several Southeast Asian nations, including Indonesia, Malaysia, and Vietnam. Six years ago New Delhi signed a strategic partnership agreement with the first, the globe's most populous Muslim state and an emerging power in Southeast Asia. In January India added investment and trade accords with Jakarta.
India has inked a free trade agreement with ASEAN and is discussing widening the pact to investment and services. New Delhi also has negotiated a free trade agreement with Japan. Moreover, India is active in Burma, heretofore almost a satellite of China.
Equally important, New Delhi is playing a more active military role, increasing outlays and participating in naval maneuvers with Japanese and Vietnamese forces. India has developed an expanding nuclear arsenal and possesses an aircraft carrier, a weapon currently absent from China's arsenal.
There exists an improved relationship between New Dehli and the USA, however a formal alliance is not in America's interest and Indian officials won't act as Washington's tool to contain the PRC. However, both nations have an incentive to cooperate in constraining China's potentially aggressive tendencies. Deepak Lal argued: "It is in India's long term interest to recognize that the continuance of its liberal democratic open economy also requires it to support and, if necessary, take over the imperial burden from the U.S."
In conclusion, China is rising. But so is India. Sadanand Dhume pointed out that the latter has "core strengths — competitive private companies, a vast cohort of competent engineers and managers, a growing middle class and the cushion of long-term stability provided by democracy." However, New Delhi needs to recommit itself to economic reform for its people to fulfill their enormous potential.
If India does so, it will share in the leadership of the 21st century. And the world will likely be freer and more prosperous as a result.
No comments:
Post a Comment