Transforming India’s Development Journey: From a Developing Nation to a Developed India

India, currently classified as a high middle-income nation, has witnessed significant progress in its development journey. In 2023, the average annual salary in India is approximately $8,000, while the per capita income stands at around $670 per month. India's GDP stands at $4 trillion, ranking it 5th globally, and the GDP PPP is $13.5 trillion, ranking it 3rd in the world. Furthermore, India is the 7th largest importer, bringing in $600 billion annually, and the 4th largest exporter with $1.4 trillion in imports.

Despite these advancements, India remains largely dependent on its manufacturing sector, which employs 50% of its workforce and generates 48% of the country's GDP. However, only 20% of employed Indians are in tertiary industries, while only 10% work in quaternary industries, indicating a need for further economic diversification and development.

Strategies to Drive Economic Growth and Development

Several strategic initiatives can accelerate India's transformation into a fully developed nation. Here are some key approaches:

1. Making English the Primary Language of Business and Politics

The promotion of English as the primary language for business and politics can significantly unify the nation. With over 600 million English speakers in India, this would facilitate better communication and integration between different regions, especially the Southern states. While it is important to preserve regional languages, standardizing a common business language can foster greater economic collaboration and innovation. This does not imply the complete abandonment of regional languages but rather the adoption of English as the lingua franca in business and political discourse.

2. Abolishing the Caste System

The caste system, deeply entrenched in certain rural areas, continues to hinder social and economic mobility. Eliminating this system is essential for fostering a fairer and more equal society. By making the caste system illegal and promoting equal opportunities, India can move towards a more cohesive and unified nation. This initiative will encourage social harmony and enhance the overall development of the country.

3. Enforcing Strict Business Laws

India ranks among the easiest nations for doing business, but it lags in enforcing company laws, placing it in the bottom 40 countries globally. Strengthening regulatory frameworks and enforcing business regulations can attract more foreign investment and domestic entrepreneurship. This will not only enhance the country's economic performance but also create jobs and reduce poverty. Improved business environments foster a more dynamic and sustainable economy.

Conclusion

While India has made remarkable strides in its development journey, several key strategies can further accelerate this process. Implementing these measures will not only transform India into a fully developed nation but also ensure sustainable growth and prosperity for its citizens.

By embracing these changes, India can achieve its vision of becoming a developed nation by 2035. The journey towards development is ongoing, but with the right policies and commitment, India is well on its way to realizing its full potential.