In recent years, India has emerged as a formidable force on the global stage, showcasing impressive economic growth and development under the leadership of Prime Minister Narendra Modi. While critics highlight challenges and unmet priorities, it is essential to acknowledge the significant strides made by India over the last decade. Modi’s administration has laid down a robust foundation for India to achieve its ambitious goal of becoming a developed nation by 2047.
Economic Growth and Reforms:
India’s economic landscape has undergone a dramatic transformation under Modi’s tenure. From 2014 to 2024, India’s GDP growth has averaged around 7%, making it one of the fastest-growing major economies in the world. This growth has been fueled by a series of bold economic reforms aimed at enhancing efficiency, promoting investment, and fostering innovation.
The implementation of the Goods and Services Tax (GST) in 2017 was a landmark reform that streamlined the country’s complex tax structure, creating a unified national market. This reform has improved ease of doing business and has increased tax compliance, contributing significantly to the economy. Additionally, the Insolvency and Bankruptcy Code (IBC) introduced in 2016 has strengthened the financial sector by addressing non-performing assets and facilitating faster resolution of distressed assets.
Infrastructure Development:
Infrastructure development has been a cornerstone of Modi’s vision for a developed India. The government’s focus on building world-class infrastructure is evident through initiatives such as the Bharatmala and Sagarmala projects, which aim to enhance road and port connectivity across the country. The construction of dedicated freight corridors, expansion of metro networks in major cities, and modernization of airports have all contributed to a more connected and efficient India.
The Pradhan Mantri Awas Yojana (PMAY) has made significant progress in providing affordable housing to millions of urban and rural residents, addressing one of India’s critical social challenges. The Smart Cities Mission, launched in 2015, is another ambitious project aimed at creating sustainable and citizen-friendly urban spaces through advanced infrastructure and technology integration.
Digital Transformation:
Modi’s government has championed the cause of digital transformation, recognizing its potential to drive inclusive growth. The Digital India initiative, launched in 2015, has revolutionized various sectors by promoting digital literacy, expanding internet connectivity, and enhancing government services through technology.
The introduction of the Unified Payments Interface (UPI) has transformed India into a global leader in digital payments. UPI’s seamless and secure platform has facilitated over 8 billion transactions per month, demonstrating the country’s digital prowess. Moreover, initiatives such as Aadhaar, the world’s largest biometric identification system, have streamlined welfare delivery and curbed leakages in subsidy programs.
Social Welfare and Inclusion:
Social welfare programs under Modi’s leadership have aimed at inclusive development, ensuring that the benefits of growth reach all sections of society. The Jan Dhan Yojana, which promotes financial inclusion, has brought over 460 million unbanked Indians into the formal banking system, empowering them with financial services.
The Ayushman Bharat scheme, launched in 2018, provides health insurance coverage to over 500 million vulnerable citizens, making healthcare more accessible and affordable. The Swachh Bharat Abhiyan, a nationwide cleanliness campaign, has significantly improved sanitation and hygiene, contributing to public health and well-being.
Energy and Sustainability:
India’s commitment to sustainability and renewable energy has also gained momentum under Modi’s leadership. The country has made substantial progress in expanding its renewable energy capacity, particularly in solar and wind energy. The International Solar Alliance, initiated by India, aims to promote solar energy adoption globally and has garnered support from over 100 countries.
The Ujjwala Yojana, which provides free LPG connections to poor households, has improved access to clean cooking fuel, reducing health hazards associated with traditional biomass cooking methods. This initiative has had a transformative impact on the lives of millions of women, enhancing their quality of life and economic opportunities.
Global Diplomacy and Strategic Influence:
India’s foreign policy under Modi has been characterized by proactive diplomacy and strategic engagements. The Act East Policy has strengthened India’s ties with Southeast Asian countries, while initiatives like the International Solar Alliance have positioned India as a global leader in climate action.
India’s membership in key international forums such as the G20 and the BRICS has amplified its voice in global economic and geopolitical matters. The Quad partnership with the United States, Japan, and Australia underscores India’s growing strategic importance in the Indo-Pacific region.
Data:
| Indicator | 2014 | 2024 | Change |
|---|---|---|---|
| GDP Growth Rate | 6.4% | 7% | +0.6% |
| GST Implementation | No | Yes | – |
| UPI Transactions (monthly) | 0 | 8 billion | +8 billion |
| Financial Inclusion (Jan Dhan) | 0 | 460 million | +460 million |
| Health Insurance Coverage (Ayushman Bharat) | 0 | 500 million | +500 million |
| Renewable Energy Capacity (GW) | 35 | 175 | +140 |
Conclusion:
As India aspires to become a developed nation by 2047, it is crucial to recognize the substantial progress made under Prime Minister Narendra Modi’s leadership. Economic reforms, infrastructure development, digital transformation, social welfare initiatives, and a commitment to sustainability have all contributed to India’s rapid transformation.
While challenges remain, Modi’s governance has set a strong foundation for future growth and development. India’s journey towards becoming a developed nation is a testament to its resilience, innovation, and unwavering commitment to progress. With continued focus and determination, India is well on its way to realizing its ambitious vision for 2047.
