How India is fully prepared for 21st century
I was with Nandra Modi, the prime minister of India when he quoted that “even poor man should have dignity” which is the reason why he built 110 million toilets in 60 months. The world is amazed that toilets have been provided to more than 600 million people. Modi said; “No one was ready to […]
I was with Nandra Modi, the prime minister of India when he quoted that “even poor man should have dignity” which is the reason why he built 110 million toilets in 60 months. The world is amazed that toilets have been provided to more than 600 million people. Modi said; “No one was ready to believe earlier that India will become open defecation-free in such a short period of time. Now, it is a reality.” The World Health Organization estimated that Modi’s Clean India campaign could prevent the death of at least 300,000 people from diarrhea and protein-energy malnutrition between 2014 and October 2019.
According to IMF world economic outlook 2009, forecast data for 2019, GDP & current prices; Indian’s economy become the 5th biggest in the world, overtaking France. In recent years, India’s GDP growth has been among the highest in the world.
According to McKinsey Global Institute, urbanization has driven increased in domestic consumption and technology has improved efficiency and increased productivity. But challenges remain for india; like increasing access to sanitation and clean water, ensuring rural areas aren’t left behind in the economic boom, and dealing with India’s urban air pollution problem.
India’s rise has been rapid, its economy was 9th largest as recently as 2010. As forecasted, by 2024, it could be as big as Germany’s economy, which is currently the 4th biggest economy.
I was with Narendra Modi when he highlighted the following goals for India;
That India will invest a massive USD 100 billion in oil and gas infrastructure to meet the energy needs of an economy that is being targeted to nearly double in five years. India is investing heavily in oil and gas infrastructure, as much as USD 100 billion will be spent by 2024 in creating additional oil refining capacity, laying new pipelines and building gas import terminals. India needs investments in the energy sector to meet the demand of a fast-expanding economy. And the prime minister has requested energy companies that were present with us to take advantage of this opportunity.
Saudi national oil company Aramco has decided to invest in the 60 million tons a year West Coast refinery project in Maharashtra, which will be Asia’s biggest refinery. Narendra Modi want to ensure that India’s rate of growth is going to rise further. They are taking steps for the growth of their economy. They are improving on their ease of doing business ranking. Due to political stability, predictable policy, and big diverse market, people investments in India will be most profitable.
The requirement of physical infrastructure is in developing countries. Asia requires USD 700 billion per year for infrastructure development. India have set an investment target of spending USD 1.5 trillion on infrastructure development in the next few years. This target includes oil and gas plus other infrastructure such as roads, airports, and ports.
India is targeting to nearly double the size of its economy to USD 5 trillion in the next five years. Five big trends impacting global businesses are technology and innovation, infrastructure, human resources, compassion for the environment and business-friendly governance.
Indian start-ups are acing everything, from food delivery to transport, to hospitality, to medical treatment, to tourism. India is integrating infrastructure through one nation one power grid, one nation one gas grid and one water grid, one nation, one mobility card, one nation one optical fibre network. Infrastructure growth in India will be in double-digit and there is no possibility of capacity saturation.
Abubakar Usman Abubakar [email protected]