Vineet Jain, managing director of The Times Group, said India’s vibrant democracy and demography, its independent outlook and its tireless spirit despite challenges within and outside, are its “great democratic dividends”.
“India is not an overnight miracle. It is a masterpiece,” Jain said at the 8th edition of the India Economic Conclave on Thursday.
“Always resolute in our dedication to grow, we continue to march relentlessly, steadfast and unstoppable despite the challenges at home and the disturbances around us,” he said.
India’s $3 trillion economy is the sixth largest economy in the world. The country is the third largest in terms of purchasing power parity and has the third largest unicorn ecosystem in the world after the US and China.
“We are an ancient civilization, but not one that has been paralyzed in the past,”
Jain said that India is among the fastest recovering countries from the Kovid-19 pandemic. He cited a recent paper by the International Monetary Fund which said that it has lifted people out of extreme poverty.
“We have achieved all this within 75 years of becoming a sovereign democracy.
And this is the most remarkable and heartwarming aspect of this exciting journey,” said Jain.
Talking about India’s democratic processes, Jain called it “a noisy and argumentative political process”, while “some countries have quelled dissent and adopted a brutal top-down approach to grow”.
“We have friends on the world stage as well, but there is no sympathy for any one country,” he said. Jain said that the road to India has neither been easy nor any shortcut.
“And that may have slowed us down at times, but that’s what made our climb intentional, sustainable and deep.”
“And it has earned us the respect and admiration of the world. And what’s more, we are only just beginning, especially if we let our demographics work in our favor. It is this relentless spirit that the world can see as one of the greatest dividends of our democracy. sees as.”
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