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Reshaping India in the New Global Context

Subhash C. Jain and Ben L. Kedia

This book traces the history of India’s progress since its independence in 1947 and advances strategies for continuing economic growth. Insiders and outsiders that have criticized India for slow economic growth fail to recognize all it has achieved in the last seven decades, including handling the migration of over 8 million people from Pakistan, integrating over 600 princely states into the union, managing a multi-language population into one nation and resolving the food problem. The end result is a democratic country with a strong institutional foundation. Following the growth strategies outlined in the book and with a strong leadership, India has the potential to stand out as the third largest economy in the world in the next 25 to 30 years.
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Chapter 5: Independent India

Subhash C. Jain and Ben L. Kedia

Extract

After independence, India successfully established a secular state with diverse cultures, religious traditions and languages. Independent India is unique and does not have the characteristics of a typical nation state. It represents oneness in the hearts of all people despite diversity of various dimensions. After independence, a major problem that the nation had to address was extreme poverty and economic development on all fronts became a major goal. While examining various development aspects, Indian leaders decided to seek economic prosperity through a planned effort. A new body called the Planning Commission was established to systematically create a five-year plan to undertake different programs for economic progress. It was also decided that public sector companies would play a major role in the industrial sector especially in the development of basic industries, such as steel, machine tools, aerospace and others.

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