Four important strategies for our Economy to prosper is that of: 1) Inclusive growth 2) Environmental concern 3) Investment in innovation 4)Curbing of Black Money thus explaining each of them.

1. C O M P E T I T I V E S T R AT E G I E S F O R E C O N O M I C
G R O W T H
Emergence of India as an
Economic Super Power: Challenges
and oppurtunities.

2.  Economic inequality has been the law of the nature, where there are rich
people in an economy there are also poor ones. For that matter economy itself
is not constant, where one sector of an economy might benefit at a particular
time and the other might face loss, the situation may revert at yet another
point
of time.
 What makes a country an economic super power? Development does.
 Development of an economy can be measured in terms of it’s average growth
rate, science and technological advancement and various other factors that are
significant to the infrastructure of the economy.
 The form of Government that prevails in a country plays a huge role in it’s
economic growth. Democracy is the most preferred one. As Amartya Sen, in
his book, “Development as Freedom” says, “economic growth is more a
matter of friendlier economic climate than of a harsher political system.”
 India is expected to emerge as an super economic power in the coming years
as

3. Agriculture and industry are regarded as the body and bones of
Indian economy, transport and communication are the nerves
which help in circulation of men and materials.
 At the same time, being a developing country it also faces the
challenge of having large number of uneducated people,
hospital
facilities, gender inequalities and corruption.
 Therefore competitive strategies for the economic growth
should be
i. Inclusive growth strategies
ii. The environmental concern
iii. Investment and innovation
iv. Curbing of black economy.

4.  The Economic survey 2013 has estimated that by 2021, 64 % of the
country’s population will be in the working age i.e.; between 15-59 years.
 With a fall in the number of people dependant on agriculture, the
contribution of this sector to the growth component also has been low.
(3.6 % as per the eleventh five-year plan).
 there is a need for creation of new jobs not only for the emerging
workforce but also equal allotment in those sectors where there is over
employment.
 Government schemes to focus on vivid objectives and not to overlap each
other.

5. IT sector is booming in the Indian economy. However it is faces the
problem of outsourcing of many able and qualified Indian
workforce
to foreign companies.
 Gender inequality is prevalent to a large extent.
 As per the U.N, India has the largest population of illiterate adults
(287 million). Education is still a privilege to many.
 Expansion of healthcare facilities under public sector is essential.
Also the quality of treatment facilities to be improved.

6.  A report released by the United Nations Environment Programme (UNEP)
identified the presence of a 3km blanket of brownish layer of pollution spread
over South Asia and most of the Tropical Indian ocean mostly by forest fires,
burning of agricultural wastes, fossil fuels etc. India is predicted to be one of
those countries to be grossly endangered by global warming and pollution.
 We are not only the largest producer of energy but also a major consumer.
The economy depends largely on coal and hydro power to meet it’s energy
needs.
 Ganges, believed to wash of sins, has been found to be the most polluted.
 Effective strategy for waste disposal
 Environmental awareness regarding use of technology, conducting of business
and everyday life to be emphasized.
 An accomplishment, the Karnataka policy on bio fuel production from hotel
waste is likely to be taken up as a model for other developing countries in Asia
and Africa as per a study conducted by the World Agro Forestry Centre.

7. Since 1996 India has signed a total of 82 Bilateral Investment Agreements
with various countries, of which 72 have come into force.
 China stands to be the country with large number of foreign investment
rate.
 Foreign investments help not only in effective growth but also causes
technological advancement and more jobs. Moreover they enhance the
establishment of good trade ties between the countries.
 India is the world’s largest producer of films and our competency in
pharmaceuticals is also well established. Investment in theses areas
should
be considered.
 Also it is necessary that the government should take up new projects and
also implement those which have already been taken up.

8. The Government of India, in it’s twelfth Plan has called the period
between 2010-20 as “the Decade of Innovation.” It has taken initiative
on
connecting 2,50,000 panchayats through broad band for better
governance.
The culinary industry in India has in fact turned innovative, where
internet is in usage for almost everything these days, they have tended
to
reach out to customers through their apps and websites like
Zomato.com
,BYT etc.
 China’s investment in research and development as a share of it’s
national wealth has doubled since 1999, in science and engineering
articles it’s share has risen six fold since the mid 1990’s from 9000 to
nearly 57000 each year.
 Risks should be allowed to taken by the government in order to
facilitate

9.  Corruption is on rise in India. The money that goes unaccounted for can
be if brought into the mainstream, can add up to the growth percentage of
the economy.
 According to the latest figures released by the Swiss National Bank,
Indians in Swiss banks held about Rs 9000 crore at the end of 2012.
 Statistical evidence has proved that higher corruption is associated with
i. higher(and more costly) public investment
ii. lower government revenues
iii. lower expenditures on operations and maintenance
iv. ensuing lower quality of public infrastructure.

10. Not only is India a country with second largest economy, it is a
country of ancient tradition and culture.
The law of the land is established on the principles of democracy,
secularism and equality.
The time is not far when India would emerge as an economic
power and inspire all other countries.
THANK YOU