{"id":130270,"date":"2021-08-31T20:20:25","date_gmt":"2021-08-31T14:50:25","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=130270"},"modified":"2021-09-01T18:07:32","modified_gmt":"2021-09-01T12:37:32","slug":"a-power-cut-for-india","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/a-power-cut-for-india\/","title":{"rendered":"A Power Cut For India"},"content":{"rendered":"

Source<\/strong>: This post is based on the article \u201cA Power Cut For India\u201d published in The Times of India on 31st August 2021.<\/p>\n

Relevance<\/strong>: This article explains the link between India’s economic performance and geopolitical developments.<\/p>\n

Synopsis<\/strong>:<\/p>\n

The setback in Afghanistan highlights a recent decline in the country\u2019s geopolitical & economic weight.<\/p>\n

Context<\/h5>\n

India’s external environment and domestic foundations have facilitated India\u2019s rise as a major power in the post-Cold War period. But the geopolitical setback in Afghanistan and prolonged economic underperformance at home have raised questions about the government\u2019s policy, priorities and strategic objectives in the near term.<\/p>\n

What is the state of India’s economic performance?<\/h5>\n

After three decades of annual average growth of national income of around 3.5%, during 1950-80, the economy grew at 5.5% during 1980-2000 and 7.5% thereafter. During the \u2018golden era\u2019 of growth, 2003-10, the economy grew at over 8.5%.<\/p>\n

This acceleration of economic growth enabled a decline in poverty, a rise in employment and urbanisation, a doubling of the share of external trade<\/strong> in national income and more than a doubling of the share of Indian exports in world exports. The emergence of globally competitive Indian firms and professionals defined the \u2018rising India\u2019 narrative<\/strong>.<\/p>\n

How economic performance helped to increase India’s geopolitical performance?<\/h5>\n

A report of the Indian National Security Advisory Board (NSAB) (chaired by the late K Subrahmanyam) was observed in 2000, \u201cEconomic power is the cornerstone of a nation\u2019s power in the contemporary world<\/strong>.\u201d India has so far lived up to the point. For example,<\/p>\n

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  1. The global countries, especially the US, Japan and Australia, imposed sanctions<\/strong> on India after the Pokhran-II nuclear weapons test in 1998.\n