Unlocking Potential: How ‘Apurva Bharat’ Can Transform Aspirational India into a Global Powerhouse

On January 20, a Chinese tech start-up made headlines by launching DeepSeek, the nation’s first generative AI chatbot. It quickly gained attention and led to a notable selloff in US tech stocks, erasing nearly $1 trillion in market value in just eight days. This event is part of a larger competition in technology and economics between global powers.

Going back a few decades, the US experienced tech booms, like those in Silicon Valley in the 1980s and the dot-com rush in the 1990s. During this time, rising costs at home pushed the US to outsource jobs, especially to countries like China and India. American leaders believed their focus on innovation would keep them at the top, but that hasn’t been the case.

Countries such as China and India have made major strides in technology, which is concerning for US policymakers. Today, instead of fostering innovation, the US has turned inward. This shift is prompting countries worldwide to reevaluate their strategies for economic growth.

Interesting statistics highlight the growing importance of India in this landscape. Currently, the US is India’s largest trading partner, with a trade volume of $130 billion, heavily favoring India. This situation puts India in a tricky spot: should it protect local businesses by raising trade barriers, or should it open up more to international markets?

From a cost perspective, India has an edge in labor. The minimum wage in the US sits at $7.25 per hour, while in India, wages can be significantly lower, making it an attractive option for industries like textiles and IT services. With knowledgeable entrepreneurs emerging, India is ready to compete on a global scale, as shown by individuals like Lakshmi Mittal, who built one of the world’s largest steel companies.

Historically, India was a major player in global trade, contributing 15% to 25% of it before colonization by the British. Its traders were well-established along crucial routes, earning the label of “the sink of the world’s gold” from Roman Emperor Pliny the Elder.

Despite this rich history, many modern Indian entrepreneurs have tended to focus on domestic markets. They need to expand their reach to unlock not just personal success but national growth.

Prime Minister Narendra Modi has a vision for India, encouraging it to be seen as an aspirational nation, branded as Apurva Bharat. A sense of national pride can improve collective behavior. For instance, successful projects like ISRO’s Mars Orbiter Mission inspire youth, and business stories like that of Dhirubhai Ambani motivate people to dream.

Now is the perfect opportunity for India to step onto the global stage. Rather than simply focusing on self-sufficiency, a confident India should embrace its strengths, pursue trade agreements, attract foreign investments, and integrate into global supply chains.

In the words of Dr. Manmohan Singh from his historic budget speech in 1991, “No power on earth can stop an idea whose time has come.” For India, that time is now. To learn more about the challenges and opportunities facing global economies, you can check out reports by authoritative sources like the World Bank.



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Apurva Bharat, DeepSeek, ChatGPT