The first piece in the series – Dynamic India: Keeping it Home, outlined three broad objectives for the Indian Economy and the choices that these will force. What is common and clear these choices are:
National choices and investments will have to extend past governments and managements on a long time scale (reflected already in pharmaceuticals, semiconductors, and defense)
Strategies beyond technologies or events will be required to sustain policies (multiple industries)
Individuals must be able to predict mid-term outcomes to be willing to invest by families in education and careers
Choices cannot be made in isolation from larger trends and priorities in global landscapes
Bureaucracies (government, corporate, social) must adapt and transition as changes occur
The choices, and selections, have been discussed and directions picked over decades. The difference for a Dynamic India is that choices made now need to consider past successes and failures of similar initiatives. The reality is choices may be limited. Potential constraints from external forces (limited access to foreign markets, rapid technological change, legal frameworks (e.g., intellectual property rights), internal forces (achievable rates of change to social and cultural expectations), and events (Covid-19/global health, conflicts, monetary landscape). In tactical terms, the agility of Dynamic India is challenged. In strategies, the resilience of investment and actions will be weighed. In sustainability, the coherence and continuity of strategies and policies will be measured. Across selections making and adapting choices will be critical.
The key is Dynamic India has progressed to where options and choices are available. The need is for India to make selections and act to implement the selections. Failure to act will cause many more challenges and fewer choices than any other course. Dynamic India has the control to make these selections because it made choices (right and wrong) in the past. The future awaits.
You can read this and other thought pieces about the potential for Dynamic India at www.ekalore.com/india-business
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