India@75: Celebration to aspiration

Numbers that tell a story!

BRITISH RULE:

India’s share of the world economy was 23% when the British arrived on its shores, by the time they left it was down to below 4%.

India, from being a world-famous exporter of finished cloth became an importer, with its share of world trade reduced from 27 percent to less than 2 percent.

Tax and trade data suggest that Britain plundered almost $45 trillion from India during its colonial rule. This amount is almost 17 times the current combined GDP of Britain and India.

India’s journey since its independence in 1947 from colonial rule, has been a journey of resilience and resolve. With a GDP of $3 trillion, it is one of the five biggest economies in the world today. When adjusted for purchasing power it is the third biggest economy in the world after China and the United States.

1. PER CAPITA INCOME: In 1947 India’s per capita income was $2.89 to $2000 in 2022
2. INDIA’S SHARE IN GLOBAL GDP: From 3% in 1947 and 7.2% (PPP) in 2019
3. POPULATION:?In 1951, India's population was 361 million and 1.4 billion in 2022
4. LITERACY RATE: 12% literacy in 1947 to 77% in 2022
5. AVERAGE LIFE EXPECTANCY: From 32 years in 1947 to 72 years in 2022
6. FOOD PRODUCTION: From receiving food aid in the 1950s and 1960s to becoming a net food exporter, Green Revolution helped see a turnaround in food production. From 55 million tonnes of food production in 1950 to 306 million tonnes in 2020-21
7. DAIRY SECTOR: World's biggest dairy development program (White Revolution) transformed India from a milk deficient nation into the world's largest milk producer
8. AUTOMOBILE SECTOR: From 4000 units in 1950 to 23 million units in 2022 – India is the world’s fourth-largest vehicle market
9. TELECOM SECTOR: From 80,000 landline subscribers in 1947 to becoming the world’s 2nd largest telecom market with a subscriber base of 1.16 billion
10. ROAD NETWORK: From 0.4 million kilometres of roadways in 1950 to 6.4 million kilometres in 2021. Today, India's road network is the 2nd the second largest in the world
11. RAILWAY NETWORK: One of the world’s largest railway networks comprising 119,630 km of tracks and 7,216 stations. Indian Railways is the largest employer in India with over 1.6 million employees
12. POVERTY: From 2006 to 2016, India lifted 273 million people out of poverty, an achievement for a post-colonial India that has suffered from four major wars (none of which were started by India) and a lot of domestic challenges since independence
13. LIBERALISATION, PRIVATISATION, GLOBALISATION – In 1991, Indian economy opened the doors for free trade by foreign investors. With just $1.2 billion worth of forex reserves in 1991, to $600 billion in 2022, India has the 5th largest forex reserves in the world
14. FOREIGN DIRECT INVESTMENT – From just $97 million in 1991 to $82 billion in 2021?
15. STEEL SECTOR: India's crude steel production was 1.2 million tonnes in 1947 and 118 million tonnes in 2021
16. FROM IMPORT DEPENDENCE TO MAKE IN INDIA – India has over 5000 registered foreign companies operating in India
17. DIASPORA - The Indian diaspora is the largest in the world, and the remittances sent home ($87 billion in 2021) are also the highest globally.

A market that has the world’s third largest start-up ecosystem with over 100 unicorns, today?1 out of every 10 unicorns?globally is born in India. With over 1.2 billion mobile connections, 700 million internet users, and 600 million smartphones, which are increasing by 25 million per quarter, fuelled by an abundant supply of tech talent in the country. As 3rd largest pharmaceutical industry in the world by volume, the 5th largest exporter of textiles and apparel, by 2027 India will be the world’s fifth-largest economy, with a GDP of $5 trillion. India’s stock market in terms of its size is the fourth largest behind only America, China, and Japan. India is the only country in the world with a billion bank accounts, billion mobiles, and billion biometrics. So, New India is aware that it is transitioning from being a factory to emerging as a marketplace of the world.

India@75 is a country of hope, optimism, and aspiration.