As we watch, with justifiable pride, the steady march of India’s GDP towards Olympian heights, we must also take note of some issues of concern, lest harsh reality be overtaken by euphoria.

First, a very large proportion of the GDP is contributed by the so-called informal or unorganised sector. Second, India’s per-capita GDP is $2,487, against the world average of $13,710, placing it at the 136th position among 188 countries, as listed by a UN survey. The last and most serious issue of concern is growing inequality, with one study claiming the top 1% of India’s population has cornered about 40% of its wealth.

Two oft-heard statements, in this context, are: “A rising tide will lift all boats” and “The trickle-down effect will take care of everything”. This author is no economist, and, therefore, unable to comment on the validity of these prophesies, but there is no gainsaying that steady economic growth is the only panacea for most of India’s ills.

It would, however, be delusionary to assume that India’s rise is guaranteed, and that it is pre-destined to attain “great power” status by 2047.

The reality is that to achieve its full potential, India requires a strategic approach that integrates prudent economic policies with a robust security framework, anchored in inclusive and empathetic politics.

Above all, we must face the fact that India needs peace and tranquillity, since not only are wars expensive, they divert national resources away from development. Today, India’s complex security environment is shaped not only by China’s hostility,........

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