Operation Sindoor won't hurt Indian economy

 Operation Sindoor won't hurt Indian economy

By Gopal Krishna Agarwal,

The BJP leader addressed fears in some quarters that India’s military response to Pakistan would impact the economy amid ongoing geopolitical tensions and a global tariff war.

Operation Sindoor will not have any adverse effect on the Indian economy, BJP national spokesperson Gopal Krishna Agarwal said on Friday. Addressing a press conference in New Delhi. Agarwal sought to dispel fears in some quarters that India's military response to Pakistan following the terror attack in Pahalgam would impact the economy amid ongoing geopolitical tensions and a global tariff war.

There will be no negative impact, as India has never had significant economic relations with Pakistan," the BJP leader said. "On the other hand, as Prime Minister Narendra Modi said yesterday, if Pakistan does not stop terrorism, its economy will be completely destroyed."

Agarwal emphasised the strength of India's defence capabilities, underlining that 65 percent of the country's defence requirements are met through domestic procurement. India's PSUs -long seen as a liability- have shown exemplary market performance and profitability, especially in the defence sector, with defence exports also rising rapidly, he said.

"You will find companies like Hindustan Aeronautics and Mazagon Dock have orders booked years in advance," Agarwal said. "The BrahMos missile and the HAL Tejas combat aircraft have acquired a global reputation."

He also highlighted India's growing global engagement and strengthening diplomatic ties with the United States and European nations. Agarwal referred to PM Modi's statement during the Russia-Ukraine war, in which he tweeted, "This is not the era of war."

"This assertive message echoed globally, urging both nations to resolve their issues through dialogue. His call for peace received significant international praise and support," Agarwal added.

The BJP spokesperson also referenced External Affairs Minister S Jaishankar, asserting that India seeks equal partners, not "preachers."

India's global confidence is growing.

He noted that growing global confidence in India is mirrored in domestic stability. Despite rising inflation worldwide, India has managed to keep price inflation under control at 4.4 percent, lower than the RBI's target band. While fiscal deficit levels have reached alarming levels in countries like the United States, India has kept its deficit under control. Agarwal also noted that India's foreign exchange reserves stand at $700 billion, even as the country continues to attract significant foreign direct investment.

He also pointed to global praise for India's Digital Public Infrastructure, especially at the G20 summit held in 2023. This includes the Direct Benefit Transfer (DBT) scheme, which directly transfers welfare benefits into beneficiaries' bank accounts. He highlighted the exponential growth of India's capital markets, citing Morgan Stanley reports that project India's capital market-currently at 81,000-to reach 1,00,000 by 2026.

The BJP leader acknowledged that challenges remain, particularly due to the ongoing global tariff war and its disruptions. However, Agarwal suggested that this may offer India an opportunity to present itself as an alternative global manufacturing hub, referencing Apple's recent substantial investment in Bengaluru.

"Compared to our competitor countries, our reciprocal tariffs remain low. We will take advantage of this." Agarwal said. He also noted that, according to the RBI's May bulletin. India's manufacturing sector is expected to remain strong even if the country does not become a global manufacturing hub-thanks to its robust domestic consumption base.

The BJP leader also referenced the recent HSBC composite PMI index for India, which stood at 61.2. Indicating expansion in both the services and manufacturing sectors.

Agarwal cited other reports, including those by Moody's and Fitch, highlighting India's strong growth potential. "The economy is driven by perception, and the sentiment around India is very positive," he said.

The press conference underscored the Modi government's ongoing commitment to fostering economic growth through strategic reforms and policy initiatives. The creation of the Deregulation Commission aims to reduce bureaucratic hurdles and improve the ease of doing business, aligning with Finance Minister Nirmala Sitharaman's recent warning against overregulating enterprises and the role of the Competition Commission of India. Efforts are also underway to implement labour law reforms at the state level and to accelerate the finalisation of trade agreements, thereby enhancing India's global trade prospects. At the same time, significant initiatives are being rolled out to expand the country's renewable and nuclear energy capacities.

 (The writer is National Spokesperson of BJP)

NATIONALISM, DEMOCRACY AND POLITICS

 NATIONALISM, DEMOCRACY AND POLITICS

By Gopal Krishna Agarwal,

Amidst the ever-changing dynamics of global and internal politics, Prime Minister Narendra Modi shows how a leader should paddle the responsibilities of nation on one's capable shoulders.

BY 2014, Bharatiya masses were absolutely fed up with the tyranny of the unelected bodies like National Advisory Council (NAC), judicial overreach and political corruption and voted in the national democratic alliance (NDA) under Narendra Modi with a thumping majority. People wanted a strong leader who was proud of Bharat's heritage, practices and tradition, assured the sanctity of its international borders and guaranteed peace within, and follow the policy of Nation First.

FEAR MONGERING TACTICS

Fears were raised by the opposition that if BJP under Modi was voted to power, Bharat's relations with Islamic countries, especially the vital Middle Eastern Block, would nosedive. None of these preposterous prophecies came true. In fact, over the years Bharat's relations with Gulf countries has seen significant improvement. The first Hindu temple in the region was inaugurated by PM Modi in Abu Dhabi. Happy with the performance of the Modi government, people have voted him back to power for the third successive term. However, the opposition parties, particularly leader of opposition Rahul Gandhi, are leaving no stone unturned to undermine Narendra Modi to the extent that he continues with is anti-Bharat tirade in alliance with international Left-liberal forces.

REBUTTAL BY BIGGIES

Now, it seems that the nightmare of Left, social democrats and self-certified liberal leadership across the world is not going to end anytime soon. They cannot ever fully recover from the speeches from Prime Minister of Italy Giorgia Meloni, US Vice President JD Vance and President Donald Trump made in the recent past Right leaning leaders are speaking their mind, and this has encouraged candour and free speech across the globe. The Left is in retreat.

In her speech at CPAC in February this year, Meloni mentioned that Bill Clinton and Tony Blair created global leftist liberal network, and they were hailed as statesmen by this cabal. Today this same associated group, with its tentacles spread to academia, media, film and television industry brand popular conservative leaders like Modi as threats to democracy. The moral hectoring that the voters in any country that votes for a conservative, right leaning government receive is unbelievable.

INTERNATIONAL POLITICAL DYNAMICS

This is also very much evident right now in Germany where a new party Alternative for Germany (Afi)) has emerged as a popular choice. AfD prioritizes German sovereignty and culture and Western values, and the traditional left leaning parties feel threatened.

However, instead of responding to the wishes of the people, as a party is expected to in a democracy, the incumbents looked for ways to keep AID out of the electoral fray. In December last year, the Romanian presidential election was annulled by its top court on flimsy ground of Russian influence only because the winner, Calin Georgescu was considered far-right and a NATO critic. He was later declared ineligible to contest elections by the Central Electoral Bureau of Romania, and the decision was upheld in Romania's constitutional court.

The latest in this series is the conviction of France's right leaning leader Marie Le Pen on the charges of diversion of public funds for political purposes. She has been declared ineligible to contest election for five years. Effectively ending her political career. The playbook of the Left is simple: keep patriotic leaders away from contesting elections by unleashing a witch-hunt against them through their ideological partners in the judiciary. This allows these parties to maintain a façade of being democratic while ensuring that mass leaders do not get elected.

THE PROBLEM OF LEFT

Why is it difficult for the Left to accept that faith, practices and tradition matters to most of the people even today? Is it because they see these values as obstacles in their aim to capture the state and its instrumentalities? The idea of political correctness is also strange. Something that is obvious and appeals to common sense becomes politically incorrect just because the Left does not approve of it. Anything that is consistent to Left's worldview becomes politically correct!

Whatever it may claim, one must understand that Leftist ideology is intrinsically anti-national and anti-democratic. It believes in complete capture of state machinery to perpetuate their rule and relies on woke ideology to brainwash the young and the impressionable. They do not believe in the ability of people to decide for their own selves.

TROUBLING RESEMBLANCE IN BHARAT

We see disturbing parallels in Bharat. Congress believes and acts as if it has the natural claim to rule over Bharat. It refuses to accept electoral verdicts and attacks the institution of the Election Commission of India and the EVMs when it loses. It shows similar attitude towards investigation authorities, as in the National Herald case and even judicial pronouncements, undermining court orders when they are unfavourable to them. In January this year, Rahul Gandhi declared that the Congress Party is not only fighting the BJP and the RSS but the Indian State itself!

A global coalition of the Right, something the Left would claim to be an oxymoron, is gradually emerging. Countries would continue to engage with one-another prioritising their national interests. It only implies that the governments would be more responsive to the needs and aspirations of its own people. This is true democracy at work. During his current official visit to Bharat, US Vice President JD Vance said, "President Trump and I know that Prime Minister Modi is a tough negotiator. It's one of the reasons why we respect him" Strong national identity and conservative leanings do not preclude global cooperation. PM Modi is a global icon of popular conservative leader and has forged strong relations with other global leaders. It bodes well for Bharat's global standing and its future role in current geopolitical scenario.

The writer is National Spokesperson of BJP

India is the most compelling story of the present era. We mustn’t squander this opportunity

 India is the most compelling story of the present era. We mustn’t squander this opportunity   

By Gopal Krishna Agarwal, 

The current geopolitical situation arising out of the US-China trade war and our conflict with Pakistan can be leveraged to India’s advantage. How we do so will decide the future of India.

The destination of Viksit Bharat is that we become a robust economy with high per capita income, have strong defence and military capabilities, and intense global engagements with world leaders and international institutions that match our stature.

 

The current situation provides opportunities for India in all three arenas: economic power, defence capabilities, and global engagement. How we leverage them will decide the future of India. Ultimately, it is the people, their perception, and will to achieve that matter.

The current geopolitical situation arising out of the US-China trade war and our conflict with Pakistan can be leveraged to India’s advantage. Domestically, our economic fundamentals like low inflation, a fiscal consolidation glide path, good foreign exchange reserves, highest foreign direct investment flows, infrastructure growth, digital public infrastructure in place, booming capital markets, and revival of public sector undertakings and banks, among other things, are helping build a robust Indian economy.

India’s new trade advantage

The trade tension between the US and China is benefiting India. American buyers are looking toward Indian suppliers, improving India’s prospect for better engagement with the world. We have free trade agreements (FTAs) with Australia, the UAE, and have just concluded an expansive FTA with the United Kingdom. An interim trade deal with the US is also imminent.

 

Our increasing economic and commercial engagement with the wider world dramatically increases the market for Indian products. Reduction in import duties will impart competitiveness for Indian manufacturers and boost their overall productivity. India has already undertaken a number of structural reforms, and a lot more are in the pipeline.

 

Though there will be resistance to reforms by vested interest groups, and the success of government will be measured in how deftly it manages to blunt political opposition to the reform agenda. Other countries in the world are also trying to capture the opportunities arising from trade disruptions. India will need to be extremely agile to be able to emerge as a winner.

A message to Pakistan and the world

In the recent standoff with Pakistan, India has demonstrated its intent as well as the ability to punish the purveyors of terrorism. It has made it clear that no place in Pakistan is outside the reach of Indian armed forces. We have been able to destroy Pakistan-sponsored core terrorist group infrastructure, situated deep inside Pakistan, at nine places.

During Operation Sindoor, India destroyed and destabilised Pakistani defences at places like Lahore, Karachi, and Rawalpindi. India’s targeted strikes on eleven major Pakistani airbases have decisively shifted regional military dynamics. These pre-emptive attacks, carried out with precision, have dismantled Pakistan’s ability to maintain any air superiority, and any meaningful counter-response from these bases having critical function, inflicting psychological and strategic damage to the Pakistani military establishment.

The successful neutralising of Pakistan’s military aerial intrusions, and our ability to defend Indian airspace, is also evident. At the same time, India’s repeated declarations that our actions were non-escalatory in nature gave Pakistan enough opportunity to off-ramp, ensuring global support for our actions.

Prime Minister Shri Narendra Modi ji said that terrorism and talks, and terrorism and trade, cannot go together. He added that any future talk with Pakistan will be on Pak-Occupied Kashmir (PoK) and state-sponsored terrorism only. The emphatic statement that any terrorist action will be considered an ‘act of war’, and keeping the Indus Water Treaty in abeyance, shows a clear policy shift in our dealing with Pakistan.

An issue at hand is also how a regional conflict with an adversary that is in a dire state—of unstable economy, multiple state actors within the ruling establishment, and civic unrest from Baluchistan and Punjab province uprisings—can impact us.

Even so, the world over, it is acknowledged that India is the most compelling story of the present era, attracting huge global investments, and we must not squander this opportunity.

Brand India on the rise

Prime Minister Modi’s engagement with global leadership and at international platforms has been exemplary. His interventions in the Ukraine-Russia war, and the statement that “this is not an era of war” to President Putin, have been very well appreciated across the world. The success of the G20 has established ‘Brand India’. Our US engagement shows the finesse of a mature diplomacy and a mutuality of interests. India’s straight and frank talks with European nations about preaching and practising democracy, or dealing with oil sanctions, come from clear vision and inner strength. India now acts and talks like a global leader, and as our economy grows bigger, our say in global affairs will increase even more.

The stage is set for India to assume strong leadership status at the global level, but it needs to do a lot of work on many fronts domestically. India has to grow its GDP at over 8 per cent per annum on a sustained basis, something that has never been achieved in the country till now. Our tryst with destiny, and opportune time is here; whether we the people of India, and our politics, will rise to the occasion, only time will tell.

Gopal Krishna Agarwal is the national spokesperson of the BJP. He tweets @gopalkagarwal. Views are personal.

गरीब, युवा, किसान, महिलाओं को केंद्र में रख तैयार हुआ बजट

 गरीब, युवा, किसान, महिलाओं को केंद्र में रख तैयार हुआ बजट

गोपाल कृष्ण अग्रवाल,
राष्ट्रीय प्रवक्ता, भाजपा। 

 

जब उम्मीदे आकाश छू रही हो तब भी यदि बजट उन पर खरा उतर जाए तो यह निश्चित ही प्रशंसा की बात है। आयकर राहत के बारे में बहुत चर्चा होगी, लेकिन अन्य अच्छे कदम भी उठाए गए है, जिनके बारे में बात की जानी चाहिए।

अंतरराष्ट्रीय भू-राजनीतिक स्थिति और ट्रम्प प्रेसीडेंसी ने वैश्विक मामलों में अनिश्चितता का माहौल बनाया है। गरीबी, युवाओं किसानों और महिलाओं की चिंताएं बजट निर्माण प्रक्रिया के केंद्र में थीं और उनके लिए प्रावधान है। बजट ने चार विकास इंजनों की पहचान की है - कृषि एमएसएमई, निवेश और निर्यात बजट में निवेश की परिकल्पना एक समग्र तरीके से की गई है. जिसमें अर्थव्यवस्था और नवाचार में निवेश शामिल है। कराधान, ऊर्जा, शहरी विकास, खनन, वित्तीय क्षेत्र और नियामक मुधारों सहित छह क्षेत्रों में परिवर्तनकारी सुधार शुरू किए जाएगे।

 बजट के जो खंड ध्यान आकर्षित करते हैं ये व्यक्ति की व्यक्तिगत प्रवृत्ति और स्वार्थ के आधार पर अलग-अलग हो सकते हैं। मेरे लिए, किसी भी बजट या योजना के विकास उन्मुख कदम सबसे महत्वपूर्ण है। ईज ऑफ डूइंग के मोर्चे पर सभी उपलब्धियों के बावजूद, अभी भी बहुत कुछ हासिल करना बाकी है। वित मंत्री ने अपने बजट भाषण में कहा कि नियम पंख जैसे हल्के होंगे और विश्वास के सिद्धातो पर आधारित होगे। अनुपालन पर बहुत अधिक भरोसा किया जाएगा। किसी भी घरेलू वित्त के प्रबंधक की तरह वित्त मंत्री ने अपने पैसे का अधिकतम उपयोग करने की कोशिश की है। बजट में दो महत्वपूर्ण घोषणाएं इस बात को रेखांकित करती है। पहला सरकार की योजना है कि वह

कृषि प्रदर्शन के आधार पर 100 सबसे वंचित जिलों पर ध्यान केंद्रित करेगी और दूसरा । लाख अतिरिक्त घरो के पूर्ण होने के लिए 15,000 करोड़ रुपये की घोषणा से।

 विकसित भारत के लक्ष्य को प्राप्त करने के लिए, बजट भारत के बढ़ते मध्यम वर्ग की खर्च करने की शक्ति को बढ़ाने और घरेलू भावनाओं को बढ़ाने     का प्रयास करता है। 12 लाख तक की आय कर से मुक्त होगी और कर स्लैब में भी संशोधन किया गया है।

 यह मध्यम और नव-मध्यम वर्ग के लिए एक बड़ी राहत है। यह एफएमसीजी, यात्रा और पर्यटन, ऑटोमोबाइल आदि जैसे क्षेत्रों की मदद करेगा। बजट भाषण में यह भी घोषणा की गई है कि एक नया सरल और वाहत छोटा आयकर अधिनियम आने वाले सप्ताह में पेश किया जाएगा। दो अन्य घोषणाएं है जिनका उल्लेख किया जाना चाहिए। वित्त मंत्री ने कहा कि भारत को 2047 तक अपने ऊर्जा संक्रमण प्रयासों के लिए और इस लक्ष्य की दिशा में निजी क्षेत्र के साथ सक्रिय साझेदारी के लिए कम से कम 100 जीडब्ल्यू नाभिकीय ऊर्जा की आवश्यकता है। दूसरी घोषणा है कि द्विपक्षीय निवेश संधि (बीआईटी) के मॉडल को बदलना और इसे अधिक निवेशक अनुकूल बनाना। इस जोर के कारण आने वाले माहीनों में विधायी पक्ष पर बहुत काम वह होगा।

Budget leans on resilience, paves path for Viksit Bharat

                      

                      Budget leans on resilience, paves path for Viksit Bharat

Budget 2024 is a significant milestone in India's journey towards becoming a developed nation, or Viksit Bharat, by 2047. It builds on the resilience established over the last two terms of the government led by Prime Minister (PM) Narendra Modi. The Economic Survey clearly laid out how the economy is on a strong footing while identifying challenges. Finance Minister (FM) Nirmala Sitharaman has skillfully navigated these important aspects of the economy. Despite the Opposition's political reservations, it is evident that the provisions in this budget are far-reaching and transformative. The primary focus is on employment generation, support to the middle class, agriculture growth, MSMEs, and urban infrastructure development. The budget also talks about next-generation reforms and improving factors of production.

We have to keep in mind that budget announcements are based on the demand of the Union ministries and the states and the assessment of their requirements by the finance ministry. These allocations can be increased during the year. Also, states not mentioned in the speech still get their due under the schemes.

Employment generation is a critical area. The budget ensures that job creation is directly and indirectly supported. The introduction of an internship program for 10 million youth at 500 top corporations, financed and supported by the government, is a notable initiative. It is designed to bridge the gap between education and industry requirements. Support for first-time employees through the first month's salary being paid by the government and Provident Fund (PF) and National Pension System (NPS) contributions are welcome steps. Upgrading of the Industrial Training Institutes (ITIs) and training two million youth will further empower the workforce, including women workers.

The FM has also focused on the MSME sector with enhanced credit guarantees, reworking the Non-Performing Assets (NPA) identification process, and raising the Mudra loan limit to ₹20 lakh. Most importantly, the credit assessment model has been improved to ensure that deserving enterprises receive the necessary financial support. The manufacturing sector will benefit significantly from the allocation of 1 lakh crore for innovation and research, as well as funds for start-ups. The abolition of the angel tax, a major demand of start-ups, will bring a new line of capital investment, fostering a culture of innovation and entrepreneurship. The budget also provides much-needed tax relief to the middle class. The increase in the standard deduction limit and reduced tax rates across all slabs will provide respite to millions of households. This demography will also benefit from infrastructure development, with an impressive allocation of ₹11.11 lakh crore aimed at enhancing the ease of living.

Agriculture and the rural population have received special attention. The government has allocated funds for the construction of 30 million new houses under the Pradhan Mantri Awas Yojana. These initiatives aim to improve living conditions and provide much-needed relief to rural communities. The government's exemplary work in delivering social welfare through digital infrastructure is evident in this budget. The Viksit Bharat vision entails welfare schemes reaching every section of the population. The allocation to the Mahatma Gandhi National Rural Employment Guarantee Scheme and the initiation of the Janjatiya Unnat Abhiyan are steps towards achieving saturation in tribal villages.

The budget also emphasizes sectors such as tourism, energy, urban development, manufacturing, and support for women and youth empowerment. Each of These areas has found a place in the budget, with targeted initiatives aimed at boosting growth and improving the standard of living. The comprehensive approach ensures that every segment of society benefits from the nation's progress.

Innovation and research are key components of this budget, with substantial funds allocated to foster a culture of creativity and technological advancement. Next-generation reforms, including a new economic policy framework, new tax levies, and easing of tax compliance, have been thoughtfully implemented. These measures aim to improve overall productivity, creating a more efficient and competitive economy.

In conclusion, the budget is a significant step towards building Viksit Bharat. It lays a solid foundation for a prosperous and resilient economy where all segments of society are taken care of. The government's focus on employment generation, infrastructure development, and social welfare is commendable. Together, we will build a prosperous and resilient India, ensuring that every citizen benefits from the nation's progress.

Gopal Krishna Agarwal is the National spokesperson of the Bharatiya Janata Party on economic affairs.

How India Can Leverage its cultural riches to stimulate its economy

 India has a glorious past. At one point in time it contributed more than 25% to the world’s GDP and controlled about 28% of global trade and commerce. Being an economic power for several centuries, India played a leadership role in all fields- whether it is art, culture, music, dance, food, festivals, architecture or handicrafts. Indian civilization’s contribution to the world heritage has been immense. Unfortunately, history took an unpleasant turn and India saw foreign occupation for almost a millennia; in these thousand years we were robbed of our glory and wealth.

There is a close inter-relationship between the culture and the economy. Our economy was an important factor for our glorious civilization and cultural heritage. The reverse also held true - our cultural content contributed to our strong economy. If India has to assume global leadership position again, it has to be an economic power first. We can use our cultural wealth to catalyze India’s economy.

India's potential in the field of culture is immense. However, there is a lack of understanding on how to put this accumulated cultural wealth over millennia to achieve economic growth. For realizing the true potential of India’s imbedded cultural content, and identifying variables and their interrelationship for evidence based decision making and resource allocations, we have to work on multiple dimensions of cultural economy; what are its performance and potential Indicators, how monetization can lead to unlocking valuations of cultural activities, what are its financial requisites to be fulfilled by innovative financial instruments for sustainability. According to a study only about 20% of cultural organizations worldwide consider themselves financially sustainable.

Government is an important driver of any initiative. Therefore Cultural Economic Governance assumes great importance at the stage of policy formulation and its implementation. Cultural sector directly employs about 45 lakh people as artisans, performers, tourism guides etc. In addition, handicrafts and traditional art industries provide employment to about 60 lakh people. Through introduction of new curriculum and vocational studies in the education system, the government has to work on skilling and capacity building of these stakeholders. According to a report by the Ministry of Rural Development, only 10% of rural artisans have access to formal training programs. It is estimated that capacity building initiatives in cultural sectors can lead to a 20-30% increase in productivity and revenue for cultural enterprises. A survey conducted by UNESCO found that 70% of traditional artisans feel their skills are not aligned with current market demand.

Establishing social and economic linkages for performing arts can propel growth in all art forms, contributing to huge employment and revenue generation. The Indian film industry alone contributes around Rs 180,000 crore annually to the economy but its global potential is still unexploited. Yoga in the USA has become a 15 billion USD business annually. Is there a way to ensure that the economic benefits of the wider acceptance of Yoga flows to India? All these and other important sectors have to be extensively worked on.

The civilisational wealth that we have inherited from our ancestors can be put to use only after we start taking pride in them. We are fortunate that, with the rise of aspirational Indians, there is a revival of pride in our cultural traditions and civilization values in the country. Initiatives like building Ram temple at Ayodhya; its ambitious redevelopment project, costing over Rs 85,000 crore is to be completed by 2031 transforming the city to accommodate a footfall of around 3 lakh pilgrims daily. Kashi Vishwanath Temple had 20,000-30,000 daily visitors before redevelopment; after the revamp, the daily number of visitors increased to 1.5-2 lakh. There are approximately 2 million temples across India, in addition to their religious and spiritual importance, temples were designed to serve as commercial centres attracting tourists/pilgrims and support business activities in the areas of retail, transportation, and hospitality. Festivals in India are estimated to contribute Rs 2 lakh crore annually. According to a CII report, Kumbh Mela in 2019 generated business over Rs 1.2 lakh crore whereas the State of UP had to spend only Rs. 4,200 crores for the event.

Prime Minister Modi is working on realizing this vision further by setting up Tamil Cultural Centers across the globe and showcasing India's diverse and vibrant cultural heritage to the world leaders through the G20 platform. India has 42 UNESCO World Heritage Sites as of now. A total of 46 new projects have been sanctioned and 27 new pilgrimage sites have been identified across India for development of infrastructure and tourist amenities for enriching the religious tourism experience under the PRASHAD scheme of the Central government. Spiritual and religious tourism in India commands a significant portion of the travel and tourism sector, holding a 30% market share and accounting for 60% of the domestic tourism market.

What we require is to develop a comprehensive Cultural Economic Model. This Model will serve as a catalyst for our nation’s economic growth, till we become a developed nation by the year 2047. Our cultural economic model will also be a case-study for other economies to emulate and propel their own economic growth using their social and cultural wealth.

The author is National Spokesperson of BJP.

 

India must use its cultural wealth to be global economic power

     India must use its cultural wealth to be global economic power

Cultural economic governance assumes great importance at the stage of policy formulation and its implementation 
India has a glorious past. At one point in time, it contributed more than 25 percent to the world’s gross domestic product and controlled about 28 percent of global trade and commerce. Being an economic power for several centuries, India played a leadership role in all fields – whether it is art, culture, music, dance, food, festivals, architecture, or handicrafts. Indian civilization’s contribution to the world heritage has been immense. Unfortunately, history took an unpleasant turn and India saw foreign occupation for almost a millennia; in these thousand years, we were robbed of our glory and wealth.

There is a close interrelationship between the culture and the economy. Our economy was an important factor for our glorious civilization and cultural heritage. The reverse also held true – our cultural content contributed to our strong economy. If India has to assume a global leadership position again, it has to be an economic power first. We can use our cultural wealth to catalyze India’s economy.

India's potential in the field of culture is immense. However, there is a lack of understanding on how to put this accumulated cultural wealth over millennia to achieve economic growth. For realizing the true potential of India’s imbedded cultural content, and identifying variables and their interrelationship for evidence-based decision-making and resource allocations, we have to work on multiple dimensions of cultural economy; what are its performance and potential indicators, how monetization can lead to unlocking valuations of cultural activities, what are its financial requisites to be fulfilled by innovative financial instruments for sustainability. According to a study, only about 20 percent of cultural organizations worldwide consider themselves financially sustainable. The government is an important driver of any initiative. Therefore, cultural economic governance assumes great importance at the stage of policy formulation and its implementation. The cultural sector directly employs about 4.5 million people as artisans, performers, tourism guides, etc. In addition, handicrafts and traditional art industries provide employment to about 6 million people. Through the introduction of new curriculum and vocational studies in the education system, the government has to work on skilling and capacity building of these stakeholders. According to a report by the Ministry of Rural Development, only 10 percent of rural artisans have access to formal training programs. It is estimated that capacity-building initiatives in cultural sectors can lead to a 20-30 percent increase in productivity and revenue for cultural enterprises. A survey conducted by UNESCO found that 70 percent of traditional artisans feel their skills are not aligned with current market demand.

Establishing social and economic linkages for performing arts can propel growth in all art forms, contributing to huge employment and revenue generation. The Indian film industry alone contributes around Rs 180,000 crore annually to the economy but its global potential is still unexploited. Yoga in the United States has become a $15 billion business annually. Is there a way to ensure that the economic benefits of the wider acceptance of Yoga flow to India? All these and other important sectors have to be extensively worked on.

The civilization wealth that we have inherited from our ancestors can be put to use only after we start taking pride in them. We are fortunate that, with the rise of aspirational Indians, there is a revival of pride in our cultural traditions and civilization values in the country. We have had initiatives like building the Ram temple in Ayodhya: Its ambitious redevelopment project costing over Rs 85,000 crore will be completed by 2031, transforming the city to accommodate a footfall of around 300,000 pilgrims daily. Kashi Vishwanath Temple had 20,000-30,000 daily visitors before redevelopment; after the revamp, the daily number of visitors increased to 1.5-2 lakh. There are some 2 million temples across India, in addition to their religious and spiritual importance, temples were designed to serve as commercial centres attracting tourists/pilgrims and support business activities in the areas of retail, transportation, and hospitality. Festivals in India are estimated to contribute Rs 2 trillion annually. According to a CII report, Kumbh Mela in 2019 generated business over Rs 1. trillion and Uttar Pradesh had to spend only Rs. 4,200 crore for the event.

Prime Minister Narendra Modi is working on realizing this vision further by setting up Tamil Cultural Centers across the globe and showcasing India's diverse and vibrant cultural heritage to world leaders through the G20 platform. India has 42 UNESCO World Heritage Sites as of now. A total of 46 new projects have been sanctioned and 27 new pilgrimage sites have been identified across India for the development of infrastructure and tourist amenities for enriching the religious tourism experience under the PRASHAD scheme of the central government. Spiritual and religious tourism in India commands a significant portion of the travel and tourism sector, holding a 30 percent market share and accounting for 60 percent of the domestic tourism market.

What we require is to develop a comprehensive Cultural Economic Model. it will serve as a catalyst for our nation’s economic growth, till we become a developed nation by the year 2047. Our cultural economic model will also be a case study for other economies to emulate and propel their own economic growth using their social and cultural wealth.

The writer is a national spokesperson of the BJP and patron, MCES 2024