India needs a new story (Many setbacks now demand a reset)

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 India needs a new story (Many setbacks now demand a reset)

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• Past 25 years of India: The nation was a “Rising India" due to 

1. economic rise, 
2. globalisation and integration with rising Asia, and 
3. India was moving ahead from past entanglement with Pakistan. 

• Today, sadly, all these are weakened and Rising India is being questioned.
• From 1991-2001: India had managed to escape from the 1991 BoP crisis, found its feet in post-Cold War world, and built bridges with Rising Asia (post collapse of USSR). 

1. PM PVN Rao's leadership was far-reaching – major economic and foreign policy changes
2. PM Vajpayee used the rising profile to go ahead with nuclear tests in 1998, and withstood economic sanctions due to a strong economy
3. Trade liberalistaion, industrial delicensing, decontrol etc. all helped.
4. Many new companies - specially in computer software - sprang up, pushing India forward.

• China, not Pakistan: The US started looking at India as a neighbour of China, and not Pakistan. For it, China and India would emerge as competitors and partners resp. (a 2000 essay). 
• India's mature response: The way India responded to Kargil intrusions by Pakistan in 1999 was appreciated by the US. And then, it was found that terrorists involved in the 9/11 attack had Pakistani links. The de-hyphenation of India and Pak had happened by 2005.
• Recent past has been bad: National politics has become totally centred on Pakistan and terrorism. Uri and Pathankot were turned into political campaigns. As terror attacks went down, terrorism went up as a news item, with a devastating consequence - India was re-hyphenated with Pakistan. After August 2019, it was reinforced due to decision on Article 370.
• Double whammy, the economy: All this came with a major eocnomic slowdown. Investments are down, as is consumer spending. One good thing is lower oil prices!
• RCEP pull-out: The decision to not join Rising Asia (via the RCEP) may derail the Rising India story itself. Questions are being raised on everything now, including competitiveness. 
• Change in US stand: From 1991-2016, US became a friend of India. Since Trump arrived in 2017, US changed gears (if not course). US hasn't shown major concern for India's needs. 
• Summary: So, many factors impact India's case now – 

1. Economic situation, 
2. Recent political choices made, 
3. Trumpism, and 
4. China's rise. All these are hitting hard at Rising India story. India needs to get back to higher economic growth urgently, alongwith better political management and geopolitical choices.

• Summary : India is now witnessing a different reaction of the world to its rise, given the many headwinds created in the economy and politics.

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