International
India ascent from ‘Fragile 5’ to fastest-growing economy has lessons for developing world: NITI Aayog VC
United Nations, July 18 (IANS) India’s ascent from the “Fragile Five” to the fastest-growing major economy has lessons for other developing countries, according to Suman Bery, the vice chair of NITI Aayog.
“The government came out with a white paper which talks about the situation they inherited: India as a part of the so-called ‘Fragile Five’; and now, [it is] one of the fastest-growing economies in the world”.
Bery spoke exclusively to the IANS UN Bureau just after presenting India’s report card at the UN’s High-Level Political Forum on Sustainable Development.
Asked about what India’s experience can show the other developing countries, he said, “India has its own challenges, and I think one reason for India’s success is that it has mechanisms to come up with its own solutions”.
“With Prime Minister Modi, having been at the helm for ten years and now having been selected to be Prime Minister, another five years, I think there are certain lessons to be drawn”, he said.
“A lot of that has to do with sheer economic management, making sure that the inflation rate is down, good administration, the GST (Goods and Services Tax)”, he said.
Above all, he said, economic and financial stability was important and the government had its mandate.
“So, there are certain basics, which, I think, India’s experience confirms are important”, Bery said.
In “India’s case the emphasis even at the time of Covid and after Covid on infrastructure has been quite important, important for employment and productivity, also important for connectivity”, he said.
“And finally, the digital story is fairly well recognised” around the world”, he said, and what it “points out is actually the link between intelligent policy and a fairly dynamic private sector, a successful model of public-private partnership”.
The “Fragile Five” term was coined by the international investment company Morgan Stanley that lumped India with four other developing nations signalling their economic vulnerability.
That was a year before Narendra Modi’s election to his first term as Prime Minister.
The International Monetary Fund has also reiterated India’s position as the fastest-growing economy with a growth rate of 7.5 per cent for this year, continuing the world record for the seventh year in a row.
As he explained the contours of Viksit Bharat and PM Modi’s vision for India as a developed society by 2047, Bery with his tousled grey hair and scholarly mien projected the image of a professor rather than someone at the intersection of politics and bureaucracy.
He brings to the NITI Aayog the experiences of working with the private sector, as the chief economist of Royal Dutch Shell, with think tanks as a scholar, with the World Bank as an economist, and as a government adviser.
At the UN political forum where member nations presented their progress with the UN’s Sustainable Development Goals (SDGs) – 17 targets to be reached by 2030 – Bery said India laid emphasis on strengthening partnerships to facilitate access to adequate financing, technology and capacity building for the Global South.
He said that India was on track to achieve years early the goal of reducing the number of those living in poverty by half.
“Around 135 million Indians escaped multidimensional poverty in the five years between 2015-16 and 2019-21, made possible through integration of social safety nets, infrastructure development and multiple financial inclusion programmes”, he told the forum.
India has achieved progress towards this and other goals encompassing ending hunger, extending healthcare, fighting climate change, and institution-building “in a participative, democratic framework with orderly transfers of power at the level of Indian states and at the centre”, he said.
Asked during the IANS interview about the role of the private sector in achieving India’s development vision, he acknowledged, “I would say that we have not made as much progress as we might have”.
“One is that after the [economic] liberalisation of 1991, the private sector was meant to play a much larger role”, he said, but “it took, frankly, 30 years and the arrival of a new government to recognise the reality”.
“In going from development being a question of government schemes to development being seen as a question of appropriate policies, I think what we have to do now is trust more in our policies, and have more stable policies”, he said.
Building the digital public infrastructure is an area where the private sector made a successful contribution that could be a model.
What it “points out is the importance of intelligent regulation”, he said.
“There are two dimensions about how the government and, therefore, NITI Aayog interacts with the private sector: One is through policies, and the other is through regulation”, Bery said.
“And in both of these, I think India has made a promising start, but to become a developed economy by 2047 much more needs to happen”, he said.
(Arul Louis can be contacted at arul.l@ians.in and followed at @arulouis)
Vientiane (Laos), Aug 22 (IANS) Representatives from the Lao government and development partners have attended a conference here titled “Climate Change and Nutrition in Laos: Intersections and Interventions” to discuss the impact of climate change on nutrition in the Southeast Asia country and potential solutions.
Speaking at the conference, deputy director general of the Department of Hygiene and Health Promotion under the Lao Ministry of Health Viengkhan Phixay, said, “We gather to address a critical and interwoven issue: the impact of climate change on nutrition and how we can work together to tackle these challenges,” Xinhua news agency reported.
The Lao government is actively engaged in this endeavor, with numerous policies and initiatives aimed at addressing both climate change and nutrition, Lao National Television reported on Thursday.
“By leveraging the Scaling Up Nutrition network in Laos, which is led by the government, and supported by civil society, donors, and the United Nations, we have a robust platform to tackle the negative impacts of climate change while improving nutrition and overall health for everyone in Laos,” Viengkham said at the conference held on Monday.
The conference featured a series of presentations that not only detailed evidence-based research but also introduced innovative tools for measuring and enhancing nutrition under the impact of climate change.
The conference stressed the critical need for integrated approaches to tackle the intertwined challenges of climate change and nutrition, and setting the stage for impactful future collaborations.
–IANS
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Baghdad, Aug 22 (IANS) A civilian was killed while seven others were injured on Thursday in a tribal shootout in Iraq’s holy Shiite province of Najaf, according to a local security source.
The shootout erupted in the early hours between armed men from the local tribe in the al-Zarga area in northern Najaf, some 160 km south of Baghdad, a local police officer told Xinhua on condition of anonymity.
The clash resulted in the killing of an Iraqi civilian and the injury of seven others, including three Iranian Shiite pilgrims, the source added.
A joint force from the Interior Ministry’s emergency response division and Najaf provincial police arrested 53 gunmen from both sides of the shootout and seized weapons and ammunition, the Interior Ministry said in a statement.
It added that search operations are ongoing to locate additional gunmen and weapons, with more details to be released later.
The incident took place as numerous pilgrims traveled to the city of Karbala to observe Arbaeen, which marks the end of a 40-day mourning period for the killing of Imam Hussein, the grandson of Prophet Muhammad, in the Battle of Karbala in 680 A.D.
Typically, these pilgrims also visit Najaf as part of their journey to Karbala.
–IANS
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Dhaka, Aug 22 (IANS) Bangladesh’s interim government has sought $1 billion from the World Bank as budgetary support.
The call came from the country’s Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan’s meeting with Abdoulaye Seck, the World Bank’s Country Director for Bangladesh and Bhutan, in Dhaka on Wednesday.
He made the plea as the ministry owes more than 2 billion dollars to suppliers in import costs of power and energy, Xinhua news agency reported.
Khan mentioned that the interim government, which was formed with many pressing mandates, is due to settle a $2 billion debt left by the previous government in the power sector.
He said they have already suspended activities under the much-criticized Quick Enhancement of Electricity and Energy Supply Act 2010 and abolished the government’s power to set energy prices without any public hearing.
On August 5, the former Prime Minister of Bangladesh, Sheikh Hasina, was ousted from her country and power, ending her rule since January 2009.
This event was seen as a massive escalation, with what initially started as student’s protests and resulted in a major crisis in Bangladesh.
Earlier on August 8, Nobel laureate Muhammad Yunus took oath as the head of Bangladesh’s interim government.
–IANS
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Belgrade, Aug 22 (IANS) Serbian police are still searching for seven missing migrants in the Drina River after their boat capsized when crossing from Serbia to Bosnia and Herzegovina, Serbia’s Interior Ministry confirmed in a press release issued on Thursday.
According to testimonies of the migrants who managed to reach the shore, there were approximately 25 people on board. So far, police and rescue teams have found 18 individuals, including three children, on the riverbank, Xinhua news agency reported.
Serbian Deputy Prime Minister and Minister of the Interior Ivica Dacic said police and the Emergency Situations Sector responded promptly after being alerted by the Bosnian border authorities early Thursday morning.
An intensive search is underway in the Drina River and its surrounding area.
The European Border and Coast Guard Agency, Frontex, reported a significant decrease in illegal border crossings in the Western Balkans during the first half of 2024.
The illegal crossings towards EU borders reached 12,407 between January and July 2024, a 75 per cent drop compared to the same period last year.
–IANS
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Islamabad, Aug 22 (IANS) Islamabad, the capital of Pakistan, turned into a fortress on Thursday with dozens of containers forcing closure of several roads with heavy deployment of law enforcement forces following the cancellation of a No-Objection Certificate (NOC) of an anti-government protest planned by Pakistan Tehreek-e-Insaf (PTI) and protest call by religious parties, including the Jamaat-e-Islami (JI), Jamiat Ulema-e-Islam (JUI) under the banner of Majlis-e-Tahaffuz-e-Khatme Nabuwwat against a Supreme Court decision in the Mubarak Sani case.
Anticipating widespread protests, the local administration, which had cancelled the NOC, imposed Section 144 in the city, barring assembly of people and also closed all educational institutions for the day.
Later in the day, the PTI announced its decision to postpone its protest rally and rescheduled it for September 8.
The government maintained that it did not want to take any chance considering the Supreme Court hearing and also the presence of Bangladeshi cricket team in the country which is currently touring Pakistan for a Test series.
On Wednesday, the capital administration of Islamabad decided to cancel the NOC for PTI, less than 24 hours before the scheduled public gathering in Tarnol area. PTI had earlier announced that it would go ahead with its planned gathering even after its NOC was revoked.
“It is concerning that the government might try to exploit the rally to incite unrest and blame it on PTI. They are scared and are trying to find ways to orchestrate cases against us,” said senior PTI leader Azam Swati.
Imran Khan’s party has been struggling to hold a political gathering in the capital for the past five months with the local administration delaying grant of any permission to hold such an event. Even after a permission is granted, it ends up being revoked a few hours later.
The latest episode is the second time the capital administration has cancelled the NOC issued to PTI for holding a political gathering at Tarnol.
The government maintains that it had detailed meeting with the Inspector General Police, Deputy Commissioner, senior officers from the Chief Commissioner’s office, officials of the Inter-Services Intelligence (ISI), Military Intelligence (MI) and Intelligence Bureau (IB) after which it was decided that there will be serious law and order concerns if the gathering is allowed.
On the other hand, several religious parties have also taken to the streets in Islamabad, protesting against the Supreme Court of Pakistan’s verdict in the Mubarak Sani case.
Tehreek-e-Khatam-e-Nabuwat, an umbrella name for different religious parties, has called for a protest in front of the Supreme Court after the July 24 Supreme Court verdict in the case, maintaining and ruling that while Ahmadis are declared non-Muslims, they retain the right to profess and proliferate their religion, provided they do not publicly use Muslim terms or introduce themselves as Muslims.
In February 2024, Mubarak Ahmed Sani, an Ahmadi, was accused of violating the Punjab Holy Quran (Printing and Recording) Amendment) Act 2021 by distributing the proscribed book ‘Tafseer-e-Sagheer’. However, the Supreme Court maintained that the alleged act occurred in 2019, before it was criminalised in 2021.
The Supreme Court decision was widely criticized by the religious groups who demanded the federal and the Punjab government to challenge the decision and ensure punishment for Sani.
The Punjab government later filed a review petition in the Supreme Court while a petition was also filed by the Federal government on directions of the Prime Minister Shehbaz Sharif.
–IANS
hamza/as/
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