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Ideal time to invest in India

SPECIAL REPORT


Republic Day is a very important occasion in the history of India as it was on this day, 26 January 1950, that India became a Republic by adopting a visionary constitution and emerged as the largest democracy of the world. The Constitution, which is based on India’s civilizational values and ethos, is an eternal source of guidance and inspiration for over 1.4 billion people of India. It is not just a basic law of the land, it also serves as a scripture for social and economic transformation of the country. After seven decades, India not only continues to be a thriving democratic country but also the fastest growing major economy in the world.

For Indians the Republic Day is an occasion to remember and pay respects to their freedom fighters who sacrificed their lives to give them a free India and to the many who contributed in building a modern India. It is also an occasion to pay their homage to the thousands of

members of the armed forces who made the supreme sacrifice for protecting our freedom and securing their borders.

As Indians celebrate their 74th Republic Day, they feel proud of the many achievements in the fields of science, technology, space, nuclear energy, sports and culture. India today is a land of billion opportunities. India’s IT sector has risen up to the occasion by delivering digital solutions across the globe.

India’s unicorn club continues to grow and today it is home to the third largest number of unicorns in the world. India’s start-up space is buzzing with unprecedented enthusiasm and activity on the back of creativity, imagination and technology breakthroughs.

Despite the pandemic challenges, India remained a trusted partner in the global supply chains. India is in the process of further integrating its economy with the international economy by entering into free trade agreements with partner countries. Innovation, new technology, renewed and reinvigorated spirit of entrepreneurship of Indians have all been important factors in India retaining its status as the primary destination for global capital.

There has never been a better time to invest in India than now, as modernization of India’s physical and digital infrastructure has received an unprecedented momentum. India is moving ahead with the spirit of ‘Make in India, Make for the World’ as its youth is fully geared up to take the economy to newer heights.

Today, India is on the right track to build an Aatmanirbhar Bharat (Self-Reliant India), which envisages a merger of the local with the global. No wonder that India is rightfully being considered the key driver of a post COVID-19 global growth recovery.

Despite the many challenges of COVID-19 pandemic, India’s management of not only the pandemic but also the macro-economic situation and the overall governance have been remarkable. A year from the date of launch of the world’s largest vaccine campaign, India was able to successfully administer 160 crore (1.6 billion) COVID vaccine doses, an unparalleled global feat. In the crucial hour of crisis for humanity, India stood true to its civilizational ethos of Vasudhaiva Kutumbakam (World is one family). It was guided by the vision ‘One Earth, One Health’ in saving millions of lives by providing necessary medicines and vaccines to many countries and rightfully justified its credentials as the ‘Pharmacy of the World’. It continues to lead the global fight against COVID-19; its supply of medicines and vaccines and highly talented human resources forms the core of the global recovery efforts.

Today, India has emerged as a nation that inspires the world and is a leading country in the comity of nations contributing immensely to world peace, stability and prosperity. The vision of creating an environment of peace and security to ensure a better world for the entire humanity has always been the guiding spirit of India’s foreign policy. India is currently holding the presidency of the G20. India places an undeterred faith and belief in multilateral approach and has always taken the lead on issues of global importance such as fight against cross-border terrorism, climate change, energy security, food security, and the reform of multilateral institutions, including the UN Security Council.

At the bilateral level, India recently celebrated the 60th anniversary of establishment of diplomatic relations with Kuwait. The geographic proximity, historical trade links, cultural affinities, people to people connect and growing cooperation in key areas of mutual interest continue to strengthen and broaden the partnership. The high-level visits and exchanges continue to impart further momentum to a relationship which is firmly on an upward trajectory.

Bilateral trade and investment ties continue to remain strong despite the adverse impact of the pandemic and its associated precautionary restrictions.

Bilateral ties between the two countries are time tested, built over strong foundations by the people over centuries based on mutual trust and respect. Over time, nurtured by vibrant people to people connect and civilizational affinities, the partnership has blossomed into a long-standing dynamic partnership.

The Indian Community in Kuwait has always played a commendable role in building bilateral relations. A point of case is how the vibrant community came together and worked closely with the Indian Embassy in addressing the many challenges associated with the COVID-19 pandemic that they faced.

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