Globalization has already connected everything and everyone and allowing the best ideas, talent and investments to flow where they can create the most value. This phenomenon is here to stay if not look to further integrate us. It’s imperative for us to understand that and take necessary steps so that we can leverage our strengths as a nation via macro and microeconomic measures in order to move towards the direction of growth.
In recent years, we find India is getting closely integrated within the world economy. This idea of inter-connectivity of the global economy demands engagement, not retrenchment. It is not a question of winners and losers, but of identifying and building on India’s competitive advantages to drive growth and utilizing it to further better our position. IT industry has been a great example in last three decades of how things can be done. It’s time for us to diversify our strengths and compete.