India has set itself free from the empire of the britishers on 15 August 1947. In 2024 India will be celebrating its 78th independence anniversary. This revolution, which is being celebrated annually as the Independence Day, is filled with remarkable meaning for India and the whole Asia beside the entire World.
The road to freedom was tortuous and long. There were pains of partition. The trauma of displacements and restructuring of boundaries and people, and the hardships of new nation constructions.
However, the Indian people never lost their fighting pride and the results were this phenomenal up-turn. That made India one of the fastest growing economies and a stable democratic nation.
Partition of Indian Subcontinent
Indeed the Independence of the Indian subcontinent in 1947 and the creation of Pakistan have definitely left the biggest scar on both nations.
This calculus of guilt and revenge brought only the continuation of the division resulting from religious conflict with political factors, whose effects are still being left.
It caused one of the earliest cataclysmic humanitarian criticisms, where people suffered a holocaust, which is foreclosure on a population level.
Tens of millions were evacuated resulting in wholesome violence death and suffering on an awesome scale.
These logistics difficulties and the resulting devastating socio- economic affliction would have hamper India-Pakistan in these initial years of their independence.
Business: Gain and Loss
This region was also completely ruined during the post-partition, which gave way to zero employment prospects.
In this turmoil many companies and businesses have had their colossal battles to begin with in fight for their existence. Not to mention other companies and businesses that have learned how to look for the new wave of opportunities.
As there were matters of distribution of wealth and assets concerning the two states. There were anxiety-inducing directions of a series of negotiation and highly significant contentious confrontation.
This contributed significantly to prolongation and a considerable number of business operations within managed distribution were accompanied . A significant degree of bad faith, besides, through labor migration and dismantling supply chain and structure many jobs have been corroded.
But at the same time on the flip-side it was the post independence era where many new industries and domestic markets were also started. States were attempting to regain their economic independence for this reason manufacturing, agriculture and industries have developed fast.
Without any doubt, this period witnessed the birth of companies from India such as Tata, Reliance and Infosys and so on. Now fondly referred to as giants in their respective fields.
Comparative Asian Development: Independence Day
Asia-liberalization-economics growth was uneven while some nations flourished and developed, others have faced countless adversities time after time.
East Asian Growth
In fact, the post world war era was witness to an economic miracle in the decades following India being cut into. So many countries of East Asia such as Japan (post WW-II only), South Korea and Taiwan turned industrial powerhouse from inhabitant economies. The Asian elephants capitalized on their experienced workforce, institutional infrastructure and business support system to speed up the evolution of technology development as well logistics.
This is due largely to higher spending for education, adoption of modern technology and subsequent structural reforms in critical sectors. Factors which have contributed greatly towards the success of East Asian economies.
Also, stable political institutions and proper macroeconomics policies were also some significant help to the economic turnaround.
Problems of South Asian
On the other hand, economic growth after independence was slow and erratic in many South Asian countries such as India, Pakistan. Political instability, vicious social rifts and liabilities of disintegration by nature restrained the region from achieving sustainable development and good life.
India has become a global economic superpower with the advent of recent decades, but there are several problems in India which are not being solved to address. Problems like income inequality, infrastructure shortages or permanent crisis situations from Pakistan.
Nonetheless, Pakistan continued to be ridden with political turmoil keeping it at bay due to security. Issues and its diversified economy beyond reliance upon agriculture as well as textiles.
These multiple approaches underscore the significance of political stability, structural stability and industrial prioritization in strategic prioritization countries’ economic wealth creation post-independence plan.
Globalization
This era of independence also saw the emergence of globalization, which influenced almost all the domains within Asian economies and countries.
Reasons of Globalization
Asian countries are having their phase, due to the newly found globalization has brought ways to trade and have any type of economic or cultural relations. Any nation in the world that helps them to build economies in the international market also.
Most of the Asian countries including India have been encouraged to supply goods and services as a result of liberal trading regime. That is characterized by the elimination of tariff barriers in many cases.
It also prompted industrial and infrastructure development in the area because FDI started to come in.
Continents in general and Asia in particular and India analogously, have turned into a base of manufacturing, technology and finance worldwide at all levels.
Challenges of Globalization
However, this part of the traditional process of globalization and Asian Economic integration has not been tension free. More directly, the forces of international competition.
The growing market power has led to enhanced fundamental changes in the values. U.S industry and communities faced the challenge of economic threat.
However, the rising tide of affluence was far from lifting all boats. There were new center-left domestic challengers in that the reward of globalism is not being spread.
There were also new questions like income division, pollution of the natural environment and migration of traditional products which is a very issue for the authorities and policy makers in Asia to remember.
Also, Asian countries are challenged by health and other types of adversity by optimization through the world economy evidenced in the Covid-19 pandemic that impacted more economies in the region.
Conclusion: Independence Day
As for Indian and the rest of South Asian countries and the Asian continent as a whole is going to complete yet another year of struggle and hard earned independence. It is high time they look back on infidelities of the struggles of the past and strength and toughness of the present.
This is a laborious process which has been reflected in a journey through the pain of the partition. The oscillations of economic growth and the impact of globalization.
Nevertheless, the Indian spirit of defiance and the will to build up a better existence have unchangingly prevailed.
In the roles of policymakers, businessmen and stakeholder, there remains much to reach for, problems to solve, and a vision of the future to build for the region for it to transform into a better, prosperous and equitable society in the 21st century.
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