India’s Next Leap
In a momentous event in Indian political history, Prime Minister Narendra Modi and the Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) have secured a third consecutive term in the 2024 Lok Sabha elections.
This unprecedented victory marks a significant milestone, reflecting the continued trust and support of the Indian populace in Modi’s leadership and the NDA’s governance. The 2024 election results underscore the lasting appeal of Modi’s leadership and the BJP’s governance approach.
The electorate’s continued support signifies a strong endorsement of the policies and initiatives implemented over the past decade. This historic victory not only bolsters Modi’s political standing but also paves the way for further progress in India’s development.
Under his leadership, India is poised to become a 21st-century economic powerhouse, offering a real alternative to China for investors and consumer brands hunting for growth and manufacturers looking to reduce risks in their supply chains.
While ties between Beijing and the West are becoming increasingly frayed, India enjoys healthy relations with most major economies and is aggressively wooing large companies to set up factories in the country. In the next five years, India could do much more to raise its gross domestic product (GDP) per person, a measure of living standards according to which it ranked a lowly 147 in 2022.
Building modern India
Here’s a look at the key sectors expected to be at the forefront of PM Modi’s next five years.
- Infrastructure Development:
Infrastructure continues to be a cornerstone of Modi’s vision for India. Expect significant investments in roadways, railways, and urban infrastructure. Initiatives like the Bharatmala Pariyojana and the Smart Cities Mission will receive renewed focus, aimed at enhancing connectivity and urban living standards.
High-speed rail projects and metro expansions in major cities will be prioritized to boost efficiency and ease of travel. Much as China did more than three decades ago, India is beginning a massive infrastructure transformation by spending billions on building roads, ports, airports and railways. Meanwhile, private investors are building the world’s biggest green energy plant.
In this year’s federal budget alone, $134 billion was carved out for capital spending to boost economic expansion.
- Digital Economy and Technology:
With the new government, the people of India can expect the use of satellite imaging, GIS, GeoAI, and digital twins to support developmental initiatives for both urban and rural economies. We have seen the PM Modi’s focus on technological progress and innovation, expecting these areas to continue receiving significant attention and investment.
The Digital India initiative will be scaled up to integrate more services online, aiming for a seamless digital ecosystem. The government is likely to invest heavily in 5G technology, AI, and cybersecurity to position India as a leader in the digital space. This sector will also see an emphasis on digital literacy and internet penetration in rural areas to bridge the digital divide.
- Manufacturing and ‘Make in India’
The BJP’s manifesto promises include a lot of measures such as more bullet trains and a focus on solar energy, PM Modi’s third term will uphold policy continuity while retaining emphasis on key drivers of growth. Bold reforms such as regarding land and labour might be announced during the term.
Revitalizing the manufacturing sector will be crucial under the ‘Make in India’ initiative, aiming to reduce dependency on imports and boost domestic production. Special Economic Zones (SEZs) and manufacturing hubs will receive more attention, and policies will be refined to attract foreign direct investment (FDI). The defense sector, in particular, is expected to see substantial growth with increased local manufacturing of defense equipment.
- Social Programs
Prime Minister Narendre Modi pledged to expand social programs initiated during BJP's decade-long rule, including the provision of millions of free homes for the poor, as well as access to health care, cooking gas, and free grain. His government has also been providing 6,000 rupees ($73) annually to impoverished farmers.
As true BJP under Narendra Modi administration's policies have lifted 250 million people out of poverty since he took office in 2014. With over 1.4 billion people, India is the world's most populous country. BJP President J.P. Nadda stated that less than 1 percent of Indians now live in extreme poverty.
- Agriculture and Rural Development
The agricultural sector, which is estimated to constitute 18 percent of India’s GVA in FY24, is the bedrock of the nation’s economy. Despite challenges posed by the global health crisis and variability in climate conditions, the sector has demonstrated remarkable tenacity and resilience, contributing significantly to India’s economic recovery and development.
To support the agrarian economy, the government will likely introduce reforms aimed at improving agricultural productivity and farmers’ incomes. Technological integration in agriculture, enhanced irrigation facilities, and better market access for farmers will be key focus areas. Rural development programs will aim at improving the quality of life and infrastructure in villages.
- Clean Energy
With Narendra Modi securing a third consecutive term as the Prime Minister of India, his government is poised to drive the nation towards unprecedented economic growth. The upcoming five years will likely witness a targeted push in energy sector, aiming to transform India into a global powerhouse.
India’s ambitious solar energy targets are set to become even more pronounced. The government will push to increase the country’s solar capacity, aiming to reach 280 GW by 2030. This includes expanding large-scale solar parks, incentivizing rooftop solar installations, and integrating solar power into agriculture through initiatives like solar water pumps for irrigation. The International Solar Alliance, championed by PM Narendra Modi, will continue to play a pivotal role in fostering global cooperation and investment in solar energy.
It is pertinent to mention that Prime Minister Narendra Modi’s third term is poised to propel India towards a sustainable and clean energy future. By focusing on solar and wind power, promoting a hydrogen economy, expanding electric mobility, and integrating advanced technologies, the government aims to significantly reduce carbon emissions and enhance energy security. This comprehensive clean energy strategy will not only contribute to global climate goals but also drive economic growth, job creation, and technological innovation in India.
Conclusion
The Narendra Modi government’s agenda for the next five years is set to build on the foundations laid in previous terms, with a renewed vigour in critical sectors. By focusing on infrastructure, digital economy, renewable energy, manufacturing, healthcare, agriculture, and education, the administration aims to foster sustainable growth, economic resilience, and an improved quality of life for all Indians.
By Adv Sajid Yousuf Shah is Columnist, Author and currently heads BJP Media Department in Kashmir.
